IGI Logo

The bank reported standalone net profit of Rs 1,126.78 crore for the quarter ended December 31, 2021 as compared to Rs 506.03 crore in the same period last year, registering a year-on-year growth of 122.67 per cent. Interest income of the bank declined by 4.92 per cent at Rs 19325.43 crore for the quarter ended December 31, 2021 as against Rs 20324.67 crore in the corresponding period last year. During the October-December quarter, total income dipped by 5.46 per cent to Rs 22,026.02 crore from Rs 23,298.53 crore in the year ago period. Meanwhile, operating expenses increased by 0.25 per cent to Rs 16,949.71 crore from Rs 16,907.72 crore in the same period last year. Operating profit slipped 20.57 per cent to Rs 5,076.31 crore from Rs. 6,390.81 crore. Provisions and Contingencies slipped by 38.27 per cent at Rs 3,353.55 crore from Rs 5,432.60 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, slipped by 6.13 per cent at Rs 7,803.24 crore versus Rs 8,312.98 crore in the year ago period. Non-interest income dipped 9.19 per cent year-on-year to Rs 2,700.59 crore. On the asset side, gross non- performing assets (NPAs) fell to 12.88 per cent of the gross advances as at the end of December 31, 2021 from a level of 12.99 per cent year earlier. Its net NPAs or bad loans too increased to 4.90 per cent of net advances on December 31, 2021 from 4.03 per cent a year ago.