Financial Results for Quarter/Half Year ended30thSeptember 2022
Bank’s Global Business reached ₹10.27 lakh Cr
Operating Profit up by11% YoY
| Key Highlights (Quarter ended Sep’22 over Sep’21) |
Net profit up by12% YoY
- Net Profit up by 12%YoY at ₹1225 Cr in Sep’22 from ₹1089 Crin Sep’21
- Operating profit for Sep’22 up by 11% YoY at ₹3629 Cr from `3276 Crin Sep’21
- Net Interest Income increased by 15% YoY to ₹4684 Crin Sep’22 from₹4084 Cr in Sep’21
- Fee based income grew by 18%YoY to ₹723 Crin Sep’22
- Cost-to-Income Ratio stood at 44.27% in Sep’22 as against 45.85% in Sep’21
- Domestic NIM stood at 3.20% in Sep’22 as against 2.89% in Sep’21
- Return on Assets (RoA)improved to0.71% in Sep’22as against 0.69% in Sep’21
- Return on Equity (RoE)improved by 52 bpsto 13.83% for Sep’22 against 13.31% in Sep’21
- Advances increased by 14% YoY to ₹437941 Cr in Sep’22 from₹385730 Cr in Sep’21
- RAM (Retail, Agriculture & MSME) advances grew by 13%to ₹255256 Cr in Sep’22 from ₹226501 Crin Sep’21
- Retail, Agri, MSME advances grew by 14%, 15% and 9%YoY respectively. RAM contribution to domestic advances is 62%. Home Loan (Including mortgage)grew by 11%, Auto Loan by 28%, Personal Loan by 26% and Gold Loan by 19%
- Deposit increased by 7% YoY and reached to ₹588860 Crin Sep’22
- CASA grew by 7%, driven by 9% YoY growth in CA and7% YoY growth in SB,
CASA ratio stood at 41% - GNPA decreased by 226 bps YoY to 7.30%from 9.56%,NNPA reduced by 176 bps to 1.50% from 3.26% in Sep’21
- Provision Coverage Ratio (PCR) improved by 776 bpsYoY to 91.08%from 83.32% in Sep’21
| Key Highlights (Quarter ended Sep’22 over Jun’22) |
- Capital Adequacy Ratio at 15%. CET-I improved by 58 bps YoY to 12.26%
Tier I Capital improved by 55 bps YoY to 12.89% - Net Profitrose to₹1225 Crin Sep’22 from ₹1213 Cr in Jun’22
- Operating profit stood at ₹3629 Crin Sep’22as against₹3564 Cr in Jun’22
- Net Interest Income grew by 3% in Sep’22 to ₹4684 Cr from ₹4534 Cr in Jun’22
- Non-Interest Income increased by 14% to ₹1828 Cr in Sep’22 from ₹1604 Cr in Jun’22
- On a QoQ sequential basis Return on Assets (RoA) moderated by 2 bps to 0.71% in Sep’22 as against 0.73% in Jun’22.
- Return on Equity (RoE) stood at13.83% in Sep’22 as against14.18% a quarter ago.
- Cost-to-Income Ratio stood at44.27% in Sep’22 as against 41.94% in the previous quarter.
| Key Highlights (Half Year ended Sep’22 over Sep’21 |
- Net Interest Margin (NIM) Domestic increased by 10bps QoQ to 20% in Sep’22 as against3.10% in Jun’22.
- Net Profit up by 7% YoY to₹2439 Cr in H1FY23from ₹2271Crin H1FY22
- Operating profit increased by 8% at ₹7194 Cr from ₹6691Cr
- Net Interest Income grew by 14% to ₹9218 Cr from ₹8078Cr
- Return on Assets (RoA) remained unchanged at0.72%
- Return on Equity (RoE)stood at14% as against14.30% in H1FY22
- Cost-to-Income Ratio stood at43.14% as against 43.60%in H1FY22
| Key Highlights of Business Performance as on 30thSeptember 2022 |
- Net Interest Margin (NIM) Domestic increased by 28bpsYoY to 15% as against2.87%
Business:
- Total Business recorded a YoY growth of 10% reaching the level of ₹1026801 Crin Sep’22 as against₹937202 Cr in Sep’21.It stood at₹1009454 Cr in Jun’22.
- Advances grew by 14% to ₹437941 Cr in Sep’22 over ₹385730 Cr a year ago.Growth in RAM sector is recorded at 13% of which Retail & Agriculture grew by 14%and 15% respectively. On a sequential quarterly basis advances grew by 3%.
- Total Deposits grew by7% YoYto ₹588860 Cr in Sep’22 as compared to ₹551472 Cr during the corresponding period a year ago. On a sequential quarterly basis deposits grew by 1%.
- CASA deposits recorded a YoY growth of 7% and stood at ₹241078 Crin Sep’22. The share of CASA to deposits stood at41%.
- Priority Sector portfolio stood at₹158187 Cr in Sep’22. Priority sector advances as a percentage of ANBC stood at 48% as against the regulatory requirement of 40%.
Network:
- The Bank has 5728domestic branches, out of which 1940 are Rural, 1496are Semi-Urban, 1157are Urban &1135 are in Metro category and 3 overseas branches.
- The Bank has 4825ATMs & BNAs and 10256number of BCs.
Our Focus
The era of digitisation has brought about paradigm shift in the technological approach of the banking industry as different alternate delivery channels are becoming popular day by day. The Bank has launched many digital products such as PAPL (Pre-approved personal loan), online KCC renewal, overdraft against digital deposits(ODAD), Mudra loan through digital mode, instant jewel loan under its flagship Project- “WAVE’’
(World of Advanced Virtual Experience)to caterto prompt, hassle-free and customised offerings. Bank has also developed New Age Performance Management System (PMS) aimed at periodical assessment of performance with interactive dashboard.
