Net interest income rose by 52 per cent for the quarter to Rs 157.97 crore from Rs 103.4 crore and fee and other income (excluding exception item in the quarter ended June 30, 2007) registered a growth of 49 per cent to Rs 127.88 crore from Rs 85.83 crore, driven by strong growth in retail and wholesale segments, according to the private sector bank.
Provisional and contingencies increased to Rs 41.43 crore from Rs 15.89 crore due to higher risk costs and depreciation in the bank's investment portfolio.
As of June 30, 2008, the net worth of the bank stood at Rs 1,467 crore and capital adequacy ratio at 10.38 per cent.
"In this challenging economic environment, we are pleased to report continued improvement in the core operating performance of the bank. We remain focussed on profitable growth and expanding franchise", said Vaughn Richtor, MD.
The bank showed healthy growth across all key business parameters. Deposits grew by 24 per cent to Rs 20,381 crore. Low cost deposits increased by 34 per cent to Rs 6,056 crore. Advances grew by 22 per cent to Rs 14,433 crore.
Total assets registered a 30 per cent growth to Rs 25,941 crore from Rs 19,964 crore last year.
The credit-deposit ratio stood at 70.8 per cent as at June 30, 2008 as against 71.6 per cent as at June 30, 2007.
