IGI Logo

The bank reported standalone net profit of Rs 308.44 crore for the quarter ended June 30, 2022 as compared to Rs 1023.46 crore in the same period last year, registering a year-on-year?decline?of 69.86 per cent. Interest income of the bank declined by 0.87 per cent at Rs 18757.04 crore for the quarter ended June 30, 2022 as against Rs 18920.92 crore in the corresponding period last year. During the April-June quarter, total income dipped by 5.42 per cent to Rs 21,294.03 crore from Rs 22,515.00 crore in the year ago period. Meanwhile, operating expenses dropped by 3.06 per cent to Rs 15,914.82 crore from Rs 16,416.35 crore in the same period last year. Operating profit slipped 11.80 per cent to Rs 5,379.21 crore from Rs. 6,098.65 crore. Provisions and Contingencies surged by 2.40 per cent at Rs 4,790.19 crore from Rs 4,678.05 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 4.38 per cent at Rs 7,542.84 crore versus Rs 7,226.58 crore in the year ago period. Non-interest income dipped 29.41 per cent year-on-year to Rs 2,536.99 crore. On the asset side, gross non- performing assets (NPAs)?fell?to 11.27 per cent of the gross advances as at the end of June 30, 2022 from a level of 14.33 per cent year earlier. Its net NPAs or bad loans too?declined?to 4.28 per cent of net advances on June 30, 2022 from 5.84 per cent a year ago.