Its net interest margin for the quarter improved to 5.95% from 5.76% in the preceding three-month period. The NIM for the year-ago quarter was at 5.93%.
The bank’s operating profit was at Rs 1059 crore as compared with Rs 1812 crore a year prior, as a result of the financial impact of the fraud. It recognised the entire amount involved in the fraud as an expense in the books for the quarter ending March 31 leading to an abrupt rise in operating expenses and fall in operating profit.
There was also a fall in other income due to a Rs 274 crore loss it booked on account of a sale of equity shares in a stressed power company. Total income however, stood at Rs 12183 crore as compared with Rs 11308 crore earlier.
Its gross advances meanwhile grew 20% year-on-year to Rs 2.84 lakh crore while gross non-performing assets ratio fell 26 basis points to 1.61%.
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Total deposits expanded by 17% to Rs 2.95 lakh crore, with the current and savings bank share improving by 289 basis points in the last one year to 49.8%.
The board proposed a 25 paise dividend per share for FY2626 which reflects a 2.50% dividend on face value of Rs 10 each.