The Board is pleased to present Directors Report of the Bank along with the Audited Balance Sheet as at 31st March, 2018 and the Profit & Loss Account Statement for the Financial Year ended 31st March, 2018.
Financial Performance
The snapshot of your Banks financial performance is as below: ( in crore)
| Particulars | 31.03.2017 |
31.03.2018 |
Variation (%) |
| Total Deposits | 2,60,561 |
2,72,776 |
4.69 |
| Of which-Domestic Deposits | 2,34,543 |
2,41,092 |
2.79 |
| Overseas Deposits | 26,018 |
31,684 |
21.78 |
| Domestic Deposits | 2,34,543 |
2,41,092 |
2.79 |
| Of which-Current Account Deposits | 11,535 |
12,016 |
4.17 |
| Savings Deposits | 64,257 |
68,346 |
6.36 |
| CASA Deposits (Domestic) | 75,792 |
80,362 |
6.03 |
| Domestic CASA to Domestic | |||
| Deposits (%) | 32.32 |
33.33 |
|
| Advances | 2,07,065 |
2,23,346 |
7.86 |
| Of which-Domestic Advances | 1,71,377 |
1,81,477 |
5.89 |
| Overseas Advances | 35,688 |
41,869 |
17.32 |
| Total Assets | 3,23,977 |
2,99,073 |
-7.69 |
| Net Interest Income (NII) | 6,276 |
6,552 |
4.40 |
| Other Income | 3,457 |
2,806 |
-18.83 |
| Of which-Fee Income | 757 |
710 |
-6.21 |
| Profit on sale of Investment | 1,740 |
946 |
-45.63 |
| Recovery from Prudential written off | |||
| accounts | 376 |
488 |
29.79 |
| NII+ Other Income | 9,733 |
9,358 |
-3.85 |
| Operating Expenses | 5,500 |
5,494 |
-0.11 |
| Operating Profit | 4,233 |
3,864 |
-8.72 |
| Provisions | 3581 |
8253 |
130.47 |
| Of which; Provisions for NPAs & Bad debts written off | 3,694 |
7,707 |
108.64 |
| Profit Before Tax | 652 |
-4,389 |
- |
| Provision for Tax | 293 |
-1,166 |
- |
| Net Profit | 359 |
-3,223 |
- |
| Appropriations/Transfers | |||
| Statutory Reserve | 90 |
0 |
|
| Capital Reserve | 96 |
62 |
|
| Revenue and other Reserves | - |
- |
|
| (i) General Reserve | 0 |
-3,285 |
|
| (ii) Special Reserve u/s 36(l)(viii) of the Income Tax Act 1961 | 173 |
0 |
|
| (iii) Investment Reserve Account | 0 |
0 |
|
| (iv) Transfer from Excess Appropriation of previous year | 0 |
0 |
|
| Key Performance Indicators | |||
| Average Cost of Funds | 5.53 |
4.94 |
|
| Average Yield on Funds(%) | 7.60 |
7.06 |
|
| Average Earning Assets | 2,65,325 |
2,68,375 |
|
| Net Interest Margin (%) | 2.37 |
2.44 |
|
| Cost-Income Ratio (%) | 56.51 |
58.71 |
|
| Return on Assets (ROA) (%) | 0.12 |
-1.05 |
|
| Return on Equity (%) | 3.02 |
-26.68 |
|
| Book Value per share () inclusive of revaluation reserve, FCTR& Net DTA | 154.64 |
105.43 |
|
| EPS () | 4.21 |
-34.00 |
*Face value of the share 10/-
The financial year 2017-18 had been a mix of opportunities and challenges. Despite the challenges, your Bank performed well during the year leveraging various market opportunities.
The total business of your Bank increased from 4,67,626 crore as of March 31, 2017 to 4,96,122 crore, as of March 31, 2018 posting a growth of 6.09% over the previous year. The net interest income (NII) of the bank increased by 4.40% to 6,552 crore as of March 31, 2018, while other income decreased by 18.83% to 2,806 crore.
Your Bank posted an operating profit of 3,864 crore during FY 2017-18, registering a decline of 8.72%. The provision cost (other than taxes) increased by 130.47% to 8,253 crore compared to 3,581 crore last year.
For the year ended March 31, 2018, the return on average assets was -1.05% while return on equity was -26.68%. The earnings per share (FV 10/-) were -34.00.
Capital Adequacy Ratio (CAR) (in %)
31.03.2017 |
31.03.2018 |
|
| Capital Adequacy-Basel III | 12.03 |
12.24 |
| CET-I | 7.50 |
7.56 |
| Tier-I | 9.26 |
9.41 |
| Tier-II | 2.77 |
2.83 |
Capital Adequacy Ratio at 12.24% under Basel III was well above the regulatory requirements as of March 31, 2018. Tier1 ratio was at 9.41% and common equity Tier 1 (CET-1) was at 7.56% under Basel III framework. Bank raised 450 crore of debt capital by way of AT-1 bonds, 500 crore of debt capital by way of Tier II bonds and equity capital through QIP of 1,150.80 crore followed by Government of India infusion of 2,839 crore in the month of March 2018. Banks Net Worth as of March 31, 2018 was 11,771 crore comprising paid-up equity capital of 1,417 crore and reserves (excluding revaluation reserves, FCTR & Net of Intangible assets) of 10,354 crore. The book value of share (FV 10/-) was 105.43.
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