Date: 18th October 2024

Financial Results for the Quarter/Half year ended 30th Sep 2024.

Performance Highlights on Year-on-Year basis: (Quarter ended Sep’24 vis-a-vis Quarter ended Sep’23)

• Total Business grew by 7.07 % to ₹ 644858 crore from ₹ 602284 crore.
• Total Deposits up by 5.57 % to ₹ 391914 crore from ₹ 371252 crore
• CASA Deposits have increased by ₹ 8432 crore to ₹ 191270 crore from ₹ 182838 crore, reflecting Y-o-Y growth of 4.61% & having a share of 48.93% of total Deposits.
• Gross Advance increased by 9.48 % to ₹ 252944 crore from ₹ 231032 crore.
• Credit to Deposit (CD) Ratio improved to 64.71 % registering an improvement of 228 bps, from 30th Sep 2023.
• Gross NPA improved to 4.59 %, registering an improvement of 3 bps over 4.62%.
• Net NPA improved to 0.69 %, registering an improvement of 95 bps over 1.64%.
• Provision Coverage Ratio improved to 96.31%, registering an improvement of 377 bps over 92.54%.
• Net Profit up by 50.91 % to ₹ 913 crore Y-o-Y, from ₹ 605 crore.
• Net Interest Income for Sep 30, 2024 quarter has increased to ₹ 3410 crore as compared to ₹ 3028 crore for the corresponding quarter ended Sep 30, 2023.
• Net Interest Margin (NIM) for the quarter is at 3.44% as of the end of Sep 30, 2024, when compared to 3.29% as of the end of Sep 30, 2023 quarter.
• Return on Assets (ROA) improved to 0.85 % for the quarter ended Sep 24, registering an improvement of 23 bps, over the corresponding quarter of last year.
• Return on Equity (ROE) improved to 12.76 % (annualized) for the quarter ended Sep 24, registering an
• improvement of 352 bps, over the corresponding quarter of last year.
• CRAR improved to 16.27 %, of which Tier I is 14.01 %, registering an improvement of 145 bps.

Profitability (Quarter year ended 30th Sep 2024) on Year-on-Year basis:

• Total Income (Interest Income plus Non-Interest Income) for Q2 FY-25 improved by 17.08 %, from ₹ 8412 crore in Q2 FY-24 to ₹ 9849 crore for Q2 FY-25.
• Net Interest Income (NII) grew by 12.62 % on Y-o-Y basis to ₹ 3410 crore for quarter ended Sep 30th 2024, over corresponding period of last year of ₹ 3028 crore.
• Operating Profit grew by 41.50 % on Y-o-Y basis to ₹ 2165 crore for quarter ended Sep 30th 2024, over corresponding period of last year of ₹ 1530 crore.
• Net Profit up by 50.91 % to ₹ 913 crore in Q2 FY-25 against ₹ 605 crore in Q2 FY-24.
• Return on Assets (ROA) improved to 0.85% for Q2 FY-25 as against 0.62% for Q2 FY-24.
• Return on Equity (ROE) also improved to 12.76 % annualised for Q2 FY-25 as against 9.24 % for Q2 FY-24.

 Business Highlights:

• Total Business of the Bank, stood at ₹ 644858 crore as on Sep 30th, 2024 as against ₹ 602284 crore registering growth of ₹ 42574 crore (7.07%) on Y-o-Y basis.
• Total Deposits up by 5.57 % to ₹ 391914 crore from ₹ 371252 crore on Y-o-Y basis.
• Gross Advance increased by 9.48 % to ₹ 252944 crore on Y-o-Y basis as against ₹ 231032 crore for the same period of preceding year.
• RAM (Retail, Agriculture & MSME) business grew by 19.95 %. The individual sector wise growth stood at 15.48 % (₹ 76373 crore), 17.34 % (₹ 50280 core) & 29.45% (₹ 55552 crore), respectively, for Retail, Agriculture & MSME.
• Business per Employee has improved to ₹ 19.02 crore for the quarter ended Sep 30, 2024 from ₹18.60 crore on Y-o-Y basis.

 Asset Quality:

• Gross NPA improved to 4.59 % with an improvement of 3 bps, on Y-o-Y basis.
• Net NPA improved to 0.69 % with an improvement of 95 bps, on Y-o-Y basis.
• Provision Coverage Ratio stood at 96.31 %, with an improvement of 377 bps, on Y-o-Y basis.

 Capital Adequacy:

• Total BASEL III Capital Adequacy Ratio improved to 16.27 % (with Common Equity Tier 1 ratio of 14.01 %), as on
• 30th Sep 2024, as compared to 14.82 % on Sep 30th 2023, registering an improvement of 145 bps.
  Branch Segmentation:
• Bank is having pan India presence with network of 4528 branches with 2955 branches in rural & semi-urban areas (65.26%), 4085 ATMs and 11949 BC Points with total 20562 Touch Points as on Sep 30th 2024.