“We hope to raise Rs 2000 crore this calendar year. We are raising capital for meeting Sebi requriement and also growth requirement. ” said the bank’s managing director & CEO, A Manimekhalai at a media briefing to announce the bank’s September quarter results. ” With the conclusion of the QIP, the government share holding will come down to 75 percent from 76.98 percent “
Ms Manimekhalai said that the credit growth was subdued in the first quarter and it is expected to pick-up in the December quarter and March quarter. The bank has targeted an advances growth of 10-12 percent and deposit growth of 8-10 percent for the current financial year. “With the festive season now underway, we anticipate exceeding our provided guidance” she said.
The bank has already raised Rs 5000 crore through QIP in August at an issue price was Rs.86.55 per equity share which included a premium of Rs.76.55 per equity share. Its Capital risk weighted adequacy ratio is at 16.69 percent.
The bank reported a net profit of Rs 3511 crore for the quarter ended September 2023, up 90 percent over the same period a year ago. The bank’s gross NPA (%) reduced by 207 bps on YoY basis to 6.38% and Net NPA (%) reduced by 134bps on YoY basis to 1.30% as on 30.09.2023.
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