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Romesh Sobti, managing director, said this was due to core fee income rising 29 per cent and net interest income by 18 per cent, over a year.
“Though the industrial momentum is slow-paced, we can see steady credit uptick, which would accelerate growth in the coming quarters,” he said.
The share of low-cost deposits — current account and savings accounts (Casa) — in the total was 34.1 per cent as compared to 32.6 per cent at the end of March 2014. Sobti said the aim was to raise the Casa share to 40 per cent by March 2017. And, that a change in their base rate change was imminent.
Total advances grew 25 per cent to Rs 68,788 crore for the financial year of 2014-15. Total deposits rose to Rs 74,134 crore, up 23 per cent. Net interest income was Rs 925 crore in the March quarter, final one for the financial year. For the full year, net profit stood at Rs 1,794 crore, up 27 per cent, as noted earlier.
The ratio of gross non-performing assets (NPAs) to the total was 0.81 per cent in the March quarter, compared to 1.12 per cent in the same period a year before. The bank sold Rs 60 crore to asset reconstruction companies. The net NPA ratio was flat at 0.31 per cent as compared to 0.33 per cent on March 31, 2014.
Net interest margin was 3.68 per cent as against 3.75 per cent in end-March of 2014.
Sobti said they wished to bring the corporate to retail book mix to 50-50 in the next 18 months from 59-41 at this point.
