This private sector bank posted a good set of numbers for Q2FY15, with a good rise in net profit and stable asset quality.  Banking on a good spurt in NII and other income, the bank posted a net profit at Rs.1611 crore, up 18% while NII rose 20% at Rs,3525 crore.  Other income (comprising fee, trading profit and miscellaneous income) for Q2FY15 grew 10% (YoY) and was at Rs.1948 crore. Fee income rose 11% and the key contributor to the other income basket, Retail Banking rose 24%.

In terms of asset quality, net NPA during the quarter was flat at 0.44% and so was Gross NPA at 1.34% (QoQ). The Bank held provision coverage of 78% as on 30th September 2014, as a proportion of Gross NPAs, including prudential write-offs. The provision coverage before accumulated write-offs was 87%. Total restructured assets stood at Rs.6690, up 6% sequentially, which constituted 2.52% of net customer assets. Recoveries and upgrades were at Rs.164 crores and write-offs were Rs.597 crore. Its Savings Bank deposits grew 20%  (YoY) and Retail Term deposits grew 43%. CASA and Retail Term deposits constituted 79% of total deposits.  Bank is well capitalised with a healthy Capital Adequacy Ratio (CAR). Under Basel III, Total CAR & Tier I CAR (including the net profit for H1FY15) stood at 15.90% & 12.57% respectively.

During Q2FY15, the Bank added 84 branches to its network across the country and at the end of 30th September 2014, it had a network of 2,505 domestic branch.