Key Highlights of the Results -Q1FY-25
Staff Reporter : kolkata, 22nd 2024. Business Growth -Total Business grew by 11.46% to Rs.461408 crore on y-o-y, wherein Gross Advances increased by 17.64% to Rs. 193253crore on y-o-y & Total Deposits grown by 7.39% on y-o-y to Rs.268155 crore.
Improved Profitability & Return – Net profit for the quarter ending 30.06.2024 stood at Rs.551 crore as against Rs.223 crore for the same period of preceding year, registering a growth of 147.09% y-oy. Operating Profit for the quarter ended 30.06.2024 stood at Rs.1321 crore showing an increase of 9.81% on y-o-y basis.
 Advances in Retail, Agriculture & MSME (RAM) Sectors – RAM segment of the Bank increasedby 18.65% to Rs.101986crore on y-o-y backed by 21.84% y-o-y growth in Retailadvances ,19.64%y-o-y growthin Agriculture advances and 14.04% y-o-y growth in MSME advances.
 Reduction in NPA -Gross NPA reduced by 116 bps y-oy to 3.32%as on 30.06.2024 whereas Net NPA reduced by 40 bps y-oy to 0.78% as on 30.06.2024.
 Strong Capital Adequacy Ratio – Capital Adequacy Ratio (CRAR) improved by 24 bpsy-o-y to 17.09% as on 30.06.2024 wherein Tier I Capital Ratio improved by 59 bps y-o-y to 14.75% as on 30.06.2024.
 Credit to Deposit Ratioregistered an improvement of 636 bps to 72.07% on y-o-y basis.
Business Highlights
 Total Business grew by 11.46%on y-o-yto Rs.461408crore as on 30.06.2024 from Rs.413972 crore as on 30.06.2023.
 Total Deposits increased by 7.39%on y-o-ybasis to Rs.268155 crore as on 30.06.2024from Rs.249694 crore as on 30.06.2023.
 Gross Advances grew 17.64 % on y-o-y to Rs.193253crore as on 30.06.2024as against Rs.164278 crore as on 30.06.2023.
 RAM (Retail, Agri & MSME) business stood at Rs.101986 crore as on 30.06.2024as against Rs.85952 crore as on 30.06.2023, registering an improvement of 18.65% on y-o-y basis.
 Retail Advances stood at Rs.42985 crore as on 30.06.2024 as against Rs.35280 crore as on 30.06.2023registering a growthof21.84%on y-o-y basis,fuelled by Home loan and Vehicle loan portfolio which registered a growth of 20.37% and 33.33% respectivelyon y-o-y basis.
 Agriculture Advances stood at Rs.25950crore as on 30.06.2024 as against Rs.21690 crore as on 30.06.2023, showing a growth of 19.64%on y-o-y basis.
 Advances to MSME sector stood at Rs.33051 crore as on 30.06.2024 as against Rs.28982 crore as on 30.06.2023, registered a growthof14.04%on y-o-y basis.
 Business per employee improved to Rs.21.65 crore during Q1FY25 as against Rs.18.89crore for the same period of preceding year.
 Operating Profit for the quarter ended 30.06.2024 stood at Rs.1321 crore registering a growth of9.81% on y-o-ybasis as against Rs.1203 crore for the same period of preceding year.
 Net Profit for the quarter ended 30.06.2024 stood at Rs.551 crore as against Rs.223 crore for the same period in the preceding year, registering a growth of 147.09% y-oy.
 Net Interest Income (NII) for the quarter ended 30.06.2024stood at Rs.2254 crore registering a growth of 12.20% on y-o-y basis as against Rs.2009 crore for the same period of preceding year.
Asset Quality
 Gross NPA improved to 3.32 % as on 30.06.2024 as against 4.48% as on 30.06.2023, registering an improvement of 116 bps.
 Net NPA improved to 0.78 % as on 30.06.2024as against 1.18% as on 30.06.2023, registering an improvement of 40 bps.
 Provision Coverage Ratio improved to95.76% as on 30.06.2024 as against94.88% as on 30.06.2023, registering an improvement of 88 bps.
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Capital Adequacy
 Capital Adequacy Ratio (CRAR) improved to 17.09 % as on 30.06.2024 as compared to 16.85% on 30.06.2023, with Tier 1 ratio of 14.75% as on 30.06.2024 as against 14.16% as on 30.06.2023, thereby registering an improvement of 24bps and 59bps in CRAR and Tier 1 respectively.
Branch Network
 Bank hasa network of 3230 domestic branches and 2 overseas branches each at Hongkong and SingaporeCentre& 1 Representative office in Iran. Out of the total branches, Bank has 61.73 % i.e.1994branches in rural & semi-urban areas. Bank has2477ATMs and 9885BC Points making the total number of 15595 touch points as on30thJune 2024.
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