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Financial Results for the Quarter/Nine months endedas on 31st December 2023

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Financial Results for the Quarter/Nine months endedas on 31st December 2023
Bank’s Global Business reached ₹11.64 lakh Cr, up by 11% YoY
• Net Profit up by 52%YoY at ₹2119Cr in Dec’23 from ₹1396 Crin Dec’22
• Profit Before Tax up by 78% YoY at ₹2747Cr in Dec’23 from ₹1546 Cr in Dec’22
• Operating Profitimproved to ₹4097Crin Dec’23 from ₹4061 Cr in Dec’22
• Net Interest Income increased by 6% YoY to ₹5815 Crin Dec’23 from₹5499 Cr in Dec’22
• Fee based income grew by 21%YoY to ₹852 Crin Dec’23
• Return on Assets (RoA)up by 31 bps to1.11% in Dec’23from0.80% in Dec’22
• Return on Equity (RoE)increased by 471 bpsto 19.92%inDec’23from 15.21% in Dec’22
• Yield on Advances (YoA)up by 59 bps to8.78%in Dec’23 from 8.19% in Dec’22
• Yield on Investments (YoI) increased by 28 bps to6.80%in Dec’23 from 6.52% in Dec’22
• Gross Advances increased by 13% YoY to ₹509800Crin Dec’23 from₹451658Crin Dec’22
• RAM (Retail, Agriculture & MSME) advances grew by 13%YoY to ₹296845Cr in Dec’23 from ₹262811Crin Dec’22
• RAM contribution to gross domestic advances is 62.58%. Retail, Agri& MSME advances grew by 14%, 16% and 7%YoY respectively. Home Loan (Including mortgage)grew by 12% YoY, Auto Loan by 46% YoYand Personal Loan by 30% YoY
• Priority Sector portfolio stood at ₹171480Crin Dec’23. Priority sector advances as a percentage of ANBC stood at 43.71% as against the regulatory requirement of 40%.
• Total Deposits increased by 10% YoY and reached to ₹654154Crin Dec’23. CASA deposit grew by 8%, savings deposit grew by 7% and Current deposit by 12% YoY
• Domestic CASA ratio stood at 41.14%
• GNPA decreased by 206 bps YoY to 4.47%in Dec’23from 6.53%,NNPA reduced by 47 bps to 0.53% from 1.0% in Dec’22
• Provision Coverage Ratio (PCR, including TWO) improved by 231 bpsYoY to 95.90%
• Capital Adequacy Ratiostood at 15.58%. CET-I improved by 39bps YoY to 12.36%
Tier I Capital improved by 30bps YoY to 12.88%
• Net Profitup by 7%QoQto₹2119Crin Dec’23 from ₹1988Cr in Sep’23
• Net Interest Incomestood at₹5815Crin Dec’23as against₹5741Cr in Sep’23
• Return on Assets (RoA) improved to 1.11% in Dec’23from 1.06% in Sep’23
• Return on Equity (RoE)improvedto 19.92% in Dec’23 from 19.90% in Sep’23
• Yield on Advances (YoA)improved to8.78%from 8.75% in Sep’23 and Yield on Investments (YoI)improved to 6.80% in Dec’23 from 6.77% in Sep’23
• Domestic Net Interest Margin (NIM)stood at3.49% in Dec’23
• Cost-to-Income Ratio stood at 46.90% in Dec’23
• Slippage Ratio contained to 1.28% in Dec’23 in comparison to 1.77% in Sep’23 i.e improvement of49 bps
• Net Profit up by 52% YoY to ₹5816Cr in9MFY24from ₹3834Crin 9MFY23
• Profit Before Tax up by 77% YoY at ₹7894Cr in 9MFY24 from ₹4461Cr in 9MFY23
• Operating Profitincreased by 11% at ₹12535Crin 9MFY24from ₹11255Crin 9MFY23
• Net Interest Income grew by 17% to ₹17258Cr in9MFY24from ₹14717Cr in 9MFY23
• Return on Assets (RoA) increased by 29 bps to1.04% in9MFY24from 0.75%in9MFY23
• Return on Equity (RoE)up by483 bps to19.25% in9MFY24 from14.42% in 9MFY23
• Domestic Net Interest Margin (NIM) increased by 19bps to 3.54%in9MFY24from3.35% in 9MFY23
• Yield on Advances (YoA)up by 109 bps to8.69%in9MFY24from 7.60% in 9MFY23
• Yield on Investments (YoI) increased by 38 bps to6.77%in9MFY24from 6.39% in 9MFY23

• The Bank has 5835domestic branches (including 3 DBUs), out of which 1981 are Rural, 1527are Semi-Urban, 1173are Urban &1154 are in Metro category. The Bank has3 overseas branches&1 IBU.
• The Bank has 4899ATMs & BNAs and 10942number of BCs.

Digital Banking:
• Business through Digital Channels crossed ₹52,000 Cr. So far 78 Digital Journeys have been launched. More Journeys will be launched in the months to come.
• Mobile Banking users increased by 47% YoYand reached to 1.59 Cr.
• UPI users and Net Banking Users both, increased by 38% YoY each, and reached to 1.64 Cr and 1.03 Cr respectively.
• Number of UPI QR merchants on-boarded surged by 311% YoY and reached to 36 lakh, and number of PoS increased by 47% YoY to 21725.
• ‘Online Tax Portal for Village Panchayats’- launched for collection of taxes in all Village Panchayats in Tamil Nadu.

Awards & Accolades:
• Bank was adjudged the Most Preferred Workplace in BSFI sector for 2023-24 by Marksmen Daily.
• Bank was awarded Fastest Growing Public Sector Bank by Dalal Street Investment Journal (DSIJ)in 2023 Banking award.
• Bank was conferred BFSI Award for Use of Emerging Technology in Banking Industry for Project “PARADISE” for Adoption of Cloud Computing for AiX Environmentby GOVERNANCE NOW.
• Chief Technology Officer of the Bank was awarded BFSI Award for the Best Digital Transformation Leader, CTO for the year 2023.

Our Focus
Bank’s unwavering focus revolves around understanding and meeting the unique needs of the diverse customer base. With a commitment to excellence, we strive to provide seamless financial services that cater to the dynamic requirements of individuals and businesses across the nation.
The Bank is strategically channelising its efforts toward optimizing the mobilization of CASA deposits, with a firm commitment to delivering unparalleled customer services that impeccably address the diverse needs of our valued depositors.

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