Q2 FY – 2022 Highlights (Y-o-Y)
- Operating Profit grew by 20.29% to Rs.249 Cr.
- Cost of Deposits (COD) at 4.30%, improved by 95 bps.
- Net NPA ratio reduced from 5.87% to 3.81%.
- Total Business grew by 15.89%, to Rs.169484 Cr.
- Total deposits grew by 20.52% & stood at Rs.101910 Cr.
- Gross Advances grew by 9.53%
.
Key Summary of Business Performance (as on 30th Sept 2021)
Profitability & Income:
- Net Profit stands at Rs.218 Cr for Q2FY22 against Net Loss of Rs.401 Cr for Q2FY21. The same is up by 25.29% on a QoQ basis.
- Operating Profit has shown a growth of 20.29% on YoY basis to Rs.249 Cr for Q2FY22 as against Rs.207 Cr for Q2FY21.
- Return on Equity improved to 16.16% in Q2 FY22 from (65.58)% in Q2 FY 21.
Asset quality:
- Gross Non-Performing Assets (GNPA) stood at Rs.9823 Cr (14.54%) as on Sept 2021 as against Rs.9055 Cr (13.33%) in June 2021. The same was at Rs.8673 Cr (14.06%) as on Sept 2020.
- Net Non-Performing Assets (NNPA) ratio reduced to 3.81% as on Sept 2021 against 5.87% as on Sept 2020. The same was 3.61% as on June 2021.
- Provision Coverage Ratio (PCR) improved further at 84.44% as on Sept 2021 as against 76.12% in Sept 2020 and 84.22% as on June 2021.
Capital Adequacy:
- Bank’s Total Capital Adequacy Ratio (CRAR) is at 17.92 % with 681 bps YoY increase. On QoQ basis, it increased by 30 bps from 17.62% as on June 2021.
Priority Sector & Financial Inclusion:
- The Bank has achieved National Goals in Priority Sector & Agriculture Credit with 47.37% and 19.43% of ANBC in Sept 2021, as against the National Goal of 40% and 18%, respectively.
- Credit to Small and Marginal Farmers stood at Rs.6996 Cr in Sept 2021 i.e. 11.07% of ANBC, which is above the regulatory target of 9%.
Assets & Liabilities:
- Total Business grew by 15.89% on YoY basis to Rs.169484 Cr as on 30.09.2021 as against Rs.146251 Cr as on 30.09.2020. The same is up by 1.85% on QoQ basis.
- Total Deposits up by 20.52% on YoY basis & 3.49% on QoQ basis to Rs.101910 Cr from Rs.84559 Cr as on 30.09.2020 & Rs.98478 Cr as on 30.06.2021.
- Gross Advances stood at Rs.67574 Cr as at Sept 2021 with growth of 9.53% (YoY).
- RAM (Retail, Agriculture & MSME) loan portfolio grew by 7.29% on YoY basis. Retail, Agriculture and MSME loan portfolio grew by 2.45%, 11.58% and 7.60% respectively.
MD & CEO of the Bank Sh. S Krishnan informed that the Bank has continued its’ good performance by registering a Net Profit of Rs.218 Cr as at 30.09.2021 against a Net loss of Rs.401 Cr as at 30.09.2020.
The Bank has registered a YoY growth of 15.89% in the Total Business. Retail, Agriculture and MSME (RAM) Credit has shown a growth of 7.29%. CASA Deposits has registered a growth of 13.09%. Priority Sector Advances & Agriculture Advances of the Bank stood at 47.37% and 19.43% respectively, exceeding the National target of 40% and 18% respectively.
Sh. S Krishnan, MD & CEO also informed that the Bank continued its special focus on NPA Recovery. During Q2 of FY 2021-22, Bank has recovered Rs.893 Cr, including recovery of Rs.60 Cr in Technically Written-Off (TWO) accounts.
The Bank has recently launched ‘PSB UnIC’ a unified digital platform, to provide a hassle-free banking experience to the customer and has also taken several IT initiatives. Bank has launched tailor made loan products, reduced retail loan interest rates at par with other peer Banks and has revamped some of the existing schemes to match with the best in the industry. Bank is embarking on a plan of rebalancing its portfolio as a result of which corporate advances has declined from 52% to 51% while RAM advances has grown from 44% to 46% on QoQ basis.
";
