Like always, the second largest private sector bank of India, posted a ‘dependable’ performance, in fact exceeding most estimation. Net profit for Q4FY13 was up 30% (YoY) at Rs.1890, mainly on the back of higher interest income and lower provisions. More importantly,  this was for 54^th consecutive quarter that the bank had maintained a growth rate of 30% in net profit. NII was up 21% at Rs.4295 crore and NIM, which is an indicator of any bank’s profitability came in at 4.5% v/s 4.4% in Q4FY12 and 4.3% in Q3FY13, the highest in the sector.  For FY13, net profit was up 31% at Rs.6870 crore.  Net advances grew by 22.7% to Rs 239,721 crore aided by higher demand for retail loans. Total deposits were at Rs 296,247 crore, up 20.1% over last year.

Asset quality is comfortable which is indicated by the lowering of provisions at Rs.300 crore, down from Rs.412 crore in Q4FY12. Gross NPA improved from 0.92% to 0.97%  and net NPA remained unchanged at 0.2%. Total restructured loans were 0.2% of gross advances as against 0.4% as of March 31, 2012. The share of current and savings account (CASA) improved from 45.4% to 47.4% as on March 31, 2012-13.  At end of Fy13, CAR was at 16.8%.  As of March 31, 2013, the Bank’s distribution network was at 3,062 branches and 10,743 ATMs in 1,845 cities / towns as against 2,544 branches and 8,913 ATMs as of March 31, 2012. The increase of 518 branches during the year includes 193 micro branches which are primarily two member branches to expand and deepen the penetration in rural markets including in unbanked areas.