Net NPAs stood at 0.05% of net advances and there was no fresh restructuring of loans during the quarter and restructured advances stood at R100.9 crore or 0.18% of gross advances, the bank stated. The bank sold Rs 12 crore worth of bad loans in Q4 and made recoveries worth Rs 35 crore, Monga added.
In a post-results conference he stated that NPA position has improved compared to the December quarter. The economic environment continues to be challenging, but it is safe to say that the stress of asset quality has bottomed or peaked out.
While total advances were up 18.4% y-o-y at Rs 55,633 crore in Q4, large corporate lending accounted for 63.3% of the advances portfolio and mid-sized corporate lending accounted for 15.5% and branch banking, which includes retail and MSME lending, accounted for 21.2% of the advances.
Total deposits grew 10.8% y-o-y to R74,192 crore. Current and savings account (Casa) deposits grew 28.8% y-o-y to R16,344.7 crore, taking the Casa ratio to 22%.