Q4FY21 Highlights:
- Key Highlights for Q4FY21:
- Advances:
o Advances as of Q4FY21 was at Rs. 17,925 Cr, Advances growth of 17% YoY
o Disbursed Rs. 2,535 Cr in Q4FY21
o 81.37% of advances is secured loans
o New Product – Used Car Advances cross Rs. 120 Cr
o Collection & Billing efficiency for the month of March 2021 at 108.51% and 91.12% respectively
o Collection efficiency nears pre-covid levels:
- MFI X Bucket Collection efficiency for the month of March 2021, December 2020 & Feb 2020 at 98.70%, 98.30% & 98.50% respectively
- SBL X Bucket Collection efficiency for the month of March 2021, December 2020 & Feb 2020 at 99.60%, 99.05% & 99.41% respectively
- VF X Bucket Collection efficiency for the month of March 2021, December 2020 & Feb 2020 at 98.85%, 95.72% & 96.50% respectively
*Management Overlay Provision – Provision carried in excess of the regulatory requirement
- Liabilities:
o Deposits excluding CD at Rs. 16,319 Cr, growth of 58% YoY and 4% QoQ
o Retail TD at Rs. 5,869 Cr, growth of 54% YoY and 7% QoQ
o Savings Account deposits at Rs. 5,094 Cr, growth of 174% YoY and 45% QoQ
o CASA stood at Rs. 5,614 Cr, CASA is 34% of Total Deposits
- Digital 2.0:
Neobanking:
o Tied-up with NiyoX in March 2021 to offer 2 in 1 wealth + Savings account. An industry first for offering Savings + Investment on a single platform. Opened 27,000+ accounts since launch in March 2021
o Partnered with Groww for online FD opening. Pilot program in progress
Digital Payments & Acquisitions:
o FASTag – 78,000+ FASTags issued in Q4FY21, 1.3 Bn+ transaction throughput. Multiple toll plazas and parking terminals being acquired
o Micro ATM Services – 37 Bn+ transaction throughput, 10 Mn+ transactions processed
o UPI QR Acquiring – 92 Mn+ transaction throughput, 100,000+ transactions
o POS Acquiring – 3.4 Bn+ transaction throughput, 680,000+ transactions
Digital Transaction Banking:
o Corporate Payment Services – 6.6 Bn+ transaction throughput, 2 lacs+ transactions processed
o Aadhaar Enrolment & eKYC – 60,000+ enrolments across 75 branches, ~300,000 successful Authentication and eKYC transactions
o Video Banking – 9 Services Live, Same services to be exposed to Neo banking partners
Prepaid Engagements:
o Prepaid Gift Cards – Crossed 100 Mn+ transaction throughput
o Launched Prepaid Cards for Cooperative Societies
o Partnered with Fintechs for cashless campus programs
- Key Ratios:
o Cost to Income at 58.10%^ as compared to 56.35% in Q3FY21 and 62.14% in Q4FY20
o RoA and RoE for Q4FY21 at 1.80% and 13.52% respectively
^ Income considering net-off of switching fees & prepaid card expense
- Capital:
o As of March 31, 2021 Total CRAR at 24.18%, Tier-I CRAR of 23.23% and Tier II CRAR at 0.95%
- Treasury & Liquidity:
o The Bank’s Certificate of Deposit (CD) programme for Rs. 1,000 Cr has highest rating from at CRISIL A1+
o The Bank has adequate room available to avail refinance or raise funds through IBPC (with mix of PSL / Non-PSL) whenever required which provides strong cushion to ALM position of the Bank.
o The Bank currently maintains ‘surplus’ liquidity in the form of High Quality Liquid Assets (HQLA)
o During the quarter, Bank sold PSLCs worth Rs, 3,000 Cr
o Income booked on sale of PSLCs for this quarter amounted to Rs. 44.6 Cr which includes Rs. 5.8 Cr received in Q3FY21
o During the quarter, the Bank participated in equity primary market. Profits realised in those equity IPOs amounted to Rs. 2 Cr
- Profit & Loss:
o Net Interest Income for Q4FY21 at Rs. 449 Cr as against Rs. 424 Cr in Q4FY20. NIM at 7.57%
o Core Income (Net Income other than PSL Fees, Treasury & Others) at 84%
o PBT before provisions and write off for Q4FY21 at Rs. 250 Cr as against Rs. 188 Cr in Q4FY20, growth of 33%
o PAT for Q4FY21 at Rs. 113 cr as against Rs. 43 Cr in Q4FY20, growth of 162%
- Asset Quality, Provisions & Restructuring:
- During the quarter the Bank has written off of Rs. 171 Cr in the Micro Finance portfolio
- Loan loss and provision for FY21 was Rs. 375 Cr as against Rs. 247 Cr in FY20. The Bank holds a management overlay provision* of Rs. 153 Cr crore as of 31st March 2021
- GNPA at 3.59% in Q4FY21 as compared to 4.16% (proforma approach) in Q3FY21 and 2.72% in Q4FY20
- NNPA at 1.52% in Q4FY21 as compared to 1.71% (proforma approach) in Q3FY21 and 1.67% in Q4FY20
- Credit Cost for FY21 at 2.26%
- Provision coverage ratio at 58.59%
- Bank holds cumulative provision (standard asset + floating + provision for NPA) of 2.56% of advances
*Management Overlay Provision – Provision carried in excess of the regulatory requirement
- Collection & Billing Efficiency Product Wise:
| Particulars | Collection EfficiencyDecember 2020 | BillingEfficiencyDecember 2020 | Collection EfficiencyMarch 2021 | BillingEfficiencyMarch 2021 |
| Micro Finance | 97.98% | 91.29% | 93.44% | 91.90% |
| Small Business Loans | 104.56% | 90.56% | 106.56% | 91.48% |
| Vehicle Finance | 108.39% | 82.25% | 113.84% | 87.74% |
| MSE Finance | 192.55% | 88.88% | 180.26% | 89.04% |
| Corporate | 149.36% | 94.51% | 174.91% | 99.91% |
| Total | 105.36% | 88.73% | 108.51% | 91.12% |
- Collection efficiency represents total collections during the month as a percentage of March months total EMIs due
- Billing efficiency represents only the EMIs of March alone collected as a percentage of March months total EMIs due. The March month total EMIs includes EMIs of accounts which are in NPA also and not just standard assets
Collections touch pre-Covid levels
| Particulars | X Bucket Collection EfficiencyMarch 2021 | X Bucket Collection EfficiencyDecember 2020 | X Bucket Collection EfficiencyFeb 2020 |
| Small Business Loans | 99.60% | 99.05% | 99.41% |
| Vehicle Finance | 98.85% | 95.72% | 96.50% |
| Micro Finance | 98.70% | 98.30% | 98.50% |
