The bank’s asset quality improved, with gross non-performing assets ratio falling to 3.34% as June 30 from 4.72% a year ago.
It made Rs 23 crore provisions to cover loan default risk while the bank received a provision write-back of Rs 336 crore. This led to a rise in total provisions and contingencies at Rs 217 crore, against Rs 103 crore.
Pre-provision operating profit soared 70% at Rs 540 crore as compared with Rs 317 crore in the year-ago period, owing to 142% jump in non-interest income at Rs 469 crore. Treasury earnings for the quarter stood at Rs 334 crore, up 74% from Rs 192 crore seen in the corresponding period last year.
Net interest income grew a modest 6% year-on-year at Rs 900 crore.
The bank’s total advances grew 14% year-on-year to Rs 87,738 crore at the end of June. Total deposit rose 8.8% to Rs 1.21 lakh crore.