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KEY HIGHLIGHTS (Q2FY24)

* Net Profit increased by 62% YoY to Rs.1,870 Cr.

* Operating Profit stood at Rs.3,004 Cr for Q3FY24 against Rs.3,652 Cr in Q3FY23 and Rs.3,756 Cr in Q2FY24.

 * Net Interest Income (NII) stood at Rs.5,463 Cr for Q3FY24 against Rs.5,595 Cr for Q3FY23 and Rs.5,740 Cr in Q2FY24.

 * Yield on Advances (Dom.) improved by 53 bps YoY.    Gross NPA ratio down by 231 bps YoY.

* Net NPA ratio down by 20 bps YoY.

* Provision Coverage Ratio (PCR) at 89.95%.

* CRAR stood at 16.06%, with CET-1 ratio at 13.16%.

* Global Business increased by 9.60% YoY.

* Global Deposits increased by 8.28% YoY.

* Global Advances increased by 11.29% YoY.

* RAM Advances grew by 13.61% YoY and it constitutes 55.24% of Advances

* Agriculture Credit grew by 14.23% YoY. MSME Credit grew by 10.61% YoY.

· CASA deposits increased by 5.92% YoY and CASA ratio at 43.88%.

Profitability:

Q3-FY24:

* Net Profit for the quarter improved by 62% YoY and stood at Rs.1,870 Cr for Q3FY24 against Rs.1,151 Cr in Q3FY23. On a sequential basis, Net Profit improved by 28% from Rs.1,458 Cr in Q2FY24.

* Operating Profit stood at Rs.3,004 Cr for Q3FY24 against Rs.3,652 Cr in Q3FY23 and Rs.3,756 Cr in Q2FY24.

* Net Interest Income (NII) stood at Rs.5,463 Cr for Q3FY24 against Rs.5,595 Cr for Q3FY23 and Rs.5,740 Cr in Q2FY24.

* Non-Interest Income stood at to Rs.1,193 Cr for Q3FY24 against Rs.1,432 Cr in Q3FY23 and Rs.1,688 Cr in Q2FY24.

9Months ended FY24:

* Net Profit increased by 83% YoY and stood at Rs.4,879 Cr for 9 month ended FY’24 against Rs.2,672 Cr in the corresponding period of last year.

* Operating Profit improved by 14% YoY and stood at Rs.10,511 Cr for 9-month ended FY’24 against Rs.9,209 Cr in the corresponding period of last year.

* Net Interest Income (NII) increased by 16% YoY and stood at Rs.17,117 Cr for 9-month ended FY’24 against Rs.14,751 Cr in the corresponding period of last year.

* Non-Interest Income increased by 9% YoY and stood at Rs.4,344 Cr for 9- month ended FY’24 against Rs.4,001 Cr in the corresponding period of last year.

Ratios (Q3-FY24):

* NIM (Global) stood at 2.85% in Q3FY24 against 3.28% in Q3FY23 and 3.08% in Q2FY24.

* NIM (Domestic) stood at 3.21% in Q3FY24 against 3.72% in Q3FY23 and 3.47% in Q2FY24.

* Return on Assets (Global) improved by 27 bps YoY to 0.82% in Q3FY24 against 0.55% in Q3FY23. On a sequential basis it improved by 15 bps from 0.67% in Q2FY24.

* Cost to Income ratio (Global) stood at 54.87% in Q3FY24 against 48.03% in Q3FY23 and 49.44% in Q2FY24.

* Yield on Advances (Global) improved by 70 bps YoY to 8.37% in Q3FY24 against 7.67% in Q3FY23 and 8.54% in Q2FY24.

*  Cost of Deposits (Global) stood at 4.62% in Q3FY24 against 3.72% in Q3FY23 and 4.49% in Q2FY24.

Ratios (9Months ended-FY24):

* NIM (Global) improved by 2 bps YoY to 2.98% in 9M-FY24 against 2.96% in 9M-FY23.

* NIM (Domestic) stood at 3.35% in 9M-FY24 against 3.37% in 9M-FY23.

* Return on Assets (RoA) improved by 28 bps YoY to 0.72% in 9M-FY24 against 0.44% in 9M-FY23.

* Return on Equity (RoE) improved by 434 bps YoY to 13.75% in 9M-FY24 against 9.41% in 9M-FY23.

* Cost to Income ratio (Global) stood at 51.02% in 9M-FY24 against 50.89% in 9M-FY23.

* Credit Cost improved by 37 bps to 0.54% 9-Months ended 31 st Dec. 2023

* Yield on Advances (Global) improved by 117 bps to 8.34% in 9M-FY24 against 7.17% in 9M-FY23.

* Cost of Deposits (Global) stood at 4.44% in 9M-FY24 against 3.58% in 9MFY23.

Business:

* Global Business increased by 9.60% YoY from Rs.11,61,441 Cr in Dec’22 to Rs.12,72,887 Cr in Dec’23. (YTD Growth: 7.38%)

* Global Deposits increased by 8.28% YoY from Rs. 6,53,691 Cr in Dec’22 to Rs. 7,07,827 Cr in Dec’23. (YTD Growth: 5.71%)

* Global Advances increased by 11.29% YoY from Rs. 5,07,750 Cr in Dec’22 to Rs. 5,65,060 Cr in Dec’23. (YTD Growth: 9.54%)

* Overseas Deposits increased by 12.07% YOY to Rs. 1,08,690 Cr and Overseas Advances increased by 10.99% YOY to Rs. 90,047 Cr in Dec’23.

* Domestic Deposits increased by 7.62% YoY from Rs.5,56,707 Cr in Dec’22 to Rs.5,99,137 Cr in Dec’23. (YTD Growth: 5.66%)

* Domestic CASA went up by 5.92% YoY from Rs.2,46,718 Cr in Dec’22 to Rs.2,61,335 Cr in Dec’23 and CASA ratio stood at 43.88%. (YTD Growth of CASA Deposits: 3.64%)

* Domestic Advances increased by 11.34% YoY from Rs. 4,26,622 Cr in Dec’22 to Rs. 4,75,012 Cr in Dec’23. (YTD Growth: 10.05%)

* RAM Advances increased by 13.61% YoY to Rs.2,62,390 Cr, constituting to 55.24% of Advances in Dec’23. (YTD Growth: 10.30%)

* Retail Credit grew by 15.40% YoY to Rs.1,05,445 Cr in Dec’23. (YTD Growth: 11.33%)

* Agriculture Credit grew by 14.23% YoY to Rs.80,345 Cr in Dec’23. (YTD Growth: 10.99%)

* MSME Credit grew by 10.61% YoY to Rs.76,600 Cr in Dec’23. (YTD Growth: - 8.23%).

Asset Quality:

* Gross NPA declined by 22.24% YoY from Rs.38,885 Cr in Dec’22 to Rs.30,237 Cr in Dec’23.

* Net NPA declined by 0.25% YoY from Rs.7,646 Cr in Dec’22 to Rs.7,627 Cr in Dec’23.

* GNPA ratio improved by 231 bps from 7.66% in Dec’22 to 5.35% in Dec’23.

* Net NPA ratio improved by 20 bps from 1.61% in Dec’22 to 1.41% in Dec’23.

* Provision Coverage Ratio (PCR) stood at 89.95% in Dec’23 against 90.27% in Dec’22.

Capital Adequacy:

* As on 31.12.2023, Bank's total Capital Adequacy Ratio (CRAR) was at 16.06% against 15.60% in Dec’22.

* CET-1 ratio stood at 13.16% as on Dec’23.

Priority Sector:

* Priority Sector Advances increased by 10.51% YOY and achieved 43.62% of ANBC as on Dec’23. Agricultural advances achieved 19.72% of ANBC.

* Advances to Small & Marginal Farmers achieved 12.68% of ANBC in Dec’23 against regulatory norm of 10%.

* Advances to Weaker Sections achieved 15.82% of ANBC in Dec’23 against regulatory norm of 12%

Financial Inclusion:

Digital Banking:

* Internet Banking users: Increased to 8.8 million in Dec’23 from 8.4 million in

 Dec’22.

* Mobile Banking users: Increased to 10.1 million in Dec’23 from 7.1 million in

 Dec’22.

* Number of UPI users increased to 18.0 million in Dec’23 from 14.8 million in

 Dec’22.

Branch Network:

* As on 31st Dec’23, the Bank has 5139 number of Domestic branches.

* Rural: 1861 (36%), Semi-Urban: 1457 (28%), Urban: 831 (16%), Metro: 990 (19%).

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