The first private sector bank to announce its Q2FY15 posted a good set of numbers. On the back of robust growth in Net Interest Income (NII), other income and lower provisions, the Bank posted a 30% (YoY) rise in net profit at Rs.430 crore. Core fee income rose 31% while non interest income was up 34%. NII for the quarter grew 19% compared to a growth of 18% in Q1. NIM came in at 3.63% which was slightly lower than 3.66% in Q1FY15.

In terms of asset quality, Net NPA was a status quo at 0.33%, same as that in Q1. And Gross NPA fell marginally from 1.11% to 1.08% (QoQ). Provision coverage ratio rose a bit sequentially from 70.12% in Q1 to 70.21%. In terms of provisions, it came down from Rs.110 crore to Rs.73 crore. YoY, it has come down from Rs.89 crore.

Total Advances as on September 30, 2014 were at Rs.59,931 crore as compared to Rs. 48,968 crore in the corresponding period of the previous year, recording a growth of 22%. Total deposits as on September 30, 2014 were at Rs. 65,996 crore as compared to Rs. 53,058 crore in the corresponding period of the previous year, up by 24%. CASA (Current Accounts-Savings Accounts) ratio improved to 33.89 % against 31.76% (YoY). Capital Adequacy Ratio as per BASEL III Capital regulations as on September 30, 2014 was 12.96 %.