Net interest income was up 9% at Rs 2,653 crore, while other income rose 20% at Rs 1,100 crore. Operating profit was 10% higher at Rs 1,729 crore.
The Ernakulam-headquartered lender said NII and operating profit for the quarter hit a record high.
“Our focus will continue to be on consistency and quality of earnings, rather than overall growth. We believe this approach positions the bank well to deliver sustainable performance across market cycles,” said Managing Director KVS Manian.
The bank’s gross non-performing asset ratio fell to 1.72% at the end of September from 1.95% a year ago. The net NPA ratio stood at 0.42% compared to 0.49%.
Advances rose 11% year-on-year to Rs 2.56 lakh crore, led by 9% expansion in corporate and institutional banking portfolio to Rs 94866 crore. The retail portfolio grew by a modest 1% to Rs 69,186 crore. The bank’s deposits rose 12% year-on-year to Rs 2.98 lakh crore, while the share of current and savings account deposits rose 191 basis points to 32.07%.
The bank’s share price rose 9.5% to Rs 270.35 on BSE, reacting to the quarterly results announced during market hours.
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