Key Highlights
- Net profit for Q3 FY23 was at ₹629 Crore and grew by 53.04% on QoQ basis.
- Operating Profit was at ₹5716 Crore during Q3 FY23 grew by 12.61% on YoY basis.
- Global NIM improved by 23 bps to 3.16% in Q3 FY23 from 2.93% in Q3FY22. Global NIM for 9MFY23 improved by 32 bps on YoY basis.
- Net interest income increased by 17.63% YoY to ₹9179 Crore in Q3 FY23.
- Global Gross Advances grew by 13.43% on YoY basis to ₹856757 Crore in December’22.
- Core retail credit grew YoY by 13.54% to ₹130421Cr in December’22.
- Global Deposits grew by 7.37% on YoY basis to ₹1210359 Crore as at the end of December’22 as against ₹1127317 Crore in December’21.
- GNPA ratio improved by 312 bps to 9.76% in December’22 from 12.88% in December’21. There was an improvement of 72 bps on QoQ basis.
- NNPA ratio improved by 160 bps to 3.30% in December’22 from 4.90% in December’21. There was an improvement of 50 bps on QoQ basis.
- PCR including TWO improved by 332 bps to 85.17% in December’22 from 81.85% in December’21.
- Capital Adequacy for December’22 was at 15.15% and it improved by 24 bps on YoY basis and 41 bps on QoQ basis.
Business Performance in Key Parameters (December’22)
- Global Gross Business increased by 9.80% on YoY basis to ₹2067116 Crore as at the end of December’22 as against ₹1882623 Crore in December’21.
- Savings deposits grew by 4.04% to ₹451945 Crore in December’22.
- Current deposits were at ₹64589 Crore in December’22.
- CASA Share (Domestic) stands at 43.72% of Deposits as on December’22.
- Within Core Retail Credit:
- Housing Loan increased by 9.16% on YoY basis to ₹78684 Crore.
- Vehicle loan increased by 39.51% on YoY basis to ₹15404 Crore.
- Personal Loan increased by 40.40% on YoY basis to ₹15805 Crore.
- Agriculture Advances was at ₹138201 Crore as on December’22.
- MSME Advances was at ₹124728 Crore as on December’22.
- As on December’22, Share of RAM is 53.94% and YoY growth is 11.20%.
Profitability
- Net interest income was at ₹9179 Crore for Q3FY23 and ₹24993 Crore for 9MFY23. It grew by 17.6% and 16.8% respectively.
- Total Income of the Bank for Q3FY23 was at ₹25722 Crore and ₹70018 Crore for 9MFY23. It grew by 16.8% and 5.9% respectively on YoY basis.
- Total Interest Income of the Bank for Q3FY23 was at ₹22384 Crore and ₹61295 Crore for 9MFY23. It grew by 15.8% and 9.0% respectively on YoY basis.
- Non-interest income for Q3FY23 was at ₹3338 Crore, grew by 23.6% on YoY basis. Fee based income was at ₹1331 Crore for Q3FY23 and ₹4389 Crore for 9MFY23. It grew by 8.8% and 12.8% respectively on YoY basis.
Efficiency Ratio
- Global Cost of Deposits stood at 4.15% in Q3FY23 as compared to 3.90% in Q2FY23.
- Global Yield on Advances at 7.23% in Q3 FY23 as compared to 6.91% in Q2FY23.
- Business per employee improved to Rs 2055 lakhs in December’22 from 1883 lakh in December’21.
- Business per branch improved to Rs 20074 lakh in December’22 from 18024 lakh in December’21.
- Operating profit per employee improved to 23.1 lakh in Q3FY23 from 21.0 lakh in Q3FY22.
Asset Quality
- Gross Non-Performing Assets (GNPA) were at ₹83584 Crore as on December’22 as against
- ₹97259 Crore as on December’21 declined by 14.06% on YoY basis.
- Net Non-Performing Assets (NNPA) were at ₹26363 Crore as on December’22 as against
- ₹33879 Crore in as on December’21 declined by 22.18% YoY basis.
- Provision Coverage Ratio Including TWO improved by 332 bps YoY to 85.17% in December’22
Capital Adequacy
- CRAR was 15.15% for December’22. Tier-I is at 12.21% (CET-1 was at 10.84%, AT1 was at 1.37%) and Tier-II is at 2.94% as at December’22.
