Net Interest Income (NII) in the reporting quarter rose by 16 per cent at Rs 9,912 crore from Rs 8,545 crore in December 2019. Net Interest Margin for the reporting quarter declined to 3.67 per cent from 3.77 per cent in the year-ago quarter.
Non-interest income, excluding treasury income, declined to Rs 3,921 crore in the reporting quarter from Rs 4,043 crore in the same period last year.
The provisions and contingencies were up at Rs 2,741.7 crore in the third quarter from Rs 2,083 crore in the corresponding quarter last year.
Following an order by the Supreme Court, no new non-performing assets (NPAs) were recognised since September 1 of last year. If such NPAs were recognised, the pro forma gross NPAs were 5.42 per cent and Net NPAs were 1.26 per cent. The resultant pro forma provision coverage ratio (PCR) was 77.6 per cent.
The restructuring pursuant to RBI resolution framework stood at Rs 2,546 crore (0.4 per cent of advances) at December 31, 2020. This is less than the earlier guidance of one per cent of loan book as corporate India and the broader economy seem to be doing better than anticipated, the bank said in a media call after announcing the results.
The bank's deposits grew by 22 per cent in 12 months to Rs 874,348 crore at the end of December 2020. The advances expanded by 10 per cent to Rs 6,99,017 crore at the end of the third quarter.
The Capital Adequacy Ratio (CAR) was at 19.51 per cent with tier I of 18.12 per cent at end of December 2020. This includes profits for the nine months ended December 31, 2020.
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