Addressing a press conference in Chennai on Thursday to announce the financial results, he said the better performance has been due to the improvement in the net interest margin (NIM) to 3.58% as compared to 3.17% during the same quarter last year. The cost income ratio was lower at 42.04% as against 44.22%, he said.
The banks net interest income (NII) rose to Rs 737.68 crore as against Rs 539.53 crore, a growth of 36.73% on year-on-year basis. The fee based income registered a growth of 43.97% to Rs 350.15 crore as compared to Rs 243.21 crore during the same quarter last fiscal. The total income grew 27.82% to Rs 2,230.39 crore as compared to Rs 1,744.99 crore, he added.
The total business grew 20.63% to Rs 128,701 crore as of June 30, 2009 from Rs 106,691 crore. Of which the deposits grew 23.31% to Rs 76,717 crore while advanced witnessed a growth of Rs 16.88 crore to Rs 51,984 crore.