Sukthankar said in signs of a recovery the incremental NPA formation has decelerated. He added that it cannot be said yet say whether bad assets have peaked or not.
During the quarter, it clocked an advances growth of 21.8 per cent and 16.9 per cent in the deposits, excluding the deposits raised overseas and deployed. Sukthankar said after many quarters, the demand from the wholesale outpaced retail and the composition between the two now stands at 53:47 in favour of wholesale.
The share of low-cost Casa deposits stood at 44.8 percent as of end March. He, however, said there has not been any “meaningful” increase in the greenfield capex demand from corporates. The capital adequacy ratio stood at 16.1 per cent, with the core tier-I at 11.8 per cent.
When asked if the entry of new banks may put some pressure on the HR front, Sukthankar said the bank is not facing any such pressure right now.
He also spurned market speculation that the bank is interested in buying out a merchant banking player, saying it is not looking at inorganic growth opportunities at present.
The board recommended a dividend of Rs 6.85 per equity share of Rs 2 for the year as against Rs 5.5 per share for the previous year.
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