Indian bank Financial Results for the Quarter/Nine months ended as on 31st December 2023

Key Highlights (Quarter ended Dec’23 over Dec’22)

Bank’s Global Business reached 11.64 lakh Crup by 11%YoY

• Net Profit up by 52% YoY at 2119 Cr in Dec’23 from 1396Cr in Dec’22

• Profit Before Tax up by 78% YoY at ₹2747 Cr in Dec’23 from ₹1546 Cr in Dec’22 

• Operating Profit improved to 4097 Cr in Dec’23 from ₹4061 Cr in Dec’22

• Net Interest Income increased by 6% YoY to 5815 Cr in Dec’23 from 5499 Cr in Dec’22

• Fee based income grew by 21% YoY to 852 Cr in Dec’23

• Return on Assets (RoA) up by 31 bps to 1.11% in Dec’23from 0.80% in Dec’22

• Return on Equity (RoE) increased by 471 bps to 19.92% inDec’23 from 15.21% in Dec’22

• Yield on Advances (YoA) up by 59 bps to 8.78% in Dec’23 from 8.19% in Dec’22

• Yield on Investments (YoI) increased by 28 bps to 6.80% inDec’23 from 6.52% in Dec’22

• Gross Advances increased by 13% YoY to 509800 Cr in Dec’23 from 451658 Cr in Dec’22

• RAM (Retail, Agriculture & MSME) advances grew by 13%YoY to 296845 Cr in Dec’23 from 262811 Cr in Dec’22

• RAM contribution to gross domestic advances is 62.58%. Retail, Agri & MSME advances grew by 14%16% and 7%YoY respectively. Home Loan (Including mortgage) grewby 12% YoYAuto Loan by 46% YoY and Personal Loan by 30% YoY

• Priority Sector portfolio stood at 171480 Cr in Dec’23. Priority sector advances as a percentage of ANBC stood at 43.71% as against the regulatory requirement of 40%.

• Total Deposits increased by 10% YoY and reached to 654154 Cr in Dec’23CASA deposit grew by 8%, savings deposit grew by 7% and Current deposit by 12% YoY

• Domestic CASA ratio stood at 41.14%

• GNPA decreased by 206 bps YoY to 4.47% in Dec’23 from 6.53%, NNPA reduced by 47 bps to 0.53from 1.0% in Dec’22

• Provision Coverage Ratio (PCR, including TWO) improved by 231 bps YoY to 95.90%


Key Highlights (Quarter ended Dec’23 over Sep’23)

Capital Adequacy Ratio stood at 15.58%. CET-I improved by 39 bps YoY to 12.36%
Tier I Capital improved by 30 bps YoY to 12.88%

• Net Profit up by 7% QoQ to 2119 Cr in Dec’23 from 1988Cr in Sep’23

• Net Interest Income stood at 5815 Cr in Dec’23 as against5741 Cr in Sep’23

• Return on Assets (RoAimproved to 1.11% in Dec’23 from 1.06% in Sep’23

• Return on Equity (RoE) improved to 19.92% in Dec’23 from 19.90% in Sep’23

• Yield on Advances (YoA) improved to 8.78% from 8.75% in Sep’23 and Yield on Investments (YoI) improved to 6.80%in Dec’23 from 6.77% in Sep’23

• Domestic Net Interest Margin (NIM) stood at 3.49% in Dec’23

• Cost-to-Income Ratio stood at 46.90% in Dec’23

• Slippage Ratio contained to 1.28% in Dec’23 in comparison to 1.77% in Sep’23 i.e improvement of 49 bps


Key Highlights (9M ended Dec’23 over Dec’22)

Net Profit up by 52% YoY to 5816 Cr in 9MFY24 from 3834 Cr in 9MFY23

• Profit Before Tax up by 77% YoY at 7894 Cr in 9MFY24from 4461 Cr in 9MFY23

• Operating Profit increased by 11% at 12535 Cr in 9MFY24from 11255 Cr in 9MFY23

• Net Interest Income grew by 17to 17258 Cr in 9MFY24from 14717 Cr in 9MFY23

• Return on Assets (RoA) increased by 29 bps to 1.04% in9MFY24 from 0.75% in 9MFY23

• Return on Equity (RoE) up by 483 bps to 19.25in9MFY24 from 14.42in 9MFY23

• Domestic Net Interest Margin (NIM) increased by 19 bps to 3.54% in 9MFY24 from 3.35in 9MFY23

• Yield on Advances (YoA) up by 109 bps to 8.69% in 9MFY24from 7.60% in 9MFY23

• Yield on Investments (YoI) increased by 38 bps to 6.77% in9MFY24 from 6.39% in 9MFY23


• The Bank has 5835 domestic branches (including 3 DBUs), out of which 1981 are Rural, 1527 are Semi-Urban, 1173 are Urban & 1154 are in Metro category. The Bank has 3overseas branches & 1 IBU.

• The Bank has 4899 ATMs & BNAs and 10942 number of BCs.

Digital Banking:

• Business through Digital Channels crossed ₹52,000 Cr. So far 78 Digital Journeys have been launched. More Journeys will be launched in the months to come.

• Mobile Banking users increased by 47% YoY and reached to 1.59 Cr.

• UPI users and Net Banking Users both, increased by 38% YoY each, and reached to 1.64 Cr and 1.03 Cr respectively. 

• Number of UPI QR merchants on-boarded surged by 311% YoY and reached to 36 lakh, and number of PoS increased by 47% YoY to 21725.

• ‘Online Tax Portal for Village Panchayats’- launched for collection of taxes in all Village Panchayats in Tamil Nadu.

Awards & Accolades:

• Bank was adjudged the Most Preferred Workplace in BSFI sector for 2023-24 by Marksmen Daily.

• Bank was awarded Fastest Growing Public Sector Bank by Dalal Street Investment Journal (DSIJ) in 2023 Banking award.

• Bank was conferred BFSI Award for Use of Emerging Technology in Banking Industry for Project “PARADISE” for Adoption of Cloud Computing for AiX Environment by GOVERNANCE NOW.

• Chief Technology Officer of the Bank was awarded BFSI Award for the Best Digital Transformation Leader, CTO for the year 2023.

Our Focus

Bank’s unwavering focus revolves around understanding and meeting the unique needs of the diverse customer base. With a commitment to excellence, we strive to provide seamless financial services that cater to the dynamic requirements of individuals and businesses across the nation. 

The Bank is strategically channelising its efforts toward optimizing the mobilization of CASA deposits, with a firm commitment to delivering unparalleled customer services that impeccably address the diverse needs of our valued depositors.