HomeAbout UsMD & CEO's Message

10th May 2014 
Welcome to our Website

Dear Patrons,

We are glad to inform you at the outset that our bank has been able to put up a very good performance in the financial year 2013-14. We had announced a very robust set of numbers across all key parameters. The total business grew at 10.05 % from Rs. 76,077.83 Crore to Rs. 83,270.95 Crore. Total deposits grew from Rs. 44,262.30 Crore to Rs. 47,491.09 Crore and total Advances grew from Rs. 31,815.53 Crore to Rs. 36,229.85 Crore. We registered a Gross Profit of Rs. 884.34 Crore as against Rs. 848.59 Crore last year. We recorded our highest ever net profit of Rs. 507.50 Crore.  

We have been successful in maintaining a very healthy asset quality. Our Gross NPA has come down to 1.19% and net NPA to 0.78%, which is lower than many of our competitors. The fact is that we have been able to achieve this, inspite of a challenging economic scenario. Our capital adequacy rate is at 12.5%, which is well above the RBI prescribed value. We have been able to maintain a good Net Interest Margin above 3 %.The staff productivity has increased from Rs 10.72 Crore to Rs 10.95 Crore per employee. We have a total employee base of 6795 as of March 31st, 2014. The credit deposit ratio is at 76.29% which indicates our capabilities for growing our asset base consistently. The book value per share has grown from Rs. 22.44 to Rs. 25.06.

We have expanded our presence to 800 branches and 1000 ATMs spread across 26 states and 2 union territories in India. We have been consistently adding 50 branches and 200 ATMs every year, with plan to add 25 branches and 25 extension counters this year. We also plan to open 250 ATMs in the current fiscal. To complement our efforts to reach out to our customers through the brick and mortar model, we have offered all modes of service delivery using internet banking, mobile banking etc. This year we launched an innovative product “M-Passbook”, which gives you an elegant view of your passbook real time on your mobile device. The product is available in all flavours viz. Android, iOS, Windows and Blackberry. We also offered fund transfer facility from mobile to any bank account in India using our M-Pay product. The advantage of this feature is that customer can transfer funds even on non-business day/working hours.

We have won quite a few awards this year including 4 Best Banker Awards from Sunday Standard, instituted by Indian Express Group in addition to the Banking Technology Excellence Award from IBA. But as always, it is the smiling face of our happy customers that we cherish the most. We have been able to retain our customers by personalizing our service and fine tuning it to meet the unique requirements of each customer. We strongly believe that each one of our customers would recommend our products and services to others.

We would like to reiterate to all out stakeholders that our efforts in growing this great organization to greater heights shall continue. We have a target of 1,00,000 Crore of total business for this fiscal. We are confident that we would be able to reach there as planned. We look forward to the support and patronage from our customers, shareholders and well wishers.

Wishing a great new fiscal!


MD & CEO