Bhubaneswar, 22 July, 2024: Business Growth – Total Business grew by 11.46% to Rs.461408 crore on y-o-y, wherein Gross Advances increased by 17.64% to Rs. 193253 crore on y-o-y & Total Deposits grown by 7.39% on y-o-y to Rs.268155 crore.

 Improved Profitability & Return – Net profit for the quarter ending
30.06.2024 stood at Rs.551 crore as against Rs.223 crore for the same
period of preceding year, registering a growth of 147.09% y-o-y. Operating
Profit for the quarter ended 30.06.2024 stood at Rs.1321 crore showing an
increase of 9.81% on y-o-y basis.

 Advances in Retail, Agriculture & MSME (RAM) Sectors – RAM segment of
the Bank increased by 18.65% to Rs.101986 crore on y-o-y backed by 21.84%
y-o-y growth in Retail advances , 19.64% y-o-y growth in Agriculture advances
and 14.04% y-o-y growth in MSME advances.

 Reduction in NPA – Gross NPA reduced by 116 bps y-o-y to 3.32% as on
30.06.2024 whereas Net NPA reduced by 40 bps y-o-y to 0.78% as on
30.06.2024.

 Strong Capital Adequacy Ratio – Capital Adequacy Ratio (CRAR) improved
by 24 bps y-o-y to 17.09 % as on 30.06.2024 wherein Tier I Capital Ratio
improved by 59 bps y-o-y to 14.75% as on 30.06.2024.

 Credit to Deposit Ratio registered an improvement of 636 bps to 72.07% on Financial Results for the quarter ended 30 th June 2024 y-o-y basis.

Business Highlights
 Total Business grew by 11.46% on y-o-y to Rs. 461408 crore as on 30.06.2024 from
Rs.413972 crore as on 30.06.2023.

 Total Deposits increased by 7.39% on y-o-y basis to Rs.268155 crore as on
30.06.2024 from Rs.249694 crore as on 30.06.2023.

 Gross Advances grew 17.64 % on y-o-y to Rs.193253 crore as on 30.06.2024 as
against Rs.164278 crore as on 30.06.2023.

 RAM (Retail, Agri & MSME) business stood at Rs.101986 crore as on 30.06.2024 as
against Rs.85952 crore as on 30.06.2023, registering an improvement of 18.65% on
y-o-y basis.

 Retail Advances stood at Rs.42985 crore as on 30.06.2024 as against Rs.35280
crore as on 30.06.2023 registering a growth of 21.84% on y-o-y basis, fuelled by
Home loan and Vehicle loan portfolio which registered a growth of 20.37% and
33.33% respectively on y-o-y basis.

 Agriculture Advances stood at Rs.25950 crore as on 30.06.2024 as against
Rs.21690 crore as on 30.06.2023, showing a growth of 19.64% on y-o-y basis.

 Advances to MSME sector stood at Rs.33051 crore as on 30.06.2024 as against
Rs.28982 crore as on 30.06.2023, registered a growth of 14.04% on y-o-y basis.

 Business per employee improved to Rs.21.65 crore during Q1FY25 as against
Rs.18.89 crore for the same period of preceding year.

 Operating Profit for the quarter ended 30.06.2024 stood at Rs.1321 crore registering
a growth of 9.81% on y-o-y basis as against Rs.1203 crore for the same period of
preceding year.

 Net Profit for the quarter ended 30.06.2024 stood at Rs.551 crore as against Rs.223
crore for the same period in the preceding year, registering a growth of 147.09% y-
oy.

 Net Interest Income (NII) for the quarter ended 30.06.2024 stood at Rs.2254 crore
registering a growth of 12.20% on y-o-y basis as against Rs.2009 crore for the same
period of preceding year.

Asset Quality
 Gross NPA improved to 3.32 % as on 30.06.2024 as against 4.48% as on
30.06.2023, registering an improvement of 116 bps.

 Net NPA improved to 0.78 % as on 30.06.2024 as against 1.18% as on 30.06.2023,
registering an improvement of 40 bps.

 Provision Coverage Ratio improved to 95.76% as on 30.06.2024 as against 94.88%
as on 30.06.2023, registering an improvement of 88 bps.

Capital Adequacy
 Capital Adequacy Ratio (CRAR) improved to 17.09 % as on 30.06.2024 as
compared to 16.85% on 30.06.2023, with Tier 1 ratio of 14.75% as on 30.06.2024 as
against 14.16% as on 30.06.2023, thereby registering an improvement of 24 bps
and 59 bps in CRAR and Tier 1 respectively.

Branch Network
 Bank has a network of 3230 domestic branches and 2 overseas branches each at
Hongkong and Singapore Centre & 1 Representative office in Iran. Out of the total
branches, Bank has 61.73 % i.e. 1994 branches in rural & semi-urban areas. Bank
has 2477 ATMs and 9885 BC Points making the total number of 15595 touch points
as on 30 th June 2024.