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The bank reported standalone net profit of Rs 2,022.03 crore for the quarter ended June 30, 2022 as compared to Rs 1177.47 crore in the same period last year, registering a year-on-year growth of 71.73 per cent.

Interest income of the bank rose by 8.38 per cent at Rs 18176.64 crore for the quarter ended June 30, 2022 as against Rs 16771.65 crore in the corresponding period last year. During the April-June quarter, total income rose moderately by 10.10 per cent to Rs 23,351.96 crore from Rs 21,210.06 crore in the year ago period. Meanwhile, operating expenses increased by 8.32 per cent to Rs 16,745.73 crore from Rs 15,459.40 crore in the same period last year. Operating profit surged 14.88 per cent to Rs 6,606.23 crore from Rs. 5,750.66 crore. Provisions and Contingencies slipped by 1.03 per cent at Rs 3,690.05 crore from Rs 3,728.52 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 10.38 per cent at Rs 6,784.73 crore versus Rs 6,146.61 crore in the year ago period. Non-interest income rose 16.60 per cent year-on-year to Rs 5,175.32 crore.

On the asset side, gross non- performing assets (NPAs) fell to 6.98 per cent of the gross advances as at the end of June 30, 2022 from a level of 8.50 per cent year earlier. Its net NPAs or bad loans too declined to 2.48 per cent of net advances on June 30, 2022 from 3.46 per cent a year ago.