The bank’s net interest margin for the quarter stood at 4.04%, up 14 basis points quarter-on-quarter.
Operating profit was 36% higher at Rs 748 crore against Rs 551 crore for the same period. Net interest income grew 17.8% year-on-year at Rs 1509 crore while other income for the quarter surged 33% at Rs 242 crore.
“These Q3 results reaffirm our strong fundamentals and operational efficiency,” managing director Amitava Chatterjee was quoted as saying in a statement issued by the company.
The Jammu-headquartered bank’s gross NPA ratio declined to 4.08% at the end of December from 4.84% a year back. Net NPA stood at 0.94% while the provision coverage ratio was at 89.67%.
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Its net advances increased by 7% year-on-year to Rs 95990 crore. Deposits grew 9.7% to Rs 1.41 lakh crore with the current and savings accounts ratio to total deposits being at 48.17%
