Deposits of the Bank have crossed Rs.1,00,000 Crore mark and increased to Rs.1,07,936 Crore as on 30.09.2013 against Rs.85,194 Crore as on 30.09.2012, up by 26.69%. Advances of the Bank as on 30.09.2013 were at Rs.71,434 Crore against Rs. 59,803 Crore as on 30.09.2012 up by 19.45%.
Increase in the Net Interest Income for September, 2013 quarter by 29.33%(Y-o-Y) has lead to an improvement in the operating profit by 27.47% ie., from Rs.214.09 Crore for Sep’12 quarter to Rs.272.89 Crore for Sep’13 quarter. This is after providing Rs.35.00 Crore towards wage arrears in lieu of the 10th Bipartite Settlement which is in progress and Rs.70.00 Crore towards employee benefits.
Net Interest Income for the half year ended Sep’13 improved to Rs.1062.32 Crore against Rs.905.02 Crore for the Sep’12 half year, up by 17.38%. Similarly net profit for the first half of the current financial year improved to Rs.268.68 Crore from Rs.234.73 Crore for the corresponding period of the previous year registering a growth of 14.46%.
Priority sector advances of the Bank increased to Rs.20816 Crore as on 30.09.2013 from Rs.17828 Crore as on 30.09.2012 registering a growth of 16.76%. Within the priority advances, agricultural loans increased to Rs.6713 Crore from Rs.5914 Crore up by 13.51% and loans to MSE(priority) sector registered a 15.80% growth to reach Rs.9357 Crore. Loans to weaker sections stood at Rs.5969 Crore and loans to women beneficiaries stood at Rs.4682 Crore.
As regards asset quality, Gross NPA ratio and Net NPA ratio of the Bank as on 30th Sep, 2013 stood at 2.77% and 1.75% respectively against 3.17% and 1.90% respectively as of 30th Sep, 2012. Capital to Risk Weighted Assets ratio as on 30th Sep, 2013 as per Basel II norms is at 11.01% as and as per Basel III norms at 10.63%. CRAR of the Bank both as per Basel II and Basel III norms is above the minimum required level stipulated by RBI.
MAJOR DEVELOPMENTS DURING THE QUARTER:
• Chairman and Managing Director of the Bank received the following awards:
1. “CEO with HR Orientation” award by Institute of Public Enterprises.
2. “Best Banker – HR” award by Sunday Standard of The New Indian Express group
3. “Amity Leadership award for business excellence by leveraging IT” by Amity University
• Total number of branches reached 1457 as at the end of Sep’13. Further 6 more branches have been opened taking the total number to 1463.
• Total number of ATMs reached 1001 as at the end of Sep’13. Further, 52 ATMs have been opened taking the total number to 1053.
• Vijaya Kisan Home Loan, V-Epass book and SME Vijay have been launched.
• Under Financial Inclusion, the Bank has so far covered 2187 villages through 669 BCAs, 98 Branches and 16 ATMs.
• Under Direct Benefit Transfer Scheme in 121 districts, the Bank has 355 branches operating in the districts of which ATMs have been installed in 338 Branches. Remaining 17 branches will be provided ATMs by 30.11.2013.
GUIDANCE 2013-14 :
• The Bank aims to reach a total business level of Rs.2,00,000 Crore by December’13 and Rs.2,10,000 by March’14.
• Further new branches and ATMs shall be opened during the current financial year to take the total number of Branch and ATMs to 1500 each by March’14.
• Continuous monitoring of the credit portfolio to curtail fresh slippages.
• To make concerted efforts for recovery / upgradation of delinquent borrowal accounts.
• To increase the fee based income through various sources.
• To improve core earning ratios by increasing the Retail Credit, CASA and Credit Deposit ratio.
