Total business stood at Rs 33,251 crore as against Rs 25,813 crore for the corresponding previous period, thus recording 28.8 per cent increase.
Credit deposit ratio was 54.2 per cent as against 50.3 per cent for the corresponding previous period.
Cost of deposits has come down from 6.3 per cent to 4.8 per cent. Cost of funds has come down from 5.7 per cent to 4.3 per cent.
The capital adequacy ratio improved from 12.9 per cent to 14.5 per cent and is well above the RBI stipulation of nine per cent.
Net interest income has improved by 39 per cent from Rs 168.2 crore to Rs 233.7 crore. Operating profit excluding treasury profit has gone up by 65.3 per cent from Rs 95.3 crore to Rs 157.5 crore.
Average interest spread has gone up from 3.4 per cent to 3.8 per cent as on June 30, 2004.
The bank had a strategy to focus on core and retail segments and shed the volatile bulk term deposits. Total deposits grew by 25.6 per cent (YoY) from Rs 17,169 crore to Rs 21,563 crore. The credit expansion during the period was substantially higher.
Total disbursements under retail lending schemes amounted to Rs 526.5 crore compared to Rs 494.7 crore in the corresponding quarter of the previous financial year.
Retail lending outlets are functioning at 84 centres. Retail lending constitutes 36.6 per cent of gross credit with an outstanding figure of Rs 4273 crore.
Priority sector credit constituted 44.6 per cent of net credit. The bank aims to achieve total business levels of Rs 42,000 crore comprising Rs 26,300 crore of deposits and Rs 15,700 crore of advances by March, 2005.
The focus during 2004-05 would be to concentrate on expanding the clientele base, with thrust on mobilising low cost resources and expand retail credit, said a release.