MUMBAI:
of the first quarter (Q1 FY 2020).
Q1 FY 2020 Highlights:
a) The Bank’s Profit After Tax was at INR 81 Cr. in Q1 FY 2020 as against INR 70 Cr. in Q1 FY 2019.
b) Profit Before Tax was at INR 126 Cr. in Q1FY 2020 a stable growth as against INR 108 Cr. in Q1FY 2019.
c) Operating Profit of INR 167 Cr. over INR 141 Cr. for the same period as compared to last year.
d) The Bank earned Net Interest Income of INR 305 Cr. as against INR 273 Cr. for the same period as compared to last year.
e) Non-Interest Income of INR 87 Cr. against INR 83 Cr. for the same period as compared to last year.
f) As compared to Q1 FY 2019, Cost Income Ratio has improved from 60.25% to 57.46% (by 2.79%).
g) Return on Equity (Annualised) was at 11.17% in Q1 FY 2020 as compared to 10.75% in Q1 FY 2019.
h) Net Advances (excluding Corporate Banking) grew to INR 21,006 Cr. as on June 30, 2019 from INR 17,663 Cr. as on June 30, 2018 a growth rate of 19%.
i) Net Advances (including Corporate Banking) grew to INR 24,044 Cr. as on June 30, 2019 from INR 21,243 Cr. as on June 30, 2018 a growth rate of 13%.
j) As on June 30, 2019, the Bank grew Deposits by 15% to INR 28,789 Cr. Customer Term Deposits grew by 31% and Customer Deposits grew by 26%.
k) Total Deposit from top 20 depositors reduced to 12.01% as at March 31, 2019 from 14.87% as at March 31, 2018. This ratio has further reduced to 10.13% as at June 30, 2019.
l) CASA ratio stood at 24.53% as on June 30, 2019 as against 24.63% as on June 30, 2018, with Savings Accounts year on year growth rate of 16%.
m) Net Interest Margin for Q1 FY 2020 stands at 3.67% as against 3.90% for Q1 FY 2019. NIM was lower partially on account of higher cost of long term refinance options.
n) Gross NPA ratio stood at 1.96% as on June 30, 2019 as compared to 1.86% as on June 30, 2018.
o) Net NPA ratio remained at 0.81% as on June 30, 2019 as compared to 0.72% as on June 30, 2018.
p) Capital Adequacy Ratio (CAR) was at 16.06% as on June 30, 2019 with Tier I at 12.51% and Tier II at 3.55% as per Basel III norms.
q) As of June 30, 2019 the Net Restructured Standard Advances was approximately INR 38 Cr.
r) The Bank’s branch network increased to 334 branches as on June 30, 2019.
Speaking on the Q1 FY 2020 results Murali M. Natrajan, Managing Director & CEO said, “We are focusing on granular retail term deposits in order to further improve our deposit profile. Some margin pressure will be felt for two more quarters beyond which we expect stability due to the repricing profile of long term refinance and renewal cycle of customer deposits.”
