The bank’s net interest margin for the quarter was 4.04%, up 14 basis points quarter-on-quarter.
Operating profit in the same period was Rs. 551 crore against Rs. 748 crore was 36% higher. Net interest income grew by 17.8% YoY to Rs. 1509 crore while other income in the quarter increased by 33% to Rs. 242 crores.
“These Q3 results confirm our strong fundamentals and operational efficiency,” managing director Amitav Chatterjee said in a statement issued by the company.
The Jammu-headquartered bank’s gross NPA ratio fell to 4.08% at the end of December from 4.84% a year ago. Net NPA was 0.94% while provision coverage ratio was 89.67%.
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Its net advances grew by 7% year-on-year to Rs. 95990 crores. Deposits increased by 9.7% to Rs. 1.41 lakh crore, with the ratio of current and savings accounts to total deposits being 48.17%.
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