The reported gross non-performing assets (NPAs) of the company stand at 1.61 per cent in Q3FY21, compared to 2.47 per cent in Q3FY20 and net NPAs
stood at 0.56 per cent versus 0.83 per cent. However, the proforma NPAs
of the lender would have been as high as 4.51 per cent, if not for the Supreme Court’s interim order on standstill in asset classification of lenders. But, if compared to the September quarter, proforma gross NPAs
has come down. In September quarter, proforma gross NPA was 7.46 per cent of advances.
On the positive side, new account sourcing has surpassed Q4FY20 levels. In Q3FY21, the company sourced 918,000 new accounts, compared to 688,000 in Q2FY21, and 851,000 in Q4FY20. Similarly retail spends has crossed pre-covid levels and so has corporate spends.
Spends witnessed an almost 8 per cent rise to Rs 37,797 crore in Q3FY21, compared to Rs 35,135 core in Q3FY20. However, average spend per card declined YoY in Q3FY21. Receivables for the company has gone up 4 per cent YoY in Q3FY21 but receivable per card has declined, although it has improved from the preceding quarter. Card in force for the company grew 15 per cent in Q3FY21 to 1.15 crore, compared to one crore cards in Q3FY20.
It has a healthy capital adequacy ratio of 23.7 per cent at the end of December quarter, with tier I capital at 19.8 per cent.