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The bank reported standalone net profit of Rs 318.17 crore for the quarter ended September 30, 2022 as compared to Rs 250.02 crore in the same period last year, registering a year-on-year growth of 27.26 per cent. Interest income of the bank rose by 6.43 per cent at Rs 6154.95 crore for the quarter ended September 30, 2022 as against Rs 5783.29 crore in the corresponding period last year. During the July-September quarter, total income rose moderately by 8.64 per cent to Rs 7,064.96 crore from Rs 6,503.39 crore in the year ago period. Meanwhile, operating expenses increased by 4.21 per cent to Rs 5,317.17 crore from Rs 5,102.12 crore in the same period last year. Operating profit surged 24.73 per cent to Rs 1,747.79 crore from Rs. 1,401.27 crore. Provisions and Contingencies surged by 7.26 per cent at Rs 1,124.67 crore from Rs 1,048.52 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 10.12 per cent at Rs 2,747.49 crore versus Rs 2,495.00 crore in the year ago period.

Non-interest income rose 26.37 per cent year-on-year to Rs 910.01 crore. On the asset side, gross non- performing assets (NPAs) fell to 9.67 per cent of the gross advances as at the end of September 30, 2022 from a level of 15.52 per cent year earlier. Its net NPAs or bad loans too declined to 2.95 per cent of net advances on September 30, 2022 from 4.51 per cent a year ago