Net Profit at INR 207 Cr – Highest since December 2018.
· Corporate recoveries / resolutions at INR 1,643 Cr far outpace slippages of INR 1,258 Cr and almost entirely offset total slippages. Provisions for Q1FY22 at INR 644 Cr lower by 87.7% Q-o-Q- Lowest since December 2018
· CASA Ratio at 27.4% up ~130 bps Q-o-Q- Highest since December 2019. ~1.5 Lac CASA accounts opened in Q1FY22
· Retail Advances cross INR 50,000 Cr mark; Retail: Corporate Mix at 53:47 (51:49 last quarter).
· New Business Generation continues for Q1FY22: Retail Disbursements at INR 5,006 Cr, SME Disbursements1 at INR 3,242 Cr, Wholesale Banking Disbursements at INR 3,625 Cr
· Sustained momentum in recoveries with INR 602 Cr of Cash Recoveries in Q1FY22
· CET I ratio2 improves by ~40 bps Q-o-Q to 11.6%; Total CRAR at 17.9%
· Continued Leadershipin Technology: UPI: #1 in P2M transactions, ~46% vol. market share, IMPS: #1 Remitter Bank3
· ~ 80% employees vaccinated during free vaccination drives across the country. Implemented Work from Anywhere which provides employees improved flexibility and support
Financial Highlights
· NII for Q1FY22 at INR 1,402 Cr. NIMs at 2.1%
· Non-Interest income at INR 1,056 Cr up 29.5% Q-o-Q
· Operating expenses for Q1FY22 at INR 1,538 Cr were lower by 4.9% Q-o-Q
· Operating Profit at INR 920 Cr up ~4x Q-o-Q
· Net Advances at INR 163,654 Cr; Total Deposits at INR 163,295 Cr; CD ratio at ~100.2% from 102.4%in Q4FY21
· Liquidity Coverage Ratio (daily average during the quarter) remains healthy at 131.8% v/s. 113.9% last quarter
· Asset quality parameters:
o GNPA of 15.60% (GNPA lower by ~INR 100 Cr Q-o-Q)
o NNPA of 5.78% (NNPA lower by ~INR 350 Cr Q-o-Q)
o NPA Provision Coverage Ratio at 79.3% 4
About Author
