Compared to the previous year, the bank’s total business grew by 7.10%, reaching Rs. 2,08,331 crore. Total deposits increased by 5.59%, with retail term deposits showing a notable rise of 10.15%. Total advances rose by 9.24%, and advances in RAM (Retail, Agriculture, and MSME) grew robustly by 15.69%. Retail advances increased by 22.99%, and MSME advances went up by 13.63%. The proportion of RAM advances to gross advances improved by 292 basis points, from 49.57% to 52.49%. Operating profit climbed by 23.35%, and net profit rose by 18.95%. The gross NPA ratio improved by 208 basis points, and the net NPA ratio improved by 36 basis points. The bank’s CD ratio increased by 244 basis points, from 70.32% to 72.76%.
On a quarter-on-quarter basis, net profit grew by 30.94%. Net interest income increased by 23.37%, and the yield on investment improved by 23 basis points. The bank’s net interest margin increased by 37 basis points, and the return on average assets improved by 12 basis points. The CRAR (Capital to Risk-Weighted Assets Ratio) rose by 14 basis points, from 17.16% to 17.30%.
In Q1 FY 2024-25, the bank achieved several major milestones, including signing a Memorandum of Understanding with the Indian Army to offer a top-tier salary package for serving personnel and pensioners. It also partnered with Maruti Suzuki India Ltd. to provide car loans through their digital platform and collaborated with M/s FISDOM to offer stock and mutual fund investments for customer wealth building. Additionally, the bank opened a model branch at Safdarjung Enclave, New Delhi, to appeal to new generation customers and launched a mobile ATM.
