Sunday, May 12, 2024

Financial Results for the Quarter/Nine months ended as on 31st December 2022
National

Financial Results for the Quarter/Nine months ended as on 31st December 2022

chennaiviews

Bank’s Global Business reached ₹10.49 lakh Cr

Operating Profit up by 24% YoY

Net profit up by 102% YoY

  • Net Profit up by 102% YoY at ₹1396 Cr in Dec’22 from ₹690 Cr in Dec’21
  • Operating profit for Dec’22 up by 24% YoY at ₹4061 Cr from ` 3288 Cr in Dec’21
  • Net Interest Income increased by 25% YoY to ₹5499 Cr in Dec’22 from ₹4395 Cr in Dec’21
  • Fee based income grew by 6% YoY to ₹704 Cr in Dec’22
  • Cost-to-Income Ratio stood at 43.71% in Dec’22 as against 44.75% in Dec’21
  • Domestic NIM increased to 3.74% in Dec’22 from 3.03% in Dec’21
  • Return on Assets (RoA) improved to 0.80% in Dec’22 as against 0.43% in Dec’21
  • Return on Equity (RoE) increased to 15.21% for Dec’22 as against 8.26% in Dec’21
  • Advances increased by 13% YoY to ₹451658 Crin Dec’22 from ₹400432 Crin Dec’21
  • RAM (Retail, Agriculture & MSME) advances grew by 12% YoY to ₹262811 Cr in Dec’22 from ₹233738 Crin Dec’21
  • RAM contribution to gross domestic advances is 62%. Retail, Agri & MSME advances grew by 15%, 15% and 6% YoY respectively. Home Loan (Including mortgage) grew by 12% YoY, Auto Loan by 27% YoY and Personal Loan by 35% YoY
  • Deposit increased by 6% YoY and reached to ₹597114 Crin Dec’22
  • CASA ratio stood at 40.4%
  • GNPA decreased by 260 bps YoY to 6.53% in Dec’22 from 9.13%, NNPA reduced by 172 bps to 1% from 2.72% in Dec’21
  • Provision Coverage Ratio (PCR, including TWO) improved by 810 bps YoY to 93.59% from 85.49% in Dec’21
  • Capital Adequacy Ratio at 15.74%. CET-I improved by 59 bps YoY to 11.97%
    Tier I Capital improved by 55 bps YoY to 12.58%
  • Net Profit up by 14% QoQ to ₹1396 Crin Dec’22 from ₹1225 Cr in Sep’22
  • Operating profit up by 12% and stood at ₹4061 Cr in Dec’22 from ₹3629 Cr in Sep’22
  • Net Interest Income grew by 17% QoQin Dec’22 to ₹5499 Cr from ₹4684 Cr in Sep’22
  • On a QoQ sequential basis, Return on Assets (RoA) improved by 9 bps to 0.80% in Dec’22 as against 0.71% in Sep’22.
  • Return on Equity (RoE) stood at 15.21% in Dec’22 as against 13.83% a quarter ago
  • Cost-to-Income Ratio stood at 43.71% in Dec’22 as against 44.27% in Sep’22
  • Net Interest Margin (NIM) Domestic increased by 54 bps to 3.74% in Dec’22 as against 3.20% in Sep’22
  • Net Profit up by 30% YoY to ₹3834 Cr in9MFY23from ₹2961 Crin 9MFY22
  • Operating profit increased by 13% at ₹11255 Cr from ₹9979 Cr
  • Net Interest Income grew by 18% to ₹14717 Cr in9MFY23from ₹12473 Cr in 9MFY22
  • Return on Assets (RoA) increased to 0.75% in9MFY23from 0.62%
  • Return on Equity (RoE) improved to 14.42% from 12.24% in 9MFY22
  • Cost-to-Income Ratio stood at 43.35% as against 43.99% in 9MFY22
  • Net Interest Margin (NIM) Domestic increased by 42 bps to 3.35% in9MFY23as against 2.93% in 9MFY22

Business:

  • Total Business recorded a YoY growth of 9% reaching the level of ₹1048772 Cr in Dec’22 as against ₹963007 Cr in Dec’21. It stood at ₹1026801 Cr in Sep’22.
  • Advances grew by 13% to ₹451658 Crin Dec’22 over ₹400432 Cra year ago. Growth in RAM sector is recorded at 12% YoY of which Retail & Agriculture grew by 15% YoY.
  • Deposits grew by 6% YoYto ₹597114 Crin Dec’22 as compared to ₹562575 Crduring the corresponding period a year ago.
  • CASA deposits recorded a YoY growth of 3% and stood at ₹241213 Crin Dec’22. The share of CASA to deposits stood at 40.4%.
  • Priority Sector portfolio stood at ₹152850 Crin Dec’22. Priority sector advances as a percentage of ANBC stood at 45.19% as against the regulatory requirement of 40%.

Network:

  • The Bank has 5770 domestic branches, out of which 1959 are Rural, 1509 are Semi-Urban, 1161 are Urban & 1141 are in Metro category. The Bank has 3 overseas branches & 1 IBU.
  • The Bank has 4969 ATMs & BNAs and 10368 number of BCs.

Digital Banking:

  • The Bank has established 3 Digital Banking Units (DBUs) at South Delhi, Lucknow and Karaikal.
  • Transactions through ATM, BNA & Digital channels improved by 7% YoY.
  • Mobile Banking users increased by 73% YoY, while its transactions increased by 85% YoY.
  • UPI users and transactions increased by 19% YoY and 91% YoY respectively.

Awards & Accolades:

  • Bank bagged the Best Performing Bank award in Tamil Nadu state for SHG-Bank linkage programme for FY22 from NABARD.
  • Bank emerged as the winner for top improvement in the EASE 4.0 reforms index.
  • Bank grabbed Financial Express award for the Best Public Sector Bank 2020-21.
  • Bank was awarded the “Fastest Growing Public Sector Bank” in Banking Awards 2022 by Dalal Street Investment Journal.
  • Bank was adjudged the Best Bank for servicing in MSME by FICCI CMSME.