MUMBAI, 20 OCTOBER, 2022 (GPN): Bank exited the PCA framework of RBI after demonstrating sustained performance under all the parameters during the last 5 quarters. The performance has further improved during Sep’22 quarter.

• Bank earned Net Profit of ₹318 crore during the current quarter against Net Profit of ₹250 crore in Q2 FY 21, with increase in net profit by 27.20%.

Net Interest Income for the year has increased to ₹2747 crores as compared to ₹2206 crores for corresponding quarter ended September 30, 2021, registering a Y-o-Y growth of ₹ 541 crore (24.52%).

• Operating Profit for the quarter has increased from ₹1445 crore as of September’21 to ₹ 1748 crore in September’22 due to increase in Total Interest Income by ₹661 crore.
• Gross Advances increased by ₹ 21428 crore (12.20%) on YoY basis and stood at        ₹197022 crore in September 30, 2022 as against ₹175594 crore in September 30, 2021.
• Net NPA has improved from 4.51% to 2.95 % for the same quarter last year. Net NPAs in absolute terms has also declined to ₹5407 crore from ₹7004 crore on YoY basis.
• PCR as at September 30, 2022 stands at 89.20 % as against 85.86 % for the same quarter last year registering an improvement of 334 bps on YOY basis.

BUSINESS HIGHLIGHTS

• Total Business of the Bank, stood at ₹540103 crore as on September 30, 2022 as against ₹512094 crore registering growth of ₹28009 crore (5.47%) on YoY basis.
• CASA Deposits have increased by ₹7093 crore to ₹174296 crore reflecting YoY growth of 4.24%. CASA share in Total Deposits has improved from 49.79% as at the end of September 30, 2021 to 50.99% as at the end of September 30, 2022.

• Total Deposits have increased by ₹6581 crore and stood at ₹343081 crore as on September 30, 2022 as compared to ₹336500 crore as at the end of September 30, 2021 reflecting an increase of 1.96% on YoY basis.

Gross Advances increased by ₹ 21428

• crore (12.20%) on YoY basis and stood at           ₹ 197022 crore in September 30, 2022 as against ₹ 175594 crore in September 30, 2021.

• Retail, Agriculture and MSME (RAM) stood at ₹132965 Crores with a growth of 13.37 % for the same quarter last year. Also, RAM share stood at 67.49 % of the Total Gross Advances as on Sep’ 2022.

• Business per Employee has improved to ₹17.13 crore during September’2022 quarter from ₹16.43 crore on YoY basis.

ASSET QUALITY AND CAPITAL ADEQUACY

• Gross NPA improved to 9.67% as against 15.52% in September 2021 on YoY basis.

• Net NPA has improved from 4.51% to 2.95 % for the same quarter last year. Net NPAs in absolute terms has also declined to ₹5407 crore from       ₹7004 crore on YoY basis.

• PCR as at September 30, 2022 stands at 89.20 % as against 85.86 % for the same quarter last year registering an improvement of 334 bps on YOY basis.

• The Bank’s CRAR (BASEL-III) for quarter ending September 30, 2022 is 13.56% as against 13.51% for the Quarter ended September 30, 2021.    CET-1 also improved from 11.53% to 11.62% during Q2-FY’23 over the corresponding quarter of previous year.

PROFITABILITY

Net Interest Income for the year has increased to ₹ 2747 crores as compared to ₹2206 crores for corresponding quarter ended September 30, 2021, registering a Y-o-Y growth of ₹ 541 crore (24.52%).

Net Interest Margin (NIM) for the quarter improved to 3.44 % as at the end of September 2022 from 2.97 % as at the end of September

• 2022 from 2.97 % as at the end of September 2021.

• Operating Profit for the quarter has increased from ₹ 1445 crore as of September’21 to ₹ 1748 crore in September’22 due to increase in Total Interest Income by ₹661 crore when compared to the same figure last year.

• Cost to Income Ratio has come down to 52.21 % for the quarter ended September 30, 2022 as compared to 55.38 % for the corresponding quarter previous year.

Return on Assets (ROA) improved from 0.27 % to 0.35 % during Q2-FY’23 over the corresponding quarter of previous year.

Return on Equity (ROE) for the quarter improved to 5.25 % (Annualized) as at the end of September 2022 from 4.38% (Annualized) as at the end of September 2021.

Operating Profit per Employee has improved from ₹18.57 lakhs to ₹22.22 lakhs for the same quarter last year.

Net Profit per Employee has also improved from ₹3.21 lakhs to ₹4.05 lakhs for the same quarter last year.

DIGITAL BANKING

• Bank has registered a growth of 24.38%, in Internet Banking, Mobile Banking & IMPS transactions during 12 months period ended Sep’22, against corresponding period ended Sep’21.

• The Financial Digital transaction counts also registered a growth of 58%, in Internet Banking, Mobile Banking, IMPS and UPI transactions during 12 months period ended Sep’22, against corresponding period ended Sep’21.

BRANCH SEGMENTATION

• Bank is having pan India presence with network of 4517 branches with 64.91% (2932 branches) in rural & semi-urban areas, 2111 ATMs and 10599 BC Points with total 17187 Touch Points as on Sep ’22.Ends