PERFORMANCE HIGHLIGHTS FOR MARCH 2012
Challenging Economic and Banking Environment
Q4 FY’11-12 12M FY’11-12
Total Income 21.3% 32.8%
Net Profit 8.6% 6.1%
Net Interest Income 6.2% 16.7%
Performance Highlights for the Q4 FY 2011-12 and 12M FY 2011-12 ended MARCH 2012
- Total Business of the Bank stood at Rs.1,90,535 Crore, recording a Y-o-Y growth of 16.0% over Rs.1,64,310 Crore in Mar’11.
- Deposits at the end of Mar’12 stood at Rs.1,05,851 Crore as compared to Rs.92,156 Crore in Mar’11, registering a growth of 14.9% on Y-o-Y basis.
- Advances recorded a growth of 17.4% (Y-o-Y) reaching the level of Rs.84,684 Crore as on Mar’12 from Rs.72,154 Crore as on Mar’11.
- CASA Deposits increased to Rs.27,947 Crore in Mar’12 from Rs.26,779 Crore in Mar’11.
- CASA share in Total Deposits is 26.4% as at end of Mar’12.
- Total Income during Q4 FY’11-12 rose by 21.3% to Rs.3,229 Crore.
- Total Income during 12M of FY’11-12 increased to Rs.12,199 Crore, recording a growth of 32.8%.
- Net Interest Income during Q4 FY’11-12 improved to Rs.914 Crore recording a growth of 6.2% over Q4 FY’10-11.
- During 12M FY’11-12, N I I improved by 16.7% to Rs.3,759 Crore.
- Operating Profit grew by 16.7% to reach Rs.2,815 Crore in 12 months of FY’11-12 as compared to Rs.2,413 Crore for 12M FY’10-11.
- Net Profit during Q4 of FY ’11-12 improved to Rs.340 Crore, recording a growth of 8.6%. For the 12M period ended MARCH 2012, Net Profit grew by 6.1% to reach Rs.1,345 Crore.
- Gross NPA ratio stood at 2.12% as at Mar’12 while Net NPA ratio is 0.91%.
- Net Interest Margin (NIM) stood at 3.34% for the quarter ended Mar’12 and 3.67% for 12 months ended Mar’12.
- Return on Assets stood at 1.13% in the Q4 of FY 2011-12 and at 1.19% for 12 Months ended Mar’12.
- Cost to Income ratio stood at 39.06 % in 12M FY 2011-12 as against 41.40% for 12 months of FY 2010-11.
- Earnings Per Share was Rs.24.03 for the period ended Mar’12.
- Board has recommended a dividend of Rs. 5.50 per equity share
- Book Value per Share improved to Rs.124.59 in Mar’12 as against Rs.116.02 in Mar’11.
- CRAR of the Bank stood at 13.18% under BASEL-II (Tier-I Capital: 9.02%; Tier-II Capital: 4.16%).
- Gross NPAs of the Bank reduced from Rs.1,884 Crore (Dec 2011) to Rs.1,798 Crore. Net NPAs reduced from Rs. 943 Crore (Dec 2011) to Rs. 756 Crore as at the end of Mar’12.
- During the FY 2011-12, the Bank has opened 80 Branches taking the PAN India presence to 2821 Delivery Channels consisting of 1712 Branches, 15 Extension Counters, 38 Satellite Offices and 1056 ATMs.
- Priority Sector Advances improved to Rs.27,027 Crore as on 31.03.2012 from Rs.23,082 Crore as on 31.03.2011, recording a growth of 17.1%.
- Advances to Agriculture have gone up to Rs.12,459 Crore as on 31.03.12, from Rs.10,369 Crore as on 31.03.11, recording a growth of 20.1%.
M S M E
- MSME Advances registered a growth of 18.3% and stood at Rs.13,132 Crore as at the end of March 2012 as against Rs.11,105 Crore in Mar’11.
- Retail Credit Portfolio of the Bank increased to Rs.11,301 Crore as on 31.03.2012 compared to Rs.10,479 Crore as on 31.03.2011, registering a Y-o-Y growth of 7.8%.
- Bank covered all the allotted 1149 FI Villages with population of more than 2000 with banking service outlets by deploying Business Correspondent Agents as on 31.03.2012, by leveraging technology.
- We have initiated the process to open ‘Ultra Small Branches’ in all FI villages as per the directions of the Ministry of Finance, Govt. of India. Under the Ultra Small Branch concept, an identified Officer from the Branch shall visit the FI village once in a week on a specified day along with a laptop having Virtual Private Network (VPN) connectivity to CBS to render the activities communicated by the Ministry. The new Product launched, i.e., Savings cum OD facility upto a limit of Rs.10,000/- to Non-Farmer Households has been extended to Financial Inclusion Customers.
- Smart Card Project : Bank has been implementing Smart Card Project in association with Govt. of AP in 4 Districts – viz., Srikakulam, Warangal, Guntur and East Godavari, for distribution of Govt. benefits such as Social Security Pensions and Wages under MGNREG Scheme. The Scheme is operated in ‘Business Correspondent Model’. As at the end of March 2012, 16.12 lacs Beneficiaries were covered in 2665 Villages and an amount of Rs.436 crore was disbursed.
- Bank recently launched a new Product named “Abhaya First Wealth Pack” in all its Branches, combining features of four products, viz., Recurring Deposit, Savings Bank Account, Unit Linked Plan (Equity Option) and Life Insurance Cover. This is available in three denominations of Silver (Rs.25,000/-), Gold (Rs.50,000/-) and Platinum (Rs.1,00,000/-).
- The Prepaid Cards launched by Bank in September 2011 under Gift and International Travel received good response from the Customers.
- Gift Cards which are Initially issued at select Branches, is proposed for extending in the remaining Branches also. Presently, the Gift Cards are issued without any charges. The Gift Cards are available in flexi denomination from Rs.250/- to Rs.50,000/-. The Gift Cards are preloaded. Hence, while considering the safety point of the Cardholders, several risk mitigation measures are implemented for operating the Gift Cards, like :
- PIN is enabled for POS usage and is subject for prompting PIN at POS Terminal.
- Cardholder can lock the card temporarily when the card is not used.
- SMS Alerts are enabled for all transactions
- The International Travel Prepaid Cards are issued initially under US Dollars. While considering the Customers affordability, the Cards are issued with an initial load of USD 200 and reloading of USD 100. The Cards are issued without charges.
- Bank introduced several facilities such as inter bank mobile payment service (IMPS), collection of commercial taxes/VAT through internet banking, direct tax payments through ATMs, opening of term deposit accounts through internet, online request for cheque books, account number portability etc.
- Bank is considering to expand the branch network by opening about 200 branches on PAN India basis. It is also proposed to add about 200 ATMs.
AWARDS AND ACCOLADES
- The Bank has received “Editorial Board Roll of Honour” under Mid-size Public Sector Banks’ Category in the CNBC - TV18 Best Bank and Financial Institution Awards presented by MCX for the year 2011.