On a standalone basis, the net profit of the bank was up 14.5 per cent at Rs 135.43 crore during the first quarter of FY 2021 as against Rs 118.33 crore a year ago. Income increased to Rs 6,726.68 crore from Rs 6,493.55 crore.
The bank showed improvement in its asset quality as the gross non-performing assets (NPAs) or bad loans, as a percentage of gross advances as on June 30, 2020, fell to 18.10 per cent from 19.93 per cent as on June 30, 2019.
Likewise, the net NPA ratio came down to 6.76 per cent from 7.98 per cent.
This helped the bank cut down on its provisions for bad loans and contingencies, which stood at Rs 974.64 crore for June quarter FY 2021 as against Rs 1,034.78 crore a year-earlier period.
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