· Bank has delivered a strong performance in Q1FY21 with all round improvement in Profitability, Capital Adequacy and Provision Coverage Ratio, including Additional Provision over Minimum Regulatory Provisions required.
· Bank registered a Net Profit of Rs. 4,189 Crores in Q1FY21, an increase of 81% over Q1FY20.
· Operating Profit increased to Rs. 18,061 Crores in Q1FY21 from Rs. 13,246 Crores in Q1FY20, an increase of 36.35% YoY.
· Net Interest Income of the Bank grew by 16.14% YoY during Q1FY21.
· Domestic Net Interest Margin (NIM) improved to 3.24% in Q1FY21, registering an increase of 23 bps YoY.
· Non-Interest Income for Q1FY20 at Rs. 9,497 Cr is up by 18.49% YoY.
· Total Deposits grew at 15.96% YoY, out of which Current Account Deposit grew by 12.98% YoY, while Saving Bank Deposits grew by 17.29% YoY.
· Credit Growth stood at 6.58% YoY, mainly driven by Retail (Personal) Advances (12.85% YoY) and Foreign Office Advances (11.19% YoY).
· Home loan, which constitutes 22% of Bank’s domestic advances, has grown by 10.72% YoY.
· Net NPA ratio at 1.86% is down 121 bps YoY and 37 bps QoQ. Gross NPA ratio at 5.44% is down 209 bps YoY and 71 bps QoQ.
· Provision Coverage Ratio (PCR) has improved to 86.32%, up 698 bps YoY and 270 bps QoQ.
· Slippages Ratio for Q1FY21 has declined to 0.60% from 2.83% as at the end of Q1FY20.
· Credit Cost as at the end of Q1FY21 has declined 47 bps YoY to 1.56%.
· Cost to Income Ratio has improved from 57.21% in Q1FY20 to 50.02% in Q1FY21, an improvement of 719 bps.
· Capital Adequacy Ratio (CAR) has improved by 51 bps YoY to 13.40% as on June 2020.
· Return on Assets (RoA) increased by 17 bps YoY to 0.42% in Q1FY21 against 0.25% in Q1FY20.
· Share of Alternate Channels in total transactions has increased from 90% in Q1FY20 to 93% in Q1FY21.
Key Summary of Q1FY21 Results
|In Rs Crore||Q1FY20||Q4FY20||Q1FY21||YoY %||QoQ %|
|Profit & Loss|
|Net Interest Income||22,939||22,767||26,642||16.14||17.02|
|NIM, % (Domestic)||3.01||2.94||3.24||23 bps||30 bps|
|Loan loss provisions||11,648||11,894||9,420||-19.13||-20.79|
|Profit after tax||2,312||3,581||4,189||81.18||16.99|
|In Rs Crore||Jun 19||Mar 20||Jun 20||YoY %||QoQ %|
|Domestic Retail PER||6,63,559||7,47,589||7,48,800||12.85||0.16|
|Of which: Home loans||4,11,360||4,55,865||4,55,443||10.72||-0.09|
|Domestic Term Deposits||15,66,228||17,13,635||18,06,840||15.36||5.44|
|CASA Ratio (%)||45.06||45.16||45.34||28 bps||18 bps|
|Slippages (During the Quarter)||16,212||8,105||3,637||-77.57||-55.13|
|Ratios, %||Q1FY20||Q4FY20||Q1FY21||YoY, bps||QoQ, bps|
|PCR (with AUCA)||79.34||83.62||86.32||698||270|
|PCR (without AUCA)||61.05||65.21||67.07||602||186|