Highlights – Quarter ended Dec’21
- Operating Profit up by 16% YoY at ₹3288 Cr from ₹2846 Cr.
- Net Profit up by 34% YoY at ₹690 Cr from₹514 Cr.
- Net interest Income (NII)increased by 2% YoY to ₹4395 Cr. Sequentially on QoQ basis NII grew by 8%.
- NIM (Domestic) improved from 2.89% in Sep’21 to 3.03% in Dec’21.
- Non-Interest Income rose by 36%, supported by Fee Income growth of 11%.Growth in Forex Income was at 32%, PSLC commission was at 47% and Recovery in Bad Debts wasat111%. Operating Expenses showed marginal increase of 2%, almost flat.
- Total Business recorded YoY growth of 6% reaching the level of ₹963007 Cr in Dec’21 as against ₹910894 Cr in Dec’20. On a sequential QoQ basis it increased by 3%.
- Total Deposits grew by 8% YoY and 2%QoQ and stood at ₹562575Cr in Dec’21 as against ₹521248 Cr in Dec’20.
- CASA Deposits grew by 10% YoY and by 4%QoQ and touched ₹234422 Cr in Dec’21. Current account deposits grew by 15% YoY and Savings account deposits by 9% YoY in Dec’21.
- CASA ratio improved by 80 bps YoY to 42%.
- Advances grew by 3% to ₹400432 Cr in Dec’21 from ₹389646 Cr a year ago. On a sequential QoQ basis advances grew by 4%.
- RAM Sector grew by 11%.
- RAM contribution to domestic advances is 61%.
- Retail Loans grew by 13%, backed by growth in Housing Loan by 11%, Personal Loan by 36%, Jewel Loan by 43%, Auto Loan by 6% and Other Retail Loans by 11%.
- Agriculture Loan grew by 14% on the back of increase of Jewel Loan by 24%, Investment Credit by 30%, Agri allied by72% and SHG by 16%.
- MSME grew by 6%.
- Priority Sector portfolio increased to ₹144433 Cr in Dec’21 from
₹134015 Cr in same quarter of the previous year. Priority sector advances as a percentage of ANBC stood at 42.66% as against the regulatory requirement of 40%. - GNPA% decreased from 9.56% in Sep’21 to9.13% in Dec’21, i.e. 43 bps on QoQ basis. NNPA% reduced from 3.26% in Sep’21to 2.72% in Dec’21, i.e. 54 bps on QoQ basis. PCR improved from 83.32% in Sep’21to 85.49% in Dec’21.
- Cash recovery was higher at ₹1096 Cr during Dec’21 as against ₹744 Cr in Dec’20. AUC recovery was higher at ₹278 Cr as compared to ₹129 Cr in Dec’20.
- Capital Adequacy Ratio at 15.47%, increased by 141 bps YoY. CET improved by 103 bps YoY from 10.35% to 11.38%. Tier I improved by 85 bps YoY from 11.18% to 12.03%.
Highlights – 9 months ended Dec’21
- For the 9 months ended Dec’21,Operating Profit at `9979 Cr grew by 16% YoY from ₹8581 Cr and Net Profit at `2961Crrecorded a growth of 128% YoY from last year level of ₹1296 Cr.
- Net Interest Income(NII)increased by1% YoY to ₹12473Cr in 9 month ended Dec’21 from ₹12332Cr in Dec’20.
- Net Revenues (Net interest income plus other income) for9 month endedDec’21 grew by 9% to ₹17816Crfrom₹16401Crin Dec’20.
- Non- Interest Income for 9 month ended Dec’21 up by 31% YoY. It stood at ₹5343Cras against ₹4069Cr in Dec’20on account of higher recovery in bad debts, increase in Fee income, Forex Income and PSLC commission.
- Return on Equity (RoE) for 9 month ended Dec’21 was 12.24% asagainst6.20% as on Dec’20.
- Return on Average Assets (RoA) was at 0.62% for 9 month ended Dec’21 as against 0.30% in Dec’20.
- Cost-to-Income Ratio has improved to43.99% for9 month ended Dec’21from 47.68% in Dec’20 due to higher increase in non-interest income.
- Provisions & Contingencies for 9 month ended Dec’21 were at ₹7018Cras against ₹7285Crfor the previous year. Cumulatively, it reduced by 4%.
- On 9 months’ basis, Operating Expenses grew marginally to ₹7837 Cr in Dec’21 from ₹7820 Cr in Dec’20.
Focus areas
- The need of the hour is to focus on consistent growth in business and enhanced income stream. The focal point will be to offer efficient and seamless customer service with more customer engagement and involving them in Bank’s digital journey. Our aim is to achieve higher growth with improved profit.
Key Summary of Q3FY22 results
| Q3FY21 | Q2FY22 | Q3FY22 | QoQ% | YoY% | 9MFY21 | 9MFY22 | YoY% | |
| Earnings & Profit | ||||||||
| Interest Income | 10025 | 9476 | 9926 | 5 | -1 | 30202 | 29024 | -4 |
| Interest Expenses | 5711 | 5391 | 5531 | 3 | -3 | 17870 | 16551 | -7 |
| Net Interest Income | 4314 | 4084 | 4395 | 8 | 2 | 12332 | 12473 | 1 |
| NIM % Domestic | 3.13 | 2.89 | 3.03 | 14 bps | -10 bps | 3.03 | 2.93 | -10 bps |
| Non-Interest Income | 1143 | 1966 | 1556 | -21 | 36 | 4069 | 5343 | 31 |
| Operating Profit | 2846 | 3276 | 3288 | 0.37 | 16 | 8581 | 9979 | 16 |
| Loan loss provisions | 738 | 2216 | 2439 | 10 | 230 | 4448 | 6401 | 44 |
| Net Profit | 514 | 1089 | 690 | -37 | 34 | 1296 | 2961 | 128 |
| In Rs Cr | Q3FY21 | Q2FY22 | Q3FY22 | QoQ% | YoY% |
| Balance Sheet | |||||
| Gross Advances (Global) | 389646 | 385730 | 400432 | 4 | 3 |
| Domestic Corporate | 168549 | 148007 | 151357 | 2 | -10 |
| Domestic RAM | 210524 | 226501 | 233738 | 3 | 11 |
| Deposits( Global) | 521248 | 551472 | 562575 | 2 | 8 |
| Domestic CASA | 212297 | 224544 | 233597 | 4 | 10 |
| Domestic Term Deposits | 300398 | 318011 | 319940 | 1 | 7 |
| CASA ratio % (Global) | 41 | 41 | 42 | 81 bps | 80 bps |
| Gross NPA | 35237 | 36886 | 36540 | -1 | 4 |
| Net NPA | 8537 | 11749 | 10155 | -14 | 19 |
| Ratios % | Q3FY21 | Q2FY22 | Q3FY22 | QoQ bps | YoY bps |
| Asset Quality | |||||
| GNPA | 9.04 | 9.56 | 9.13 | -43 | 9 |
| NNPA | 2.35 | 3.26 | 2.72 | -54 | 37 |
| PCR (with AUC) | 86.51 | 83.32 | 85.49 | 217 | -102 |
| PCR (without AUC) | 75.77 | 68.15 | 72.21 | 406 | -356 |
| Ratio % | Q3FY21 | Q2FY22 | Q3FY22 | QoQ bps | YoY bps |
| Capital Ratios | |||||
| CET -I | 10.35 | 11.68 | 11.38 | -30 | 103 |
| Tier -1 | 11.18 | 12.34 | 12.03 | -31 | 85 |
| CAR | 14.06 | 15.88 | 15.47 | -41 | 141 |
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