Its net interest margin, a gauge for efficiency, has improved to 3.27 per cent from 2.57 per cent over the same period. Operating profit grew 40.22 per cent at Rs 1061 crore as against Rs 756 crore. Its net interest income grew 34 per cent at Rs 1500 crore.
The bank recovered Rs 258 crore following DHFL’s corporate resolution exercise.
Its asset quality also improved with the gross non-performing assets ratio falling to 5.6 per cent at the end of September compared with 8.8 per cent a year back. Net NPA reduced to 1.7 per cent from 3.3 per cent. Its provision coverage ratio was at 92.4 per cent.
The Pune-based lender grew its advances by 11.44 per cent year-on-year to Rs 1.15 lakh crore. “We are envisaging credit growth of 14-15 per cent for the entire FY22,” chief executive AS Rajeev said.
It has raised Rs 1000 crore in bonds Wednesday to augment capital. The fund is raised at 7.8 per cent coupon.
“We have decided to raise another Rs 1000 crore in tier 2 bonds later in the year to keep its capital adequacy ratio (CAR) at around 14.5 per cent level,” the CEO said.
Its CAR now stands at 14.67 per cent, an improvement from 13.18 per cent a year back.
