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The bank also reported recoveries and upgrades of Rs 1, crore in December , up from Rs crore a year ago. Spend up to Rs 60,, pay next month Instagram accidentally rolls out major change in app, pulls it back Xiaomi Redmi Note 6 Pro with powerful Snapdragon accidently leaks on Flipkart Facing call drops?
Following are the highlights of the Decemberquarter results: Fall in other income: Also, unlike last year, the lender could not book exchange-rate gains relating to overseas operations because Reserve Bank of India disallowed such recognition in the profit and loss account. Decline in NPA additions: The bank added Rs 4, crore to its NPA pool, lower than the Rs 4, crore added in the quarter ended September and Rs 7, crore added in the December quarter.
This was the slowest addition to NPAs in the last nine quarters. As a result, gross NPAs declined to 7. The bank also reported recoveries and upgrades of Rs 1, crore in December , up from Rs crore a year ago. The biggest surprise was the fact that the bank did not have to disclose the divergence in NPAs after the RBI inspection because it was below 15 per cent, which meant that NPAs were curtailed.
However, this time demand from companies was also strong, with corporates borrowing for working capital needs on improved capacity utilisation. Retail loans expanded at 22 per cent, while corporate loans rose 15 per cent.
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