The quarter's net interest margin increased from 3.41% to 3.45%. Binod Kumar, the bank's new managing director, stated that the increase in profitability was a result of both a good recovery and higher net interest income. This position was taken up by Kumar earlier this month.
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At 4749 crore as opposed to Rs 4097 crore, the bank's operational profit was 16% higher year over year. Compared to Rs 5815 crore, net interest income increased by 10% to Rs 6415 crore. At Rs 1059 crore as opposed to Rs 1349 crore, the total provisions were less.
In keeping with the improvement in asset quality, provisions to cover bad loans totaled Rs 611 crore out of this, compared to Rs 906 crore.
At the end of December, its gross non-performing assets ratio dropped from 4.47% to 3.26%. Compared to 0.53%, net NPA was 0.21%. The provision coverage ratio increased to 90.09%, a 219 basis point improvement.
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