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

Financial Results for Quarter/Half Year ended 30^th 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 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 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 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 a s different alternate delivery channels are becoming popular day by day. The Bank has launched many digital pr oducts such as PAPL (Pre-approved personal loan), online KCC renewal, overdraft against digital deposi ts(ODA D), 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 dash board.