- Deposit mobilization continues; at INR 1,35,815 Crores grew 15.7% q-o-q and 28.9% over 6 month period. CD ratio further improved to ~123%; ~1.5 Lac CASA Accounts opened during the quarter, greater than pre-COVID levels
- Full repayment of RBI special liquidity facility of INR 50,000 Crores
- Sustained momentum in Operating Profits at INR 1,360 Crores, up 18.6% q-o-q
- C/I ratio 49.3%; lowest in last 5 quarters
- Total Covid related provisioning stepped up to INR 1,918 Crores (1.15% of advances)
- Credit Rating upgrades from Moody’s, CRISIL, India Ratings and ICRA
- Continued Leadershipin Technology: UPI: #1 in P2M transactions, ~37% vol. market share, IMPS: #1 Remitter Bank*
- Launch of next generation digital products: YES ONLINE, Video KYC, Loan in Seconds, WhatsApp Banking
Financial Highlights
- Net Profit at INR 129 Crores for Q2FY21 up 2.8x q-o-q as compared to loss of INR 600 Crores in Q2FY20
- Net Interest Income at INR 1,973 Crores grew 3.4% q-o-q aided by higher NIMs at 3.1% up ~10 bps q-o-q
- Non-Interest income for Q2FY21 at INR 707 Crores, grew 13.9% q-o-q. Strong bounce back seen across transactional and granular fee streams
- Operating expenses declined 4.5% q-o-q and 21.1% y-o-y to INR 1,320 Crores
- Total step up in provisioning of ~ INR 1,600 Crores; consists of INR 1,038 Crores towards Covid19 related provisioning and balance predominantly towards Non-Performing Investments
- Net Advances at INR 1,66,923 Crores grew 1.5% q-o-q; Strong pickup in retail disbursements at INR 3,764 Crores, up from INR 424 Crores last quarter.
- Liquidity Coverage Ratio as on September 30, 2020 at 107.3%
- Capital position: CET I ratio at 13.5%, Total CRAR at 19.9%
- Asset quality parameters as of September 30, 2020:
- PCR improves to 75.7% vs. 75.1% last quarter; including technical write-offs PCR at ~80%
- GNPA of 16.9% (vs.17.3%last quarter)
- NNPA of 4.71% (vs. 4.96% last quarter).
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