Operating profit of the Bank increased by 19.0% in FY20 to INR 19,691crore. CASA ratio increased by 181bps YoY and Cost to income ratio fell to 47.86% in FY20 from 52.01% in FY19.Slippage ratio fell to 2.97% in FY20 from 4.34% in FY19.
Highlights
Operating Profit for Q4FY20 is INR 5,121 crore, an increase of 47.89% due to 23.21% decline in operating expenses (Q4FY19 included amalgamation related one-off). Operating Profit for FY20 is INR 19,691 crore, an increase of 19.0%.
Global NIM during Q4FY20 increased to2.67% from 2.62% and domestic NIM increased to 2.78%from 2.68%.
Domestic cost of deposits in Mar’20 is lower by 33bps YoY at 5.20% on the back of higher domestic CASA ratio at 39.1%.
Global advances increased by 5.95% led by international and domestic retail loans (ex-portfolio purchase) which grew by 9.1% and 16.05%respectively.
Domestic credit deposit ratio increased to 80.67% as on March 31, 2020 from 78.73% as on March 31, 2019
Gross NPA ratio fell to 9.40% as on March 31, 2020 against 10.43% as on December 31, 2019 (10.02% as on March 31, 2019). Net NPA ratio to 3.13% as against 4.05 % as on December 31, 2019 (3.65% as on March 31, 2019).
Slippage ratio fell to 2.97% in FY20 compared with 4.34% in FY19.
Credit cost declined to 1.82% in Q4FY20 compared with 3.88% in Q3FY20
PCR continues to be high. PCR including TWO at 81.33% as on March 31, 2020 compared with 77.77 % as on December 31, 2019(77.72% as on March 31, 2019).
Bank reported a Net Profit of INR 507 crore and INR 546crorein Q4FY20 and FY20respectively. Consolidated Net Profit in FY 20 stood at INR 928crore.
For FY20, Bank registered a Net Profit of INR 546 crore compared with loss of INR 8340 crore during FY19
Integration moving forward as per plan despite COVID-19with IT integration to be completed in the current financial year
ASSET QUALITY
Fresh slippage for the quarter was at INR 3,050crore. Provision for NPAs was at INR 3,190crore for the quarter.
