INDIAN NEWS & TIMES

Monday, December 11, 2017

01-Press_Meet_Q1_17-18Business

Global Business grew by 10.5 per cent to`670971 crore as on June 30, 2017 from `607280 crore as on June 30, 2016.

Domestic business grew by 10.0 per cent to `635233 crore as on June 30, 2017 from `577473 crore as on June 30, 2016.

Total deposit of the bank grew from `338727 crore as on June 30, 2016 to `375796 crore as on June 30, 2017 showing growth of 10.9 per cent.

CASA deposits grew by 25.1 per cent to `133412 crore as on June 30, 2017 from `106604 crore as on June 30, 2016. CASA share in total deposits improved to 35.5 per cent as on June 30, 2017 compared to 31.5 per cent as on June 30, 2016.Average CASA ratio also increased by 430 basis points (bps) to 33.5 per cent on YoY basis. Savings Deposit registered YoY growth of 27.6 per cent.

A total of 8.70 lakh CASA accounts were opened during April-June 2017, out of which 8.38 lakh were Savings Bank Accounts (excl. BSBDA/BSBDS accounts).01-Press_Meet_Q1_17-18 (1)The Bank’s Global Advances grew by 9.9 per cent (YoY) to `295175 crore as on June 30, 2017 from `268553 crore as on June 30, 2016.

Due to encouraging growth of 14.8 per cent in RAM (Retail, Agriculture & MSME) sector, Domestic Advances increased by 9.4 per cent from `242935 crore as on June 30, 2016 to `265683 crore as on June 30, 2017.

Financial Performance for the quarter ended June 2017

Domestic Net Interest Margin (NIM) stood at 2.20 per cent for April -June 2017 as against 2.36 per cent for April -June 2016.

Global NIM for April -June 2017 stood at 2.06 per cent as against 2.27 per cent for January-March 2017 quarter. It was 2.28 per cent a year ago.

Yield on funds stood at 6.94 per cent for April -June 2017 as against 7.94 per cent for April-June 2016 and 7.35 per cent for January-March 2017.

Cost of funds stood at 5.03 per cent for April -June 2017 as against 5.82 per cent for April-June 2016 and 5.24 per cent for January-March 2017.

Net Interest Income for April-June 2017 increased by 6.7 per cent to `2243 crore from `2103 crore for April-June 2016.

It was `2387 crore during January-March 2017. Non Interest Income for April-June 2017 stood at `1414 crore, showing increase of 36.0 per cent over April-June 2016.

Operating profit increased by 26.5 per cent to `2057 crore during April-June 2017 over `1626 crore during April-June 2016 and was `2134 crore during January-March 2017.

Net Profit for April-June 2017 sequentially increased to `117 crore from `109 crore in January-March 2017. Cost to income ratio improved to 43.79 per cent for April -June 2017 from 48.28 per cent for April-June 2016 and it was 44.32 per cent for January-March 2017.

Return on average assets (annualised) stood at 0.10 per cent for April-June 2017 as against 0.17 per cent for April-June 2016 and 0.10 per cent for January-March 2017.

Return on equity (annualised) stood at 2.46per cent in April -June 2017 as against 3.36 per cent for April -June 2016 and 2.27 per cent for January-March 2017.

Earnings per share (annualised) stood at `6.78 in April -June 2017 as against `9.69 for April -June 2016 and `6.33 for January-March 2017.

Asset Quality

Gross NPA stood at 12.63 per cent as on June 30, 2017 as against 11.17 per cent as on March 31, 2017 and 10.16 per cent as on June 30, 2016.

 Net NPA ratio stood at 7.4
7 per cent as on June 30, 2017 as against 6.57 per cent as on March 31, 2017 and 6.16 per cent as on June 30, 2016. Provision Coverage Ratio stood at 51.13 per cent as on June 30, 2017 as against 51.41 per cent as on March 31, 2017.

It was 49.99 per cent as on June 30, 2016.

Capital Adequacy

Capital Adequacy ratio of the Bank under Basel III improved to 12.01 per cent as on June 30, 2017 as against 11.79 per cent as on March 31, 2017 and 10.75 per cent as on June 30, 2016 compared to minimum regulatory requirement of 10.25 per cent.

The Tier I ratio as of June 30, 2017 is 9.24 per cent, within which Common Equity Tier 1 ratio is 7.73 per cent compared to regulatory minimum of 6.75 per cent.