Financial Results For The Year Ended 31st March 2024

Performance Highlights:

• Total Business grew by 10.34 % to ₹ 636756 crore.
• Total Deposits up by 7.16 % to ₹ 385011 crore.
• CASA Deposits have elevated by ₹ 11657 crore to ₹ 191969 crore reflecting Y-o-Y progress of 6.46% & having a share of fifty.02% of whole Deposits.
• Gross Advance elevated by 15.60 % to ₹ 251745 crore.
• Credit to Deposit (CD) Ratio improved to 65.59 % registering an enchancment of 473 bps, from 31^stMarch 2023.
• Gross NPA improved to 4.50 %, registering an enchancment of 394 bps.
• Net NPA improved to 1.23 %, registering an enchancment of 54 bps.
• Provision Coverage Ratio improved to 93.58%, registering an enchancment of 110 bps.
• Net Profit up by 41.33 % to ₹ 807 crore (Quarter)/ 61.13% to ₹ 2549 crore (FY).
• Net Interest Income (NII) elevated by 10.34 % to ₹ 12896 crore for 12 months interval / FY ended on 31^stMarch 24, over corresponding interval of final 12 months.
• Net Interest Margin (NIM) diminished marginally to three.40 %.
• Return on Assets (ROA) improved to 0.76 % & 0.63 % (Q-o-Q & for 12 months interval /FY ended on 31^stMarch 24, over corresponding interval of final 12 months.), registering an enchancment of 15 & 19 bps, respectively.
• Return on Equity improved to 2.92 % & 9.53 % (Q-o-Q & for 12 months interval/FY ended on 31^stMarch 24, over corresponding interval of final 12 months.), registering an enchancment of 65 & 311 bps, respectively.
• CRAR improved to fifteen.08 %, of which Tier I is 12.46 %, registering an enchancment of 96 bps.

Profitability (Quarter Ended March 31^st, 2024):

• ðNet Profit up by 41.33 % to ₹ 807 crore in Q4FY24 towards ₹ 571 crore in Q4FY23.
• Total Income (Interest Income plus Non Interest Income) for Q4FY24 improved by 13.20 %, from ₹ 8568 crore in Q4FY23 to ₹ 9699 crore for Q4FY24.
• Return on Assets (ROA) improved to 0.76% for Q4FY24 as towards 0.61% for Q4FY23.
• Return on Equity (ROE) additionally improved to 2.92 % for Q4FY24 as towards 2.27 % for Q4FY23.
• Net Interest Income (NII) marginally improved to ₹ 3541 crore, as towards ₹ 3513 crore within the corresponding interval of earlier 12 months, registering a progress of ₹ 28 crore (0.80%).

Profitability (Year Ended March 31^st, 2024)

• Net Profit up by 61.13 % to ₹ 2549 crore for 12 months interval ended on 31^stMarch 2024, over the corresponding interval of final 12 months of ₹ 1582 crore.
• Net Interest Income (NII) grew by 10.34 % on Y-o-Y foundation to ₹ 12896 crore for 12 months interval ended on 31^stMarch 24, over corresponding interval of final 12 months of ₹ 11687 crore.
• Total Income (Interest Income plus Non-Interest Income) improved to ₹ 35434 crore (19.60 %), for 12 months interval /FY ended on 31^stMarch 24, over corresponding interval of final 12 months from ₹ 29626 crore.
• Return on Assets (ROA) improved to 0.63 % for 12 months interval/FY ended on 31^stMarch 24, over corresponding interval of final 12 months of 0.44 %.
• Return on Equity (ROE) improved to 9.53% for 12 months interval ended on 31^st March 24, over corresponding interval of final 12 months of 6.42 %.

Business Highlights:

• Total Business of the Bank, stood at ₹ 636756 crore as on March 31^st, 2024 as towards ₹ 577075 crore registering progress of ₹ 59681 crore (10.34%) on Y-o-Y foundation.
• Total Deposits up by 7.16 % to ₹ 385011 crore.
• Gross Advance elevated by 15.60 % to ₹ 251745 crore on Y-o-Y foundation as towards ₹ 217779 crore for a similar interval of previous 12 months.
• RAM (Retail, Agriculture & MSME) enterprise grew by 15.47 %. The particular person sector sensible progress stood at 13.50 % (₹ 71193 crore), 9.39 % (₹ 46063 core) & 24.99% (₹ 49870 crore), respectively, for Retail, Agriculture & MSME.
• Business per worker improved to ₹ 19.94 crore, throughout Q4FY24 as towards ₹ 18.45 crore for a similar interval of previous 12 months.

Asset Quality:

• Gross NPA improved to 4.50 % with an enchancment of 394 bps, on Y-o-Y foundation.
• Net NPA improved to 1.23 % with an enchancment of 54 bps, on Y-o-Y foundation.
• Provision Coverage Ratio stood at 93.58 %, with an enchancment of 110 bps, on Y-o-Y foundation.

Capital Adequacy:

• Total BASEL III Capital Adequacy Ratio improved to fifteen.08 % (with Common Equity Tier 1 ratio of 12.46 %), as on 31^stMarch 2024, as in comparison with 14.12 % on March 31^st2023, registering an enchancment of 96 bps.

Branch Segmentation:

• Bank is having pan India presence with community of 4500 branches with 2938 branches in rural & semi-urban areas (65.29%), 4084 ATMs and 11682 BC Points with whole 20266 Touch Points as on March 31^st ’24.

Disclaimer: This press launch serves for informational functions solely and doesn’t represent skilled recommendation. Any reliance on the data supplied is on the reader’s discretion.