IGI Logo

Key Highlights

* Net profit for Q2 FY23 was at Rs.411 Crore and grew 33.4% on QoQ basis.

* Operating Profit was at Rs.5567 Crore during Q2 FY23 grew by 38.5% on YoY basis.

* Global NIM improved by 61 bps to 3.00% in Q2 FY23 from 2.39% in Q2FY’22. For September’22.

* Global NIM for Q2FY23 improved by 21 bps on QoQ basis.

* Net interest income increased by 30.2% YoY to Rs.8271 Crore in Q2 FY23.

* Cost to income ratio for Q2 FY23 was at 49.93% an improvement of 834 bps on YoY basis.

* Global Gross Advances grew by 12.84% on YoY basis to Rs.830212 Crore in September’22.

* Retail Credit increased by 16.95% on YoY basis to Rs.155409 Crore as at the end of September’22 with Core Housing loan having grown by 7.8% on YoY basis.

* Global Deposits grew by 7.00% on YoY basis to Rs.1193501 Crore as at the end of September’22 as against Rs.1115373 Crore in September’21.

* CASA Share stands at 44.91% of Domestic Deposits as on September’22.

* GNPA ratio improved by 315 bps to 10.48% in September’22 from 13.63% in September’21. There was an improvement of 79 bps on QoQ basis.

* NNPA ratio improved by 169 bps to 3.80% in September’22 from 5.49% in September’21. There was an improvement of 48 bps on QoQ basis.

* PCR including TWO improved by 319 bps to 83.96% in September’22 from 80.77% in
September’21.

* Credit Cost improved on QoQ basis by 70 bps to 1.76% in Q2FY23.

Business Performance in Key Parameters (September’22)

* Global Gross Business increased by 9.33% on YoY basis to Rs.2023712 Crore as at the end of September’22 as against Rs.1851097 Crore in September’21.

* Savings deposits grew by 5.84% to Rs.451707 Crore in September’22.

* Current deposits were at Rs.72741 Crore in September’22.

* As on September’22, Share of RAM is 53.5% and YoY growth is 8.85%

* Within Retail Credit:

• Housing Loan increased by 7.8% on YoY basis to Rs.76877 Crore.
• Vehicle loan increased by 35.3% on YoY basis to Rs.14038 Crore.
• Personal Loan increased by 36.4% on YoY basis to Rs.14294 Crore.

* Agriculture Advances increased YoY by 4.81% to Rs.140303 Crore.

* MSME Advances increased YoY by 4.57% to Rs.130218 Crore.

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer