indian bank share price Directors report

To The Members,

Your Directors have immense pleasure in presenting the Banks Annual Report along with the Audited Statement of Accounts and the Cash Flow statement for the year ended 31st March 2023.


The major highlights of your Banks performance during FY23 are as follows:

A. Resource mobilization & Advances:

(Amount Rs in Cr)

Particulars 31.03.22 31.03.23 YoY (%)
Domestic Deposits 584661 608027 4.00
Of which Current 35969 35366 -1.68
Savings 211120 224873 6.51
CASA 247089 260239 5.32
CASA Mix (%) 42.26 42.80 54 bps
Overseas Deposits 8957 13139 46.68
Global Deposits 593618 621166 4.64
Domestic Advances (Gross) 395698 443921 12.19
Overseas Advances (Gross) 19927 29665 48.87
Total Advances (Gross) 415625 473586 13.95
Total Business 1009242 1094752 8.47
Total Assets 671668 710501 5.78

1. Global Deposits grew by 4.64% YoY and stood at Rs 6,21,166 Cr in March 2023.

2. Domestic CASA increased to Rs2,60,239 Cr registering a growth of 5.32% YoY. In order to augment the CASA portfolio, Bank has mobilised 38,98,084 new CASA accounts (excluding BSBD Savings account) during FY23.

3. Gross Advances of the Bank (Global) grew by 13.95% YoY and stood at Rs4,73,586 Cr as on March 31, 2023 from Rs4,15,625 Cr as March 31, 2022.

4. Priority Sector Advances were at Rs1,52,992 Cr as on March 31, 2023. Priority sector as a percentage to Adjusted Net Bank Credit (ANBC) for FY23 stood at 44.26% as against the mandatory target of 40%.

5. Agriculture Credit (Priority Sector) was at Rs66,607 Cr and as a percentage to ANBC the same stood at 19.27% as against the mandatory target of 18%.

6. All mandatory targets stipulated by RBI have been surpassed during FY23.

7. Gross NPA and Net NPA reduced to Rs28,180 Cr (5.95%) and Rs4,043 Cr (0.90%) respectively as on March 31, 2023 as against Rs35,214 Cr (8.47%) and Rs8,849 Cr (2.27%) respectively in March 31, 2022.

8. Total recovery of NPAs (including recovery in AUC accounts and MoI) during FY23 amounted to Rs7,358 Cr as against Rs5,542 Cr in the previous year.

9. Recovery in bad debts amounted to Rs2,177 Cr during FY23 as against Rs1,612 Cr in during FY22.

10. Provision Coverage Ratio (PCR) of the Bank improved by 644 bps to 93.82% in FY23 as against 87.38% in FY22.

11. As on 31st March 2023, Bank has a network of 5,787 domestic branches, 3 overseas branches and 1 IFSC Banking unit (GIFT City), taking the total branch network to 5,791.

12. Total number of Banks ATMs and BNAs stood at 4929 which include 591 offsite ATMs/BNAs and 2 mobile ATMs.

13. 2914 Passbook Kiosks have been installed by Bank as on 31st March 2023.


(Amount Rs in Cr)

Particulars 31.03.22 31.03.23 YoY (%)
Interest Earned 38856 44942 15.66
Interest Expended 22128 24717 11.70
Net Interest Income (NII) 16728 20225 20.91
Other Income 6915 7143 3.30
Of which - Fee Income 2555 2969 16.20
Profit on sale of Investments 1626 381 -76.57
Recovery of bad debts 1612 2177 35.05

(Amount Rs in Cr)

Particulars 31.03.22 31.03.23 YoY (%)
Operating Revenue (NII + Other income) 23643 27369 15.75
Operating Expenses 10926 12098 10.72
Of which - Employee Expenses 6695 7527 12.41
Other operating Expenses 4231 4571 8.01
Operating Profit 12717 15271 20.08
Provisions 8772 9989 13.87
Of which - Provisions for NPA (inclusive of NPI) 8557 6921 -19.11
Provision for Standard advances 962 2295 139
Provision for Tax (741) 633 -
Net profit 3945 5282 33.89

As on March 31, 2023,

1. Total income of the Bank increased by 13.79% and stood at Rs52,085 Cr, with Interest Income at Rs44,942 Cr and other Income at Rs7,143 Cr.

2. Banks total expenditure inceased by 11.37% and stood at Rs36,185 Cr with Interest Expenditure at Rs24,717 Cr and Operating expenses at Rs12,098 Cr.

3. Banks Operating Profit and Net Profit witnessed an increase of 20% and 34% respectively and stood at Rs15,271 Cr and Rs5,282 Cr respectively. (For FY22 the same were at Rs12,717 Cr and Rs3,945 Cr respectively).

C. Key Ratios for Mar23 are as under: (in %)

Parameters 31.03.22 31.03.23
Yield on Advances 7.21 7.76
Cost of Deposits 3.97 4.09
Return on Assets 0.63 0.77
Return on Equity 12.13 14.73
Net Interest Margin 2.93 3.37
Cost Income ratio 46.21 44.20
Average Business per employee (Rs in lakh) 2252 2355
Profit per employee ( Rs in lakh) 9.91 12.95


1. Networth of the Bank stood at Rs37,431 Cr as on March 31, 2023 as against Rs33,625 Cr in March 31, 2022.

2. As per Basel III norms, the Capital to Risk weighted Assets Ratio (CRAR) was at 16.49% as on March 31, 2023, compared to 16.53% in March 31, 2022 and as against the regulatory requirement of 11.50%. The CET- I ratio was at 12.89% as against 12.53% in March 31, 2022 and the minimum requirement of 8.00%. The CRAR of Tier I capital was at 13.48% as of March 31, 2023.

(in %)
As on
BASEL III 31.03.2022 31.03.2023
CET- I 12.53 12.89
Tier- I Capital 13.17 13.48
Tier-II Capital 3.36 3.01
Total 16.53 16.49


As per Government guidelines, pre-recruitment and pre-promotion trainings were offered to SC/ST employees during the process of direct recruitment and internal promotions.


All the Directors have been appointed/nominated by the Govt. of India (GOI) except Shareholder Directors.

Shri Sanjeev Kaushik was GoI Nominee Director of the Bank upto 13.09.2022. Government of India, Ministry of Finance, Department of Financial Services, vide notification dated 14.09.2022 nominated Dr. M P Tangirala as GoI Nominee Director of the Bank in place of Shri Sanjeev Kaushik.

Shri Mahesh Kumar Bajaj was appointed as Executive Director of the Bank vide Government of India, Ministry of Finance, Department of Financial Services, notification dated 21.11.2022.


The Directors confirm that in the preparation of the annual accounts for the year ended March 31, 2023:

1. The applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

2. The accounting policies framed in accordance with the guidelines of the Reserve Bank of India, were consistently applied;

3. Reasonable and prudent judgment and estimates were made so as to give a true and fair view on the state of affairs of the Bank at the end of the financial year and profit of the Bank for the year ended March 31, 2023.

4. Proper and sufficient care were taken for the maintenance of adequate accounting records in accordance with the provisions of applicable laws governing banks in India; and

5. The accounts have been prepared on a going concern basis.


The Board expresses its deep sense of gratitude to the Government of India, State Governments, Reserve Bank of India and Securities & Exchange Board of India for the valuable guidance and support received from them. The Board also thanks the financial institutions and correspondent Banks for their co-operation and support. The Board acknowledges the unstinted support of its customers and shareholders. The Board places on record its appreciation for the valuable contribution made by Shri. Sanjeev Kaushik who ceased to be member during the year. The Board also places on record its appreciation for the dedicated services and contribution made by members of staff for the overall performance of the Bank.

For and on behalf of Board of Directors