Q1 HIGHLIGHTS
Total business reached all time high of Rs.173333 crore up by 19%
Deposits crossed Rs.100000 crore mark and reached Rs.105369 crore up by 22% Operating Profit up by 28% Net Profit up by 19%
Total business of the Bank reached an all time high figure of Rs.173333 crore comprising deposits of Rs.105369 crore and advances of Rs.67964 crore. Treasury trading profit for June 2013 quarter is at a record level of Rs.141.14 cr against Rs.19.77 cr for June 12 quarter, up by more than 600%.
Cost of deposits for the June’13 quarter reduced to 7.84% against 8.06% for June’12 quarter and 8.07 % for the FY 2012-13. Total interest income on advances for the 3 months ended June’13 is at Rs.1805 crore against Rs.1675 crore for the three months ended June’12 registering a growth of 7.77%. Similarly, income on investments for the 3 months ended Jun’13 improved to Rs.577 crore against Rs.514 crore for the corresponding previous year period, up by 12%. Operating profit of the Bank for June’13 quarter is Rs.330.39 crore against Rs.258.84 crore for the corresponding quarter of the previous year, up by 28%.
Capital to risk weighted assets ratio is at 10.90% (Basel II). The ratio as per Basel III is at 10.56%. Both the ratios are above the minimum required levels stipulated by RBI.
Total advances of the Bank as on 30.06.2013 are at 67964 cr. Within the overall advances, priority sector advances of the Bank aggregated to Rs.19005 Crore registering a growth of 15%. Agricultural loans increased to Rs.6395 Crore, up by 24% and loans to MSME (priority) sector reached Rs.10530 Crore registering a growth of 21%. Loans to women beneficiaries increased by 22% and weaker sections by 25%. Educational loan portfolio of the Bank was at Rs. 669 Crore up by 4.69%. Gross and Net NPA ratios as at 30th June 2013 are at 2.42% and 1.45% against 2.85% and 1.67% respectively as on 30th June 2012. Provision coverage ratio is at 67.28%
MAJOR DEVELOPMENTS / INITIATIVES:
Total number of branches increased to 1400 as on 30.06.2013. Further 9 new branches were opened after 30.06.2013 taking the total number of branches to 1409.
Total number of ATMs reached 938. Number of ATMs opened during June 2013 quarter is 64.
Under Financial inclusion, the Bank has covered all the 379 villages under above 2000 population category. 16 Ultra Small Branches have been upgraded to low cost F1 Branches during June 2013 quarter.
The Bank has successfully participated in the first phase of Direct Benefit Transfer(DBT) in 43 pilot districts by opening 13049 accounts of Govt. scheme beneficiaries. The Bank also successfully participated in the 2nd phase of DBT in 78 districts.
The Bank has participated in the Electronic Benefit Transfer (EBT) scheme of Govt. of Karnataka to pay Social Security Pension in ‘One District One Bank’ model in Mandya District from January 2013 and so far disbursed Rs.21.77 crore involving 4.40 lakh transactions.
GUIDANCE MARCH 2014
Bank aims to reach a business level of Rs.210000 crore with a deposit target of Rs. 122000 crore and advance target of Rs.88000 crore.
Opening of new branches to take the total number of branches to 1500. Rolling out of new ATMS and reaching Branch and ATM ratio of 1:1.
Emphasis on increasing the fee based income.
Focus on special watch accounts to arrest further slippages and also on recoveries in NPA accounts for upgradation.
Improving the Credit Deposit ratio by improving the overall credit portfolio of the Bank.
Focus on improving the NIM by mobilising more CASA and Retail deposits to reduce costs and increasing retail / mid-corporate advances for improving the yields.
