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The bank had made provision of Rs 744 crore up to March 31 towards arrears for wage revision. No fresh provisions were made against Rs 96 crore in the year-ago quarter. The total provisions were down 1.12 per cent to Rs 1,095 crore, compared to Rs 1,107 crore.
The lender’s total expense was down 3.35 per cent to Rs 4,154 crore in the June quarter, compared to Rs 4,298 crore a year ago.
The net interest income of the bank went down by 1.40 per cent to Rs 1,587 crore in the quarter ended June 2015, against Rs 1,610 crore in the same period last year. The total interest income of the bank was down by 2.60 per cent in the last quarter at Rs 4,918 crore, against Rs 5,049 crore in the first quarter of FY14.
In the last quarter, the bank sold NPA worth Rs 569 crore to asset reconstruction companies. The bank's gross NPA stood at 5.29 per cent in the quarter ended June 2015, against 5.48 per cent in the quarter ended June 2014. The net NPA of the bank stood at 3.67 per cent at the end of June 2015, against 3.88 per cent at the end of June 2014.
Net NPA in the last quarter stood at Rs 5421 crore, against Rs 5272 crore at in the quarter ended June 2014.
The bank's net interest margin at the end of June 2015 stood at 2.91 per cent, against 3.25 per cent at the end of June 2014.
The non-interest income saw a growth of 2.03 per cent in the first quarter of FY15 at Rs 478 crore, against Rs 469 crore in the first quarter of FY14.
The total advances of the of the bank increased by 8.68 per cent to Rs 1,51,027 crore, while the deposits grew by 0.14 per cent to Rs 1,83,521 crore.
The bank's provision coverage ratio stood at 54.32 per cent at the end of June 2015, against 50 per cent at the end of June 2014.
