The financial institution has made accelerated provisions of Rs 292 crore through the quarter. Whole provisions additionally stood at Rs 292 crore after adjustment of normal provisions and provisions write-back as towards Rs 91 crore made within the yr in the past interval. Its provision protection ratio rose to 74.21% from 71.08%.
“In alignment with our dedication to constructing a sturdy basis, we’ve got undertaken accelerated provisioning for sure riskier asset courses this quarter,” managing director KVS Manian mentioned.
The Kochi-headquartered lender’s asset high quality nevertheless improved with gross non-performing property ratio falling to 1.95% on the finish of December 2024 from 2.29% a yr again. Internet NPA ratio stood at 0.49% towards 0.64%.
Working revenue was at Rs 1570 crore towards Rs 1437 crore, buoyed by 14.5% enlargement in internet curiosity earnings at Rs 2,431 crore. Charge earnings additionally rose 21% year-on-year.
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Its whole internet advances grew 16% year-on-year to Rs 2.30 lakh crore whereas whole deposits elevated by 11% to Rs 2.66 lakh crore on the finish of December.
