Consistent Growth in a challenging environment,
Net Profit stood at `28.16 Crs, up by 11.08%, Y-o-Y
Ø Net Profit for the first quarter ended June 2014 at `28.16 Crs is ahead of `25.35 Crs for the corresponding quarter of the previous financial year and has grown by 33.88%.
Ø Total interest income for the quarter ended June 2014 grew by 10.98%, to `530.39 Crs against `477.92 Crs in the corresponding period of previous financial year.
Ø Total Income of the Bank for Q1 of FY15 at `587.13 Crs is up from `532.45 Crs for Q1 of the previous year with a growth of 10.27% (Y-o-Y).
Ø Percentage of Gross and Net NPA as on 30th June 2014 stood at 3.96% and 3.19% respectively against 5.27% and 3.74% respectively as at 30th June 2013.
Ø Interest Income on investment increased from `89.78 Crs to `117.13 Crs ,registering y-o-y growth of 30.46%
The Bank has a national presence serving over 2 million customers through its 361 branches, spread across 15 States and 1 Union Territory, and total ATM network of 636 as of 30th June 2014. The Bank continues to invest on increasing its network for improved reach and customer service.
The limited, reviewed unaudited financial results for the first quarter of the current fiscal were taken on record by the Board in its meeting held on 16.07.2014 at Chennai.
The Board of Directors of the Bank at the meeting held today, have approved the Rights Issue of equity shares at Rs.50/- per Rights Equity share (including premium of Rs.40/- per right equity share) in the ratio of 5 Equity shares for every 6 Equity shares