Financial Results for Quarter and Year-ended 31st March 2022
Bank’s Global Business surpassed Rs.10,00,000 Cr
| Key Highlights (for year ended Mar’22) |
- Net Profit up by 31% at ₹3945 Cr in FY22 from ₹3005 Cr in FY21
- Operating profit for FY22 up by 16% at ` 12717 Cr in FY22 from ₹10967 Cr in FY21
- Net Interest Income increased by 7% YoY to ₹16728 Cr in FY22 from ₹15666 Cr in FY21
- Fee based income grew by 8% to ₹2555 Cr
- Non-Interest Income increased by 22% YoY to ₹6915 Cr in FY22 from ₹5650 Cr in FY21
- Advances increased by 6% YoY to ₹415625 Cr in FY22 from ₹390317 Cr in FY21
- RAM (Retail, Agriculture & MSME) grown by 11% to ₹242700 Cr in Mar’22 from ₹218942 Cr in Mar’21
- Retail, Agri, MSME advances grew by 15%, 12% and 6% respectively. RAM contribution to domestic advances is 61%
- Deposit increased by 10% YoY and reached to ₹593618 Cr in Mar’22.
- CASA grew by 9%, CA YoY growth 14%, SB YoY growth 8%
CASA ratio stood at 41.77% - GNPA decreased by 138 bps YoY to 8.47%, NNPA reduced by 110 bps to 2.27%.
- Provision Coverage Ratio (PCR) stood at 87.38% improved by 526 bps
- Capital Adequacy Ratio at 16.53%. CET improved by 126 bps YoY to 12.53%.
Tier I Capital improved by 123 bps YoY to 13.17%.
The Board of Directors has recommended a dividend of ₹6.50 per equity share (65%) for the year ended Mar’22 subject to requisite approvals
| Key Highlights (quarter ended Mar’22 over Mar’21) |
- Net Profit for Q4 FY22 stood at ₹984 Cr as against ₹1709 Cr in Q4FY21. In Q4 FY21, Net profit includes DTA of ₹913 Cr (for entire FY21). In FY22, DTA adjustments is spread over four quarters.
- Operating profit increased by 15% at ₹2738 Cr
| Key Highlights (quarter ended Mar’22 over Dec’21) |
Net Interest Income increased by 28% to ₹4255 Cr
- Net Profit up by 43% at ₹984 Cr
- Operating profit decreased by 17% at ₹2738 Cr mainly due to provisioning for entire Family Pension liability
| Key Highlights of Business Performance as on 31st March 2022 |
Business:
- Total Business recorded a YoY growth of 9% reaching the level of ₹1009242 Cr in Mar’22 as against ₹928388 Cr in Mar’21. On a sequential quarter basis, it increased by 5%.
- Advances grew by 6% to ₹415625 Cr in Mar’22 over ₹390317 Cr a year ago, driven primarily by the growth in RAM sector (11%); of which Retail, Agriculture and MSME grew by 15%, 12% and 6% respectively. Advances stood at ₹400432 Cr in Dec’21.
- Total Deposits grew by 10% YoYto ₹593618 Cr in Mar’22 as compared to ₹538071 Cr in the previous year and ₹562575 Cr in Dec’21.
- CASA deposits recorded a YoY growth of 9% in Mar’22. The share of CASA to total deposits was 41.77% in Mar’22 as against 42.30% a year ago. Growth in CASA was primarily driven by 14% YoY growth in Current Account deposits and 8% YoYgrowthin Savings account deposits.
- Priority Sector portfolio increased to ₹148806 Cr in Mar’22 from ₹130274 Cr in Mar’21. Priority sector advances as a percentage of ANBC stood at 45.47% as against the regulatory requirement of 40%.
Asset Quality:
- GNPA came down to 8.47% as on Mar’22 as against 9.13% in Dec’21 i.e., reduction of 66 bps on Q-o-Q basis. On yearly basis, GNPA reduced by 138 bps from 9.85% as of Mar’21.
- NNPA came down to 2.27% in Mar’22 as against 2.72% in Dec’21 i.e., reduction of 45 bps on Q-o-Q basis. On yearly basis, NNPA reduced by 110 bps from 3.37% as of Mar’21.
- Provision Coverage Ratio (PCR) improved to 87.38% as on Mar’22 as against 85.49% i.e., reduction of 189 bps on Q-o-Q basis. On yearly basis, PCR improved by 526 bps from 82.12% as of Mar’21.
Financial Ratios:
- Return on Average Assets (RoA) increased by 13 bps to 0.63% in FY22 against 0.50% in FY21.
- Return on Equity (RoE) improved by 150 bps to 12.13% in FY22 against 10.63% in FY21.
- Cost-to-Income Ratio improved by 2.34% to 46.21% in FY22 against 48.55% in FY21.
- Net Interest Margin (NIM Domestic) increased by 6 bps to 2.91% in FY22 against 2.85% in FY21.
Capital Adequacy:
- As on Mar’22, Bank’s total Capital Adequacy Ratio (CRAR) stood at 16.53% against 15.71% as of Mar’21 and 15.47% as of Dec’21.
- Tier-I CRAR was at 13.17% as of Mar’22 against 11.94% as of Mar’21 and 12.03% as of Dec’21.
Network:
- The Bank has 5732 number of branches, out of which 1938 branches are Rural, 1498 branches are Semi-Urban, 1159 branches are Urban and 1137 branches are Metro.
- The Bank has 4925 ATMs & BNAs and 9657 number of BCs.
Our Initiatives/Focus
With an endeavour to promote digital banking and provide 24×7 digital access to the customers for their personal credit requirements, we have launched Pre Approved Personal Loan (PAPL) scheme to provide instant loan to customers in simple steps. Bank is also working on a mission mode for mobile banking/UPI registration through our IndOasis App to promote digital banking, as the present day customer satisfaction is based on the promptness and quality of services.