“It will be done in piecemeal manner and we are looking at QIP between Rs 500 and Rs 1,000 crore in the current quarter,” he said, adding, going forward other means would be explored for dilution of the government’s stake.
Currently, he said, the government of India holds 90.97 per cent in the bank and the holding is expected to come down to around 85 per cent following share sale.
As per the Sebi norms, listed entities are required to have at least 25 per cent public shareholding.
The bank is comfortable as far as capital requirement is concerned, he said, adding, the capital adequacy ratio would take care of loan growth of 20 per cent for the next two years.
On the deposit side, he said, the bank is expecting about 12 per cent growth during the current financial year.
Talking about the quarterly numbers, Rajeev said the bank has posted a 138.76 per cent jump in net profit at Rs 775 crore in the third quarter as against Rs 325 crore in the same period a year ago. Net Interest Income (NII) grew by 29.65 per cent on a year-on-year basis to Rs 1,980 crore as against Rs 1,527 crore for Q3 FY22, he said.
Total business (total advance and deposits) grew by 15.77 per cent to Rs 365,398 crore.
The bank’s total income increased to Rs 4,770 crore in the latest December quarter from Rs 3,893 crore in the year-ago period, BoM said in a regulatory filing.
On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 2.94 per cent, as compared to 4.73 per cent at the end of third quarter of previous fiscal.
At the same time, net NPAs eased below 1 per cent to 0.47 per cent, as against 1.24 per cent in the same period a year ago.
The capital adequacy ratio rose to 17.53 per cent in the December quarter as against 14.85 per cent.
