KEY HIGHLIGHTS – Q3FY23
* Net Profit for Q3FY23 improved to Rs.1,151 Cr. up by 12% YoY and 20% sequentially.
* Operating Profit improved to Rs.3,652 Cr. up by 74% YoY and by 8% sequentially.
* Return on Assets (RoA) improved to 0.55%.
* NIM stood at 3.28%, improved by 101 bps YoY and 24 bps sequentially.
* NII stood at Rs.5,596 Cr up by 64% YoY and 10% sequentially.
* Yield on Advances at 7.67%, up by 65 bps YoY and 46 bps sequentially.
* Gross NPA ratio at 7.66%, down by 280 bps YoY.
* Net NPA ratio at 1.61% down by 105 bps YoY.
* Provision Coverage Ratio (PCR) at 90.27%.
* Slippage ratio stood at 0.27%, declined by 20 bps YoY.
* CRAR stood at 15.60% with Tier-I at 13.61% & CET-1 at 12.77%.
* RAM Advances grew by 13.24% YoY and it constitutes 54.14% of Gross Advances.
* CASA deposits increased by 3.70% YoY and CASA% at 44.56%.
Profitability:
Q3-FY23:
* Net Profit for the quarter improved by 12% YoY and stood at Rs.1,151 Cr for Q3FY23 against Rs.1,027 Cr in Q3FY22. On a sequential basis, Net Profit improved by 20% from Rs.960 Cr in Q2FY23.
* Operating Profit improved by 74% YoY and stood at Rs.3,652 Cr for Q3FY23 against Rs.2,096 Cr in Q3FY22. On a sequential basis, Operating Profit improved by 8% from Rs.3,374 Cr in Q2FY23.
* Net Interest Income (NII) improved by 64% YoY and stood at Rs.5,596 Cr for Q3FY23 against Rs.3,408 Cr for Q3FY22. On a sequential basis, it increased by 10% from Rs.5,083 Cr in Q2FY23.
* Non-Interest Income stood at to Rs.1,432 Cr for Q3FY23 against Rs.1,835 Cr in Q3FY22. On a sequential basis, it increased from Rs.1,417 Cr in Q2FY23.
9-Months ended-FY’23:
* Net Profit stood at Rs.2,672 Cr against Rs.2,798 Cr for 9 month ended FY’23.
* Operating Profit improved by 22% YoY and stood at Rs.9,209 Cr against Rs.7,523 Cr for 9-month ended period.
* Net Interest Income (NII) increased by 46% YoY and stood at Rs.14,751 Cr for against Rs.10,076 Cr for 9-month ended period.
* Non-Interest Income stood at Rs.4,001 Cr against Rs.6,292 Cr for 9-month ended period.
Ratios (Q3-FY23):
* NIM (Global) improved by 101 bps YoY to 3.28% in Q3FY23 against 2.27% in Q3FY22. It improved by 24 bps on a sequential basis from 3.04% in Q2FY23.
* NIM (Domestic) improved by 121 bps YoY to 3.72% in Q3FY23 against 2.51% in Q3FY22. It improved by 23 bps on a sequential basis from 3.49% in Q2FY23.
* Return on Assets (RoA) improved to 0.55% in Q3FY23 against 0.51% in Q3FY22. On a sequential basis RoA improved by 8 bps from 0.47% in Q2FY23.
* Cost to Income ratio (Global) improved by 1200 bps YoY to 48.03% in Q3FY23 against 60.03% in Q3FY22. It improved by 7 bps on sequential basis from 48.10% in Q2FY23.
* Yield on Advances (Global) improved by 65 bps YoY to 7.67% in Q3FY23 against 7.02% in Q3FY22. It improved by 46 bps on sequential basis from 7.21% in Q2FY23.
* Cost of Deposits (Global) stood at 3.72% in Q3FY23 against 3.68% in Q3FY22 and 3.54% in Q2FY23.
Business:
* Global Business increased by 9.52% YoY from Rs.10,60,519 Cr in Dec’21 to Rs.11,61,441 Cr in Dec’22. (YTD Growth: 7.05%)
* Global Deposits increased by 4.91% YoY from Rs. 6,23,120 Cr in Dec’21 to Rs. 6,53,691 Cr in Dec’22. (YTD Growth: 4.11%)
* Global Advances increased by 16.08% YoY from Rs. 4,37,399 Cr in Dec’21 to Rs. 5,07,750 Cr in Dec’22. (YTD Growth: 11.10%)
* Domestic Deposits increased by 2.08% YoY from Rs. 5,45,359 Cr in Dec’21 to Rs.5,56,707 Cr in Dec’22. (YTD Growth: 1.07%)
* Domestic CASA went up by 3.70% YoY from Rs.2,37,906 Cr in Dec’21 to Rs.2,46,718 Cr in Dec’22 and CASA ratio stood at 44.56%. (YTD Growth: 0.51%)
* Domestic Advances increased by 11.57% YoY from Rs. 3,82,365 Cr in Dec’21 to Rs. 4,26,622 Cr in Dec’22. (YTD Growth: 8.28%)
* RAM Advances increased by 13.24% YoY to Rs.2,30,955 Cr, constituting to 54.14% of Advances in Dec’22. (YTD Growth: 6.64%)
* Retail Credit grew by 20.95% YoY to Rs.91,371 Cr in Dec’22. (YTD Growth: 13.26%)
* Agriculture Credit grew by 9.15% YoY to Rs.70,334 Cr in Dec’22. (YTD Growth: 5.88%), however, Agriculture Credit growth (excluding PSLC & RIDF), was 16.88% YoY.
* MSME Credit grew by 8.27% YoY to Rs.69,250 Cr in Dec’22. (YTD Growth: -0.31%)
Asset Quality:
* Gross NPA declined by 7.45% QoQ from Rs.42,014 Cr in Sep’22 to Rs.38,885 Cr in Dec’22.
* Net NPA declined by 13.47% QoQ from Rs.8,836 Cr in Sep’22 to Rs.7,646 Cr in Dec’22.
* GNPA ratio improved by 85 bps from 8.51% in Sep’22 to 7.66% in Dec’22.
* Net NPA ratio improved by 31 bps from 1.92% in Sep’22 to 1.61% in Dec’22.
* Provision Coverage Ratio (PCR) stood at 90.27% in Dec’22 against 88.96% in Sep’22.
Capital Adequacy:
* As on 31.12.2022, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.60% against 15.51% in Sep’22.
* CET-1 ratio stood at 12.77% as on Dec’22.
Priority Sector, Financial Inclusion & Digital Banking:
* Priority Sector Advances increased by 8.15% YoY and achieved 43.19% of ANBC as on Dec’22.
* Agriculture Advances increased by 9.15% YoY (however excl. PSLC & RIDF, growth is 16.88% YoY) and achieved 18.89% of ANBC as on Dec’22.
* Financial Inclusion performance:
* PMSBY: Against a full-year target of 55%, achieved 53.77%.
* PMJJBY: Against a full-year target of 55%, achieved 38.95%.
* APY per Branch: Against a full-year target of 80, achieved 111.
* Digital Banking:
* Internet Banking users: Increased to 8.37 million in Dec’22 from 8.08 million in Mar’22.
* Mobile Banking users: Increased to 7.58 million in Dec’22 from 6.10 million in Mar’22.
* UPI users: Increased to 14.84 million in Dec’22 from 12.96 million in Mar’22.
