Highlights:

Bank has completed more than nine decades of services, while maintaining the consistent profitability.

Bank has network of 675 branches and 1000 ATMs spread across 21 states and two union territories at end March 2015.

Bank has reduced the high cost deposits to negligible level of Rs 166 crore at end March 2015.

Over next three-to-five years bank proposes to reduce the share of corporate loans to 40% from existing 50%, while the retail loans is targeting to be improved to 60% from existing 50%.

bank has consistently achieved the priority sector lending (PSL), while the bank has also met the shortfall in PSL agriculture lending. Achieving the PSL agriculture lending target has helped the bank to get more low yielding RIDF released from Rs 2950 crore two years ago to Rs 1950 crore ate end March 2015, which has further declined to Rs 1750 crore as on date. About Rs 300 crore of additional RIDF investment are expected to be released in rest of FY2016.

Bank stands to benefit from the revised PSL lending norms, as the new norms places PSL lending of the bank higher at 48%, against 46% as per the existing norms.

Fresh slippages of advances was higher at Rs 929.83 crore in FY2016 compared with Rs 653.88 crore in the previous year. However, the slippages of FY2016 also includes the inter-quarter slippages.

Fresh restructuring of advances stood at Rs 454.01 crore in FY2016 declining from Rs 585.65 crore in the previous year.

Restructured advance book of the bank stood at Rs 2023 crore, of which Rs 224 crore is in NPA category. In FY2016, about Rs 83.48 crore of restructured advances slipped to NPA category.

Net securities receipts on the books of the bank stood at Rs 287 crore, which has gross of Rs 320 crore.

Bank has exposure to the consortium accounts at about 10-12% of the loan book.

Employee count of the bank stood at 7382 employee at March 2015. With the strong focus on digitalisation, bank sees need for fresh recruitment going down.

The employee expenses of the bank halved in Q4FY2015, on account of reversals of Rs 13-14 crore of excess wage revision provisions and Rs 60-70 crore of pension provisions.

Targets of FY2016

Bank has targeted the business level of Rs 91000 crore with a growth rate of 17.3%. Business is further targeted to improve to Rs 107000 crore in FY2017 and Rs 129000 crore in FY2018.

The target for advances is placed at Rs 37500 crore with a growth rate of 18.4%, while deposits target is Rs 53500 crore with a growth of 16.8%.

Bank proposes to improve the Credit-Deposit ratio to 70% & above and to 75% by FY18

Bank has planned to cut the Net NPA ratio to 1.33% by end March 2015.

Bank has no restructuring pipeline, while bank plans to sale Rs 50-100 crore of NPAs in 3-4 months

The Operating Profit target is placed at Rs 1000 crore

RoA is targeted to improve to 1% & above

NIM is proposed to improved t 2.5-2.8% for FY16m while it is further targeted to improve to above 3% for FY17

CASA is proposed to be scaled up to 27% for FY16 & 30% for FY17

Bank plans to add 50 branches (mostly by Oct'15) and 275 ATMs in FY16

Cost- to-income ratio projected to improve to 48% in FY16 & 45% for FY17

Bank is working on vision 2020 plan target with focus on centenary year 2024, which would be released shortly