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The bank reported standalone net profit of Rs 561.49 crore for the quarter ended June 30, 2022 as compared to Rs 720.00 crore in the same period last year, registering a year-on-year decline of 22.02 per cent. Interest income of the bank rose by 6.99 per cent at Rs 9972.64 crore for the quarter ended June 30, 2022 as against Rs 9321.31 crore in the corresponding period last year. During the April-June quarter, total income dipped marginally by 4.90 per cent to Rs 11,124.36 crore from Rs 11,698.13 crore in the year ago period. Meanwhile, operating expenses increased by 0.56 per cent to Rs 8,941.55 crore from Rs 8,891.92 crore in the same period last year. Operating profit slipped 22.22 per cent to Rs 2,182.81 crore from Rs. 2,806.21 crore. Provisions and Contingencies slipped by 22.67 per cent at Rs 1,321.74 crore from Rs 1,709.12 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 29.51 per cent at Rs 4,072.43 crore versus Rs 3,144.61 crore in the year ago period.

Non-interest income dipped 51.54 per cent year-on-year to Rs 1,151.72 crore. On the asset side, gross non- performing assets (NPAs) fell to 9.30 per cent of the gross advances as at the end of June 30, 2022 from a level of 13.51 per cent year earlier. Its net NPAs or bad loans too declined to 2.21 per cent of net advances on June 30, 2022 from 3.35 per cent a year ago.