OREANDA-NEWS. Operating Profit up by 6.94 % at ‘ 1021.92 crore

Cost of Deposit has come down from 7.29% to 7.28% (Qtr on Qtr)

Net Interest Income increases to ‘ 1312 crore

NIM has gone up from 2.81% to 2.83% (Qtr on Qtr)

Book Value per share increases to ‘ 218.74

Earnings per Share stood at ‘ 8.26 for the quarter

Highlights of Performance in Q-1 of FY, 2013-14

Operating Profit increased to Rs. 1022 crore for June, 2013 as against Rs. 956 crore for June, 2012.

Net Profit stood at Rs. 413 crore during the quarter ending June, 2013.

Net Interest Margin (NIM) stood at 2.83 % during the quarter ending June, 2013.

Net Interest Income during the quarter ending 30.06.13 increased to Rs. 1312 crore as against Rs. 1306 crore during the corresponding period last year.

Other Income of the Bank increased to Rs. 501.29 crore as on 30.06.13 as against Rs. 309.55 crore on 30.06.12 showing a YoY growth of 61.94 %.

Total Business of the Bank increased to Rs. 3,09,118 crore as on 30.06.13 as against Rs. 2,67,329 crore on 30.06.12 showing a YoY growth of 15.63 %.

Deposits of the Bank increased to Rs. 1,80,177 crore as on 30.06.13 from Rs. 1,56,867 crore as on 30.06.12. Year-on-Year basis, the Total Deposits grew by 14.86%.

Gross Credit increased to Rs. 1,28,941 crore as on 30.06.13 as against Rs. 1,10,462 crore as on 30.06.12. Year-on-Year basis, the Gross Credit increased by 16.73 %.

Gross NPA to Gross Advances was 4.78 % as on 30.06.13.

Net NPA to Net Advances Ratio was 3.87 % as on 30.06.13.

Provision Coverage Ratio was 48.18 % as on 30.06.13.

Capital Adequacy Ratio was 11.07 % as on 30.06.13.

Shareholders’ Value

Earning per Share was Rs. 8.26 as on 30.06.13.

Return on Asset stood at 0.83 % as on 30.06.13.

Book Value per Share increased to Rs. 218.74 as on 30.06.13.

Technology

The Bank has launched a new product, RuPay Debit Card on 24.04.2013 for customers to use in ATMs/POS within India.

The Bank has issued more than 21.57 lac ATM-cum-Debit Cards. Bank’s total number of ATMs/Cash Dispensers increased to 600.

By using online facility, Internet Banking customers are opening Term Deposit and Recurring Deposit accounts at our branches.

E-Payment of Maharashtra Professional Tax has been made live from 25.06.2013.

Social Banking

Priority Sector Credit grew from Rs. 36,254 crore as on 30.06.12 to Rs. 39,837 crore as on 30.06.13 registering an absolute YoY growth of Rs. 3583 crore.

Agriculture Credit increased from Rs.16,218 crore as on 30.06.12 to Rs. 17,805 crore as on 30.06.13 registering an absolute YoY growth of Rs. 1587 crore.

Credit to Micro & Small Enterprises (MSE) grew from Rs.15,469 crore as on 30.06.12 to Rs. 16,598 crore as on 30.06.13.

Bank has opened 30 Financial Literacy Centres in the states of West Bengal, Uttar Pradesh and Madhya Pradesh for guiding the masses in improving savings habit and enlightening them on credit availability.

Under Aadhaar project of UIDAI, Bank has enrolled 40,07,285 residents up to 30.06.2013 by the two empanelled Enrolment Agencies in the State of Maharashtra and Jharkhand in the 2nd phase.

Retail Credit

Total Outstanding under Retail Credit as on 30.06.13 rose to Rs. 17757.87 crore as against Rs. 15,321.32 crore as on 30.06.12, registering 15.90 % YoY growth.

Total Disbursement under Retail Credit of the Bank during June,2013 quarter surged to Rs. 1042.07 crore as against Rs. 984.38 crore during the corresponding period last year.

Bank has financed Rs. 56.62 crore for commercial use under its Commercial Vehicle Finance Scheme during the June, 2013 quarter.

Total disbursement under Bank’s Housing Loan during June,2013 quarter increased to Rs. 393.66 crore as against Rs.244.83 crore last year, registering a growth of 60.79% YoY.

40 Centralised Retail Banking Boutiques (CRBBs) of the Bank have sanctioned / processed Rs. 289.71 crore in 2035 cases during the June, 2013 quarter.

Accolades

The Bank has been conferred National Award 2011-12 by the Ministry of Micro, Small & Medium Enterprises, Government of India under PMEGP on 03.04.2013 for excellence in the field of Khadi and Village Industries.

Future Plans

Bank has planned to achieve Rs. 3,60,000 crore of Total Business by 31st March, 2014.

The Bank intends to open 300 Branches during 2013-14.