Provisions, predominantly for bad loans, surged 97.09 per cent to Rs 1,476.19 crore from Rs 748.99 crore a year ago.

The provisions for the September quarter consisted of specific loan loss provisions of Rs 1,078.8 crore and general and other provisions of Rs 397.4 crore. This was against specific loan loss provisions of Rs 640.7 crore and general and other provisions of Rs 108.3 crore in the previous year’s September quarter.

Asset quality took a hit as gross non performing assets (NPA) ratio and net NPA ratio stood at 1.26 per cent and 0.43 per cent, respectively as on September 2017, against 1.02 per cent and 0.3 per cent, respectively as on September 2016.

Net interest income for the quarter rose by 22 per cent to Rs 9,752 crore from Rs 7,993 crore in the corresponding period of the previous year. Other income, which includes fees and commissions, was up 24.3 per cent to Rs 3,605 crore.

While cost-to-income ratio improved to 42.6 per cent, operating expenses in absolute terms increased to Rs 5,540 crore for the July–September quarter.

Total deposits for the quarter rose by 16.5 per cent to Rs 6,89,346 crore with current and savings accounts growing by 23.6 per cent over the previous year to reach Rs 1,97,655 crore and Rs 97,825 crore respectively. Total advances grew by 22.3 per cent to Rs 6,04,867 crore as on September 30, 2017. The loan mix between retail and wholesale was 55 per cent and 45 per cent, respectively.

The bank’s total Capital Adequacy Ratio (CAR) was at 15.1 per cent and Tier-I CAR stood at 13.3 per cent as on September 30, 2017.