)
The bank's net interest income was Rs 981 crore in the April-June quarter of FY16 against Rs 801 crore in the corresponding quarter of the previous financial year, showing a growth of 22 per cent. The net interest margin stood was 3.68 per cent against 3.66 per cent in the same quarter a year ago.
Romesh Sobti, managing director and chief executive officer, said: “In spite of a tough operating environment, credit offtake has increased to 23 per cent. The bank’s gross and net NPA (non-performing asset) percentage has reduced, which is testimony to the quality of the loan book.”
Gross NPA stood at 0.79 per cent for the first quarter of FY16, compared to 1.11 per cent in the corresponding quarter in FY15. The net NPA was 0.31 per cent against 0.33 per cent. The core fee income for the current quarter was Rs 599 crore against Rs 487 crore — a growth of 23 per cent.
The current accounts and savings accounts ratio was 35 per cent against 33 per cent in the year-ago quarter. Total advances as on June 30 were at Rs 72,243 crore compared with Rs 58,664 crore in the year-ago period, a growth of 23 per cent. Total deposits as on June 30, 2015 were Rs 77,693 crore against Rs 63,893 crore a year ago.
The cost to income ratio was 45.9 per cent compared to 46.2 per cent on a year-on-year basis. According to Sobti, the slippages have declined and recoveries have improved.
