08.08.2016
Dear Customer,
We are glad to inform you of your Bank posting sound results in First Quarter OF 2016-17 in a challenging environment . The highlights are as follows:
Profitability:
- Net Interest Income (NII) was at Rs.1236.32 crores for the QE June 30, 2016 recording a growth of 10.35% over QE June 30,2015 (Rs.1120.35 crores ) and 8.96% over QE March 31, 2016 (Rs.1134.65 Crores)
- Operating Profit at Rs.903.18 crores increased by 9.16% over March Quarter (Rs.827.41 crores) and by 27.45% over June 2015 quarter (Rs.708.64 crores)
- Net Profit for the Quarter at 307.36 crores grew by 42.77% over the corresponding quarter of June 2015 (Rs.215.28 crores) and by 263.78% (Rs.84.89) over March the quarter ended March 2016.
- Net Interest Margin (NIM) improved to 2.47% for June 2016 Quarter from 2.36% for the corresponding quarter of June 2015 and 2.38% for the Quarter ended March 2016
- Return on Average Assets (RoA) improved to 0.60% for the Quarter ended June 2016 compared with 0.43% for Quarter ended June 2015 and 0.17% for March 2016 Quarter.
- Other Income of the Bank touched Rs.441.67 crores for the QE June 30,2016 registering a growth of 17.60% over QE June 30, 2015 (Rs.375.56 crore)
- Bank's Book Value per Share stood at Rs.287.42 as on 30th June 2016, as compared to Rs.265.94 as on 30th June 2015 and Rs.280.63 as on 31st March 2016.
Asset Quality:
- Gross NPA stood at 6.97% (Rs.8894 Crores) as on 30th June 2016 as compared to 6.66% (Rs.8827 Crores as on 31st March 2016.
- Net NPA to Net Advances ratio stood at 4.48% as on 30th June 2016 as against 4.20% as on 31st March 2016.
- Provision Coverage Ratio stood at 53.89% as on 30th June 2016 as against 53.37 % as on 31st March 2016.
- Stressed Ratio stood at 11.91% as on 30th June 2016 as against 11.46% as on 31st March 2016.
Capital
- Capital Adequacy Ratio (CRAR) as per Basel III at 13.98% as on 30th June 2016, of which, Tier I Capital Stood at 12.76%
- Bank's Net worth increased to Rs.13,804.37 crores as on 30 06 2016 from Rs.13,478.35 Crores as on 31 03 2016.
BUSINESS:
- The Quarter witnessed healthy trend in CASA with the portfolio increasing to Rs.55157 Crores as on 30 06 2016 from Rs.49452/- crores as on 30 06 2015. Share of CASA Deposits (Domestic) reached a level of 32.09% (Domestic) as on 30 06 2016 from 29.45% as on 30 06 2015.Performance under National Goals:
- Priority Sector portfolio increased from Rs46861 crores as of 30 06 2015 to Rs.50,015crores as of 30 06 2016. Priority sector advances as a percentage of ANBC as of 30 06 2016 stood at 42.03%
- Advances to Weaker Section increased by 8.2% from Rs.13,247crore as on 30 06 2015 to Rs. 14,335 crore as on 30 06 2016.
Other Highlights
- With strong and sufficient Capital, Bank has positioned itself as a 'Self sustaining Mid-segment Bank' with focus on Retail Business. To support this business model, specialized verticals for Retail Loans, MSME and Mid Corporate, Agriculture and other loans have been created during the quarter.
Digital Banking Initiatives:
- In the continuous endeavor to strengthen technology channels for extending added convenience to its customers, Bank had installed 174 New ATM/BNAs (Bunch Note Acceptors) during the quarter enlarging the total number of ATMs/BNAs to 2958 including 685 offsite ATMs. This in turn had resulted in migration of 54.87% of the branch Transactions.
- Transactions on Digital Channels (Mobile Banking and Net Banking) crossed the 50% mark to reach 56.75% reducing footfall in branches.
- As a customer centric measure, provision has been made for the constituents of the Bank to upload Form 15 G/H through net banking and also download interest certificate for their accounts through Net Banking or through the Bank's website.
- E Locker Facility - Online facility for customer to apply for locker by registering themselves through Bank's website launched.
- My Card, My Design - Issue of Debit cards with customized design as per the choice of the customer.
- Go Green - Green Pin facility for debit card enables creation of PIN on the go and reduces dependency on logistics.
- Training on Technology products of the Bank provided to customers as per of customer literacy initiative.
- Logging Customer complaints through ATM - Yet another avenue for redressal of customer grievances.
- Master Card Award for Best Innovation - e-Purse and Best Acquirer Business - POS.
Market has favourably responded to the good results with Bank's stock price hitting upper circuit breaker upon result announcement and presently trading around Rs 200 after reaching a high of Rs 214 on 4th August 2016.
With regards,
CHENNAI SUPPORT TEAM (SOUTH)
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