Financial Results for Quarter/Half Year ended 30th September 2022

Bank’s Global Business reached ₹10.27 lakh Cr

Operating Profit up by 11% YoY

Net profit up by 12% YoY

• Net Profit up by 12% YoY at ₹1225 Cr in Sep’22 from ₹1089 Cr in Sep’21
• Operating profit for Sep’22 up by 11% YoY at ₹3629 Cr from ` 3276 Cr in Sep’21
• Net Interest Income increased by 15% YoY to ₹4684 Cr in Sep’22 from ₹4084 Cr in Sep’21
• Fee based income grew by 18% YoY to ₹723 Cr in 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 to 0.71% in Sep’22 as against 0.69% in Sep’21
• Return on Equity (RoE) improved by 52 bps to 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 Cr in 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 Cr in Sep’22
• CASA grew by 7%, driven by 9% YoY growth in CA and 7% 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 bps YoY to 91.08% from 83.32% in Sep’21
• Capital Adequacy Ratio at 16.15%. CET-I improved by 58 bps YoY to 12.26% Tier I Capital improved by 55 bps YoY to 12.89%

• Net Profit rose to ₹1225 Cr in Sep’22 from ₹1213 Cr in Jun’22
• Operating profit stood at ₹3629 Cr in Sep’22 as 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 at 13.83% in Sep’22 as against 14.18% a quarter ago.
• Cost-to-Income Ratio stood at 44.27% in Sep’22 as against 41.94% in the previous quarter.
• Net Interest Margin (NIM) Domestic increased by 10 bps QoQ to 3.20% in Sep’22 as against 3.10% in Jun’22.

• Net Profit up by 7% YoY to ₹2439 Cr in H1FY23 from ₹2271 Cr in H1FY22
• Operating profit increased by 8% at ₹7194 Cr from ₹6691 Cr
• Net Interest Income grew by 14% to ₹9218 Cr from ₹8078 Cr
• Return on Assets (RoA) remained unchanged at 0.72%
• Return on Equity (RoE) stood at 14% as against 14.30% in H1FY22
• Cost-to-Income Ratio stood at 43.14% as against 43.60% in H1FY22
• Net Interest Margin (NIM) Domestic increased by 28 bps YoY to 3.15% as against 2.87%

Business:

• Total Business recorded a YoY growth of 10% reaching the level of ₹1026801 Cr in 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 by 7% YoY to ₹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 Cr in Sep’22. The share of CASA to deposits stood at 41%.
• 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 5728 domestic branches, out of which 1940 are Rural, 1496 are Semi-Urban, 1157 are Urban & 1135 are in Metro category and 3 overseas branches.
• The Bank has 4825 ATMs & BNAs and 10256 number 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 cater to 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.