The total earnings of the bank in Q2 rose to Rs 617.84 crore, up from Rs 536.76 crore in the year-ago period. Provisions and contingencies were trimmed to Rs 50.89 crore in the second quarter over Rs 74.63 crore in the previous fiscal. The net non-performing assets (NPAs) came down to 2.78% from 3.77% a year ago. Gross NPAs reduced to 3.72% from 5.22%.
Banks MD & CEO Rakesh Sharma said the asset quality has improved by reducing the gross NPA by 150 bps. The net NPA too had come down by 99 bps on year-on-year basis.
The Casa portfolio of the bank has grown 27.75% to Rs 3,027.97 crore from Rs 2,373.64 crore. Total deposits rose to Rs 19,314.88 crore from Rs 16,455.45 crore, registering a growth of 17.38%. Credit portfolio expanded to Rs 13,724.32 crore from Rs 12,332.77 crore, logging a 11.28% growth. Total business mix improved to Rs 33,039.20 crore from Rs 28,788.22 crore, registering a growth of 14.77%. Net interest income of the bank recorded a growth of 12.67% as it improved to Rs 134.08 crore from Rs 119 crore.