Its net interest margin (NIM) in Q3 stood at 2.5% up nearly 10 bps YoY and down 10 bps QoQ. Provisions rose 45% QoQ to Rs 845 crore. While net advances rose 10.4% YoY to Rs 194,573 crore, total deposits increased 15.9% YoY to Rs 213,608 crore.
“During the quarter, the bank successfully closed two deals which are strategic and transformational in this new journey of the bank. The successful capital raise has aided in significant expansion in our capital base, and post full consummation, our CETI Ratio will reach an extremely comfortable level,”
CEO and MD Prashant Kumar said.
He said with the successful transfer of stressed assets to JC Flowers ARC, GNPA and NNPA ratios have now declined to 2% and 1%, respectively, which is the lowest since Q3 of FY19. At the same time, the operational momentum continues with further step-up in disbursements across segments and highest operating profit in the last eight quarters.
