Major Highlights
With improved performance, Bank has registered Net Profit of Rs 206 Crore compared to Rs 135 Crore (53%) on YoY basis and turned corner from loss of Rs 1349 Crore as on 31st March 21 on QoQ basis.
Operating Profit marginally declined from Rs 1291 Crore to Rs 1179 Crore (-8.68%) on YoY basis and improved from Rs 688 Crore to Rs 1179 Crore (71.37%) on QoQ basis.
Net NPA improved from 6.76% to 5.09% on YoY basis registering an improvement of 167 bps and from 5.77% to 5.09% on QoQ basis registering an improvement of 68 bps.
Provision Coverage Ratio improved from 79.12% to 84.28% on YoY basis registering an improvement of 516 bps and from 82.54% to 84.28% on QoQ basis registering an improvement of 174 bps.
Profitability
Net Interest Income (NII) remained almost flat at Rs 2135 Crore as of 30th June 21, as compared to Rs 2146 as of 30th June 20, and improved from Rs 1516 crore to Rs 2135 crore (40.83%) on a Q-o-Q basis.
Operating Profit marginally declined from Rs 1291 Crore to Rs 1179 Crore (-8.68%) on a Y-o-Y basis and improved from Rs 688 Crore to Rs 1179 Crore (71.37%) on a Q-o-Q basis.
Cost to Income ratio declined from 54.79% to 59.39% on a Y-o-Y basis; however, improved from 71.57% to 59.39% on a Q-o-Q basis registering an improvement of 1218 bps. Cost of Deposit declined from 4.70 % to 3.93% during Q1’22 on a Y-o-Y basis and from 4.00% to 3.93% on a Q-o-Q basis.
The yield on Advance has come down from 7.30% to 6.55% during Q1’ 22 over Q1’21 due to the reduction in MCLR and RBLR. However, it has improved from 4.98 % to 6.55 % registering growth on a Q-o-Q basis.
Business per Employee has increased from Rs15.03 crore to Rs 16 crore in Q1’22 over Q1’21 and from Rs15.64 crore to 16 crores on a Q-o-Q basis.
Asset Quality
Gross NPA improved from 18.10% to 15.92% on a Y-o-Y basis registering an improvement and from 16.55% to 15.92% on a Q-o-Q basis registering an improvement of 63 bps.
Net NPA improved from 6.76% to 5.09% on a Y-o-Y basis registering an improvement and from 5.77% to 5.09% on a Q-o-Q basis registering an improvement of 68bps.
Provision coverage ratio (PCR) improved from 79.12% to 84.28% on a Y-o-Y basis registering an improvement and from 82.54% to 84.28% on a Q-o-Q basis registering an improvement of 174 bps.
Credit Cost improved from 1.16 % to 0.17 % during Q1’22 over Q1’21 on Y-o-Y basis.
Slippage ratio increased to 0.95% during Q1’22 as against 0.02% during Q1’21 as there was moratorium granted by RBI due to COVID-19 pandemic in June’20 Quarter.
Capital
CRAR improved from 11.50% to 14.88% on a Y-o-Y basis registering an improvement of 338 bps and from 14.81% to 14.88% registering an improvement of 7 bps on a Q-o-Q basis.
Bank’s Net worth has improved from Rs 18660.50 crore as of June 30th, 2020 to Rs 22921.43 crore as of June 30th 2021on a standalone basis.
Digital Banking
Share of Digital Transaction through ADC (Alternative Delivery Channel) improved from 70.79% to 78.39% during 12 months period ended June 2021, against the corresponding period ended June 2020.
Active Debit Card users are 2.66 crores as of June 30th, 2021.
Branch segmentation
The bank is having a pan India presence with a network of 4594 branches spanning 63.91% (2936 branches) in rural & amp; semi-urban areas, 3427 ATMs, and 7018 BC Points with a total Touch-points 15039 as of 30th June 2021.
Business Highlights
- Total Business stood at Rs 506712 crore as of June 30th, 2021, as against Rs 497748 crore registering a growth of Rs 8964 crore (1.80%) on Y-o-Y.
- Total deposits improved from Rs 321252 Crore to Rs 331483 Crore during Q1’ 22 over Q1’21 registering a growth of Rs 10231 Crore (3.18 %).
- CASA’s share in Total Core Deposits has improved from 47.30% to 49.20 % on a Y-o-Y basis registering a growth of 190 bps.
