The Net Profit for the quarter increased by 30% to Rs.52 Crs. Treasury Income registered an impressive growth of 71% y-o-y over the previous year. The Net Interest Margin continues to be healthy at 3.03%
The Net Interest Income of the Bank increased by 4% during the quarter and stood at Rs.457 crores (LY Rs.439 crores). The Other Income increased by 4% to reach a level of Rs.136 Crores (LY Rs.131 Crores).
Bank has become the 1st PSB to successfully raise equity through IPP to comply with SEBI mandate to achieve public share holding of 10%. Tier-I of the Bank is at 9.05% and the Capital to Risk-adjusted Ratio (CRAR) of the Bank stood at 11.80% (under BASEL II framework) as against a minimum of 9%, stipulated by RBI.
The Aggregate Deposits of the Bank at Rs. 56,000 crores showed an increase of over Rs.5000 crores over June 2012 (11%). Improved share of CASA deposit from 31.6% to 33.7% and reduced bulk deposits by 5% y-o-y(25% to 20%).
Rs. In crs.(%) No of A/cs (%)
Share of SB incr. (y-o-y) 2677 (20%) 11.4 lacs (24%)
Current A/c (y-o-y) 177 (8%) 0.22 lacs (18%)
Total Advances rose by Rs.3,690 crores (9%) over June 2012 to reach Rs.44,100 crores.
Retail Advances increased y-o-y from 37% to 40% of total assets.
Y-O-Y Growth –Home Loan-17%, Auto-27% & Agri-11%
Gross non-performing assets rose to Rs.2,473 crores( LY Rs.1,886 Crores ) due to fresh slippages mainly in the Corporate segment. Gross NPA Ratio - 5.61% and Net NPA Ratio at 3.43%.
During Q-1,FY14 the Bank has opened two new Zonal Offices at Belgaum and Mangalore and 3 new Regional Offices at Karwar,Gulbarga & Chamrajnagar. The Bank has opened 44 branches in the last FY and proposes to open 220 branches during the current FY to reach the 1000 mark in the Centenary Year.
The Bank has taken strong strides in setting up POS Machines, Cash Dispensing Machines, Multi Functional Kiosks, SSKs, Green Channel Counters, ATMs in large numbers and has been successful in migrating 36%( LY-28%) of transactions through Alternate Delivery Channels.
