In a telephonic conversation with ET, the bank’s MD and CEO PR Seshadri said, “The bank has recorded strong growth in net interest income, treasury income as well as other income due to collections.
The Bank’s net interest income increased by 7.18% YoY to Rs. 807.77 crore to Rs. 865.77 crores.
8.37% in retail deposits or Rs. 7,702 crore, Rs. 92,043 crore to Rs. 99,745 crores. 6.51% growth in Bank’s Current and Savings Accounts (CASA) on a year-on-year basis from 2017-10 with savings bank growing at 4.87% and current account at 14.80% respectively.
Gross Advances Rs. 8,478 crore to Rs. 74,102 to Rs. 82,580 crore, up 11.44 percent year-on-year.
The bank’s gross non-performing assets declined 63 bps to 4.50% from 5.13% year-on-year.
As part of the strategy, the bank is planning to focus more on MSME and retail loans to rebalance its portfolio, Sheshdari said.
According to Sheshdari, in an effort to raise more deposits, the bank has tied up with a fintech aggregator to acquire time deposits. He said the bank is in the process of making a similar tie-up for the loan.
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