Q2FY23 RESULTS
| Highlights
Profitability · Highest ever quarterly Net Profit at Rs. 13,265 crores; grew by 73.93% YoY. · Operating Profit for Q2FY23 at Rs. 21,120 crores; grew by 16.82% YoY. · ROA at 1.04% for the quarter improved by 38 bps YoY. · Bank’s ROA and ROE for the half year stand at 0.76% and 16.08% respectively. · Net Interest Income (NII) for Q2FY23 increased by 12.83% YoY. · Domestic NIM for Q2FY23 increased by 5 bps YoY to 3.55%.
Balance Sheet · Credit growth at 19.93% YoY with Domestic Advances growing by 18.15% YoY. · Foreign Offices’ Advances grew by 30.14% YoY. · Domestic Advances growth driven by Corporate Advances (21.18% YoY) followed by Retail Personal Advances which grew by 18.84% YoY. · REH Advances cross Rs. 6 lakh crores. · SME and Agri loans have registered YoY growth of 13.24% and 11.00% respectively. · Whole Bank Deposits grew at 9.99% YoY, out of which CASA Deposit grew by 5.35% YoY. CASA ratio stands at 44.63% as on 30th September 22. Asset Quality · Net NPA ratio falls below 1%, stands at 0.80% down by 72 bps YoY. · Gross NPA ratio at 3.52% down by 138 bps YoY. · Provision Coverage Ratio (PCR) at 77.93% improved by 788 bps YoY, PCR (Incl. AUCA) stands at 91.54%. · Slippage Ratio for Q2FY23 at 0.33% improved by 33 bps YoY. · Credit Cost for Q2FY23 at 0.28%; improved by 15 bps YoY.
Capital Adequacy · Capital Adequacy Ratio (CAR) as at the end of Q2FY23 stands at 13.51%.
Alternate Channels · 62% of SB accounts and 45% of retail asset accounts acquired digitally through YONO. · Share of Alternate Channels in total transactions increased from 95.1% in H1FY22 to 96.8% in H1FY23. |
Key Summary of Q2FY23 Results
| In Rs Crores | Q2FY22 | Q1FY23 | Q2FY23 | YoY % | QoQ % | H1FY22 | H1FY23 | YoY % |
| Profit & Loss | ||||||||
| Interest Income | 69,481 | 72,676 | 79,860 | 14.94 | 9.88 | 1,35,046 | 1,52,536 | 12.95 |
| Interest Expenses | 38,298 | 41,480 | 44,676 | 16.66 | 7.70 | 76,224 | 86,157 | 13.03 |
| Net Interest Income | 31,184 | 31,196 | 35,183 | 12.83 | 12.78 | 58,822 | 66,379 | 12.85 |
| NIM, % (Domestic) | 3.50 | 3.23 | 3.55 | 5 bps | 32 bps | 3.33 | 3.39 | 6 bps |
| Operating Profit | 18,079 | 12,753 | 21,120 | 16.82 | 65.61 | 37,054 | 33,873 | -8.59 |
| Loan loss provisions | 2,699 | 4,268 | 2,011 | -25.50 | -52.89 | 7,729 | 6,279 | -18.76 |
| Profit after tax | 7,627 | 6,068 | 13,265 | 73.93 | 118.59 | 14,131 | 19,333 | 36.81 |
| In Rs Crores | Sep 21 | Jun 22 | Sep 22 | YoY % | QoQ % |
| Balance Sheet | |||||
| Gross advances | 25,30,777 | 29,00,636 | 30,35,071 | 19.93 | 4.63 |
| Domestic Corporate | 7,56,764 | 8,74,014 | 9,17,016 | 21.18 | 4.92 |
| Domestic Retail Personal | 9,04,473 | 10,34,111 | 10,74,853 | 18.84 | 3.94 |
| Of which: Home loans | 5,18,703 | 5,75,075 | 5,94,292 | 14.57 | 3.34 |
| Deposits | 38,09,630 | 40,45,696 | 41,90,255 | 9.99 | 3.57 |
| Domestic CASA | 17,06,387 | 17,67,666 | 17,97,752 | 5.35 | 1.70 |
| Domestic Term Deposits | 19,83,642 | 21,32,185 | 22,30,260 | 12.43 | 4.60 |
| CASA Ratio (%) | 46.24 | 45.33 | 44.63 | -161 bps | -70 bps |
| GNPA | 1,23,942 | 1,13,272 | 1,06,804 | -13.83 | -5.71 |
| NNPA | 37,119 | 28,258 | 23,572 | -36.49 | -16.58 |
| Ratios, % | Q2FY22 | Q1FY23 | Q2FY23 | YoY, bps | QoQ, bps | H1FY22 | H1FY23 | YoY, bps |
| Asset Quality | ||||||||
| GNPA | 4.90 | 3.91 | 3.52 | -138 | -39 | 4.90 | 3.52 | -138 |
| NNPA | 1.52 | 1.00 | 0.80 | -72 | -20 | 1.52 | 0.80 | -72 |
| PCR (with AUCA) | 87.68 | 90.14 | 91.54 | 386 | 140 | 87.68 | 91.54 | 386 |
| PCR (without AUCA) | 70.05 | 75.05 | 77.93 | 788 | 288 | 70.05 | 77.93 | 788 |
| Slippage Ratio | 0.66 | 1.38 | 0.33 | -33 | -105 | 1.56 | 0.86 | -70 |
| Credit Cost | 0.43 | 0.61 | 0.28 | -15 | -33 | 0.61 | 0.45 | -16 |
| Capital Ratios | ||||||||
| CET-1 ratio | 9.76 | 9.72 | 9.53 | -23 | -19 | 9.76 | 9.53 | -23 |
| Tier-1 ratio | 11.02 | 11.15 | 11.12 | 10 | -3 | 11.02 | 11.12 | 10 |
| CAR | 13.35 | 13.43 | 13.51 | 16 | 8 | 13.35 | 13.51 | 16 |
