This private sector bank, always the first to announce quarter numbers, did not disappoint. As expected it posted a much better performance for Q3FY13. Its loan book showed a 31% rise, which is almost twice that of the entire banking sector and this helped the bank post a 30% (YoY) rise in net profit at Rs.267 crore.  Loans grew on the bank of demand from vehicle loans, loan against property and working caital loan from companies. In fact 51% of the loans were for automobile loans and equipment loans.  At the same time, Rs.100 crore loan given to Deccan Chronicle turned bad and for this, the company has provided Rs.44 crore during the quarter. Thus its total provisions were up sharply from Rs.43 crore to Rs.79 crore. The bank has offloaded Rs.63 crore of this bad loan to an asset reconstruction company and the balance has been written off.

In Q2, the stock has tumbled after the company posted a muted growth in NIM at 3.25% but this time around in Q3, things look good on the NIM front at 3.46%. NII was up 34%. Its net NPA was at 0.30%, marginally up from 0.29% (YoY). Provision coverage ratio is at 70.30% v/s 72.09% (YoY). CASA was at 28.67%, up from 27.98% in Q2FY13. At the end of current Q3, its total branch network was at 461, up from 441 in Q2.