| For the year ended March 2006, the bank has registered 44.98 per cent growth in net profit at Rs 485.08 crore compared with Rs 334.58 crore recorded during the previous financial year. |
| Chairman PJ Nayak said, "Despite the steep rise seen in the cost of funds, we have been able to protect our margins. With income from interest earnings and fee-based revenues growing by 59 per cent and 47 per cent respectively, the cost-to-income ratio has remained stable at 44.9 per cent." The bank's board of directors recommended a dividend of 35 per cent. |
| The capital adequacy ratio of the bank came down to 11.08 per cent from 12.66 per cent in 2004-05. The net non-performing assets stood at 0.75 per cent on an overall basis, with retail NPAs a tad lower at 0.5 per cent. |
| The net interest income for the fourth quarter grew 59.3 per cent to Rs 312.86 crore, from Rs 196.29 crore reported during the corresponding quarter of the preceding year. |
| The net interest margin for the reporting quarter was 2.96 per cent compared with 2.64 per cent a year ago. Income from fee-based businesses and other income for the quarter under review grew by 47.27 per cent to Rs 162.38 crore, as compared with Rs 110.26 crore last year. |
| While total deposits experienced growth of 26 per cent year-on-year to Rs 40,114 crore as on March-end (Rs 31,712 crore last year), the net advances grew by 43 per cent to Rs 22,314 crore (Rs 15,603 crore last year). |
| Net NPAs as a proportion of the net customer assets portfolio stood at 0.75 per cent compared with 1.07 per cent last year. |
| Retail advances registered 55 per cent jump to Rs 6,490 crores from Rs 4,184 crore. |
| The bank has already received regulatory approval for opening a representative office in Shanghai which will be launched in the current financial year, Nayak said. |
| Earlier this month, the bank opened its first overseas branch at Singapore with a focus on offshore corporate and merchant banking business. |
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