The bank’s pre-incompetent operating paying profit, compared to Rs 500 crore, also costs XXX lower at Rs. 375 crore. This is mostly due to the increase in costs, which has increased faster than the increase in revenue.
Its quarter total revenue is Rs. 2687 crore, which increased 2.6% compared to Rs 2620 crore. In comparison, the total expenditure during the same period increased 9% to 2312 crore compared to 2120 crore.
The net interest margin for the quarter was 2.98% lower for the quarter compared to 32.321% in the year ago.
Bank management said that the reduction in profitability was due to a change in the accounting policy.
“Due to the change in the accounting policy for investment since April 2024, the previous year’s corresponding figures are not directly comparable,” added that if the subsequent tax amount continued to comply with the subsequent accounting policy in the quarter under review, it would have been higher at Rs 372 crore.
The total non-performing property ratio of 3.53% to the end of March has dropped to the quality of the bank’s property a year ago. Net NPA was 1.31 % against 1.58 %.
Its total progress increased by 6.8% annually to Rs. 77,959 crore, the retail loan accounts for 93.4%. Deposits increased 7% to Rs. 1.05 lakh crore.
The bank board recommended a dividend of Rs 5 per equity share for the last financial year.
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