MUMBAI, 4 FEBRUARY, 2020 (GPN):

• Net Profit of Rs 72.4 cr in 9M FY 20 vs. Net Loss of Rs 46.8 cr in 9 M FY 19
• Net Interest Income increases 36% YoY Rs 320 cr to Rs 435 cr (9M period) and 6% QoQ (3M period) Rs 147 cr to Rs 155 cr
• NIM improves to 3.4% in Q3FY20 from 2.6% in Q3FY19

Highlights

• Net Interest Income increases 36% YoY Rs 320 cr to Rs 435 cr (9M period) and 6% QoQ (3M period) Rs 147 cr to Rs 155 cr
• Yield on Advances improves to 10.7% in Q3 FY 20 from 9.9% in Q3 FY19 due mainly to improved yield on gold loans and reduction of low yielding LCBD portfolio.
• Cost of Deposits stable at 5.9%
• CASA mix improves to 28.6% in Q3FY20 from 27.6% in Q3FY19
• NIM improves to 3.4% in Q3FY20 from 2.6% in Q3FY19
• Fee & Commission income up by 32% 9M to 9M. Rs 55 cr to Rs 72 cr.
• Operating Profit increases 237% YoY Rs 52 cr to Rs 174 cr (9M period) and 10% QoQ (3M period) Rs 64 cr to Rs 70 cr
• Net Profit of Rs 72.4 cr in 9M FY 20 vs. Net Loss of Rs 46.8 cr in 9 M FY 19. QoQ Net Profit increases by 14% (from  Rs 24.7 cr to Rs 28.1 cr)
• RoA improves to 0.6% in Q3 FY 20 from 0.5% in Q2 FY 20 and 0.00% in Q3FY19
• Provision Coverage improves to 80.3% as on 31.12.19 from 66.2% as on 31.12.18 and 79.5% as on 30.09.19
• Net NPA decreases to Rs 213.7 cr as on 31.12.19 from Rs 365.5 cr as on 31.12.18  and 221.5 cr as on 30.09.19
• Capital Adequacy Ratio improves to 23.0%  as on 31.12.19 fro 15.5% as on 31.12.18 and  22.8% as on 30.09.19
• Bank plans to open 101 branches in the next financial year. These branches will be opened at areas with gold loan, Agri & MSME and CASA potential in line with the strategic priorities of the bank and around 75% will be breaking even in the first year from opening itself.

ENDS