Q1FY23 RESULTS

Highlights

Balance Sheet

• Bank’s Balance Sheet size crosses Rs. 50 lakh crores.

• Credit growth at 14.93% YoY. Domestic Advances grew at 13.66% YoY and Foreign Offices’ Advances grew by 22.39% YoY.
• Domestic Advances growth driven by Retail Personal Advances (18.58% YoY), out of which Home Loan grew by 13.77% YoY.
• Corporate Loan book grew by 10.57%; SME and Agri loans have also registered YoY growth of 10.01% and 9.82% respectively.
• Whole Bank Deposits grew at 8.73% YoY, out of which CASA Deposit grew by 6.54% YoY. CASA ratio stands at 45.33% as on 30^th June 22.

Profitability

• Operating Profit for Q1FY23 at Rs. 12,753 crores as against Rs. 18,975 crores in Q1FY22, impacted by MTM Losses on investment book.
• Net Profit for Q1FY23 at Rs. 6,068 crores as against Rs. 6,504 crores in Q1FY22.
• The MTM hit also had an adverse impact on bank’s ROA and ROE, which stand at 0.48% and 10.09% respectively.
• Excluding Trading Income and MTM, Core Operating Profit increased by 14.39% YoY, from Rs. 16,873 crores in Q1FY22 to Rs. 19,302 crores in Q1FY23.
• Net Interest Income (NII) for Q1FY23 increased by 12.87% YoY.
• Domestic NIM for Q1FY23 increased by 8 bps YoY to 3.23%.

Asset Quality

• Gross NPA ratio down by 141 bps YoY at 3.91%, while Net NPA ratio down by 77 bps YoY at 1.00%.
• Provision Coverage Ratio (PCR) improved by 719 bps YoY at 75.05%. PCR (Incl. AUCA) stands at 90.14%.
• Slippage Ratio for Q1FY23 stands at 1.38%; improved by 109 bps YoY.
• Credit Cost for Q1FY23 stands at 0.61%; improved by 18 bps YoY.

Capital Adequacy

• Capital Adequacy Ratio (CAR) as at the end of Q1FY23 stands at 13.43%.

Alternate Channels

• 65% of SB accounts and 38% of retail asset accounts acquired digitally through YONO.
• Share of Alternate Channels in total transactions increased from 95.1% in Q1FY22 to 96.6% in Q1FY23.

Key Summary of Q1FY23 Results

Rs in Crores	Q1FY22	Q4FY22	Q1FY23	YoY %	QoQ %
Profit & Loss
Interest Income	65,564	70,733	72,676	10.85	2.75
Interest Expenses	37,926	39,535	41,480	9.37	4.92
Net Interest Income	27,638	31,198	31,196	12.87	-0.01
NIM, % (Domestic)	3.15	3.40	3.23	8 bps	-17 bps
Operating Profit	18,975	19,717	12,753	-32.79	-35.32
Loan loss provisions	5,030	3,262	4,268	-15.14	30.86
Profit after tax	6,504	9,114	6,068	-6.70	-33.42

Rs in Crores	Jun 21	Mar 22	Jun 22	YoY %	QoQ %
Balance Sheet
Gross advances	25,23,793	28,18,671	29,00,636	14.93	2.91
Domestic Corporate	7,90,494	8,70,712	8,74,014	10.57	0.38
Domestic Retail Personal	8,72,104	10,02,303	10,34,111	18.58	3.17
Of which: Home loans	5,05,473	5,61,651	5,75,075	13.77	2.39
Deposits	37,20,987	40,51,534	40,45,696	8.73	-0.14
Domestic CASA	16,59,234	17,75,084	17,67,666	6.54	-0.42
Domestic Term Deposits	19,50,107	21,45,117	21,32,185	9.34	-0.60
CASA Ratio (%)	45.97	45.28	45.33	-64 bps	5 bps
GNPA	1,34,259	1,12,023	1,13,272	-15.63	1.11
NNPA	43,153	27,966	28,258	-34.52	1.04

Ratios, %	Q1FY22	Q4FY22	Q1FY23	YoY, bps	QoQ, bps
Asset Quality
GNPA	5.32	3.97	3.91	-141	-6
NNPA	1.77	1.02	1.00	-77	-2
PCR (Incl AUCA)	85.93	90.20	90.14	421	-6
PCR	67.86	75.04	75.05	719	1
Slippage Ratio	2.47	0.43	1.38	-109	95
Credit Cost	0.79	0.49	0.61	-18	12
Capital Ratios
CET-1 ratio	9.91	9.94	9.72	-19	-22
Tier-1 ratio	11.32	11.42	11.15	-17	-27
CAR	13.66	13.83	13.43	-23	-40