The bank said its net interest income (NII) rose 19 per cent YoY to Rs 4,697 crore compared with Rs 3,942 crore in the same quarter last year. Net Interest Margin (NIM) for the quarter came in at 4.92 per cent.
Covid-related provisions stood at Rs 482 crore. In accordance with Covid Resolution Framework announced by RBI, the bank had standard restructured fund-based outstanding of Rs 379 crore accounting for 0.14 per cent of advances.
Under the MSME Resolution Framework, the bank has standard restructured fund-based outstanding of Rs 697 crore, which was 0.25 per cent of advances, as at June 30. As at June 30, gross non-performing assets stood at 2.24 per cent and net NPA at 0.62 per cent.
Credit cost on advances for Q1FY23 was 16 bps (annualised) (excluding COVID & restructuring provision/reversal). The provision coverage ratio stood at 72.6 per cent, the bank said in a BSE filing.
Customer assets, which includes advances and credit substitutes, increased 29 per cent to Rs 3,03,629 crore from Rs 2,35,340 crore as at June 30. Overall, advances jumped 29 per cent to Rs 2,80,171 crore as at June 30 from Rs 2,17,447 crore in the year-ago quarter. CASA ratio for the quarter came in at 58.1 per cent.
Average current deposits grew 19 per cent to Rs 55,081 crore for the quarter compared with Rs 46,341 crore in the year-ago quarter.
