Highlights:

The bank has churned significant amount of loan book since 01 October 2020 with the adoption of new strategy.

The bank has build new loan book of Rs 22750 crore with new underwriting mechanism. The new loan book has GNPA ratio of 0.1%, SMA 2 of 0.35% and NIM of 3.7%. The ROA on new loan book is also high at above 1% and RoE above 15%.

The bank has significantly improved PCR by 1082 bps to 69.6% in FY2022, which used to be in mid 50s.

The bank has recorded strong recoveries of Rs 1450 crore in FY2022, which used to be Rs 500-700 crore in last few years.

The bank has reduced NNPA to 2.97% end March 2022 from a peak of 5.02%.

SMA 2 loan book has improved sharply from Rs 2139 crore end June 2021 to Rs 892 crore end March 2022.

The loan book of the bank has increased 4%, supported by strong disbursements of Rs 24533 crore in FY2022 led by disbursements of Rs 10247 crore in corporate segment and Rs 7998 crore in gold loan segment.

The share of good rated corporate loan book has increased from 63% in October 2020 to 89% in March 2022. The bank has witnessed zero NPAs in new corporate loan book.

The gold loan book increased 20% end March 2022.

The bank has issued 72000 credit cards with the book of Rs 200 crore.

The bank is targeting double digit loan growth in FY2023

The bank has recorded 20% growth in CASA deposits and improved CASA ratio by 125 bps to 33.5%. The bank has reduced bulk deposits by 21%.

The bank has recorded 6% growth in the NRI deposits with the share at 31%.

The investment book of the bank was at Rs 22534 crore with AFS book at Rs 3174 crore.

The fresh slippages were Rs 345 slippage in Q4FY2022 and Rs 2142 crore in FY2022 which is below target of Rs 2500 crore.

The restructured loan book stood at Rs 2417 crore, of which business loans is Rs 1338 crore, personal loan Rs 305 crore, corporate loan Rs 774 crore.

The bank is holding provisions of Rs 617 crore against restructured loan book.

The collection efficiency has improved to 102% in Q4FY2022.

The recoveries and upgrades were Rs 412 crore in Q4FY2022.

The bank has conducted sale of asset sale to ARCs at Rs 151 crore in Q4FY2022.

The bank aims to reduce GNPA below 5% and NNPA below 2% in FY2023.

The bank expects credit cost at 1.75-2.0% in FY2023.

The bank has witnessed Rs 68 crore of tax provision reversal on favourable order for earlier years

The net interest margin stood at 2.82% in FY2022, while bank aims to improve NIM to 3.0% in FY2023.

The bank aims to improve PCR to 75% in FY2023.

The bank expects slippages to be Rs 1600-1700 crore in FY2023, of which Rs 1100-1000 crore would be regular and Rs 600 crore would be slippages from restructured book. The slippages would be lower than Rs 2200 crore in FY2022 Rs 2350 crore in FY2021

Under ECLGS scheme, the bank has sanctioned Rs 3163 crore of loans to 9950 accounts, while outstanding exposure is Rs 2265 crore with NPAs of Rs 131 crore.