Major Highlights of Q4FY20 and FY20

Growth in deposits continue to drive loan growth

Deposit book remains resilient and grew by 17% YOY and 8% QOQ, Loan book grew by 15%
On QAB basis, CASA + RTD constituting 80%, grew 22% YOY, RTD grew 33%
On QAB basis, SA grew by 13% YOY & 3% QOQ, CA grew by 11% YOY vs period end growth of 1%

Strong operating performance

NII for Q4 & FY20 was up 19% and 16% YOY respectively; NIM was 3.55% for Q4 and 3.51% for FY20
Operating profit for Q4FY20 was `5,851 crores, grew 17% YOY
Operating profit for FY20 stood at `23,438 crores, grew 23% YOY, with an Operating Profit Margin of 2.83%

Well capitalised with adequate liquidity buffers

Overall capital adequacy stood at 17.53% with healthy CET 1 ratio of 13.34% as at the end of FY20
Focus remains on conserving capital in short term, RWA to total assets declined from 79% to 67% over last 4 yrs
Liquidity Coverage Ratio currently at a level of 120% with excess SLR of `48,463 crores

Retail book is well diversified, largely secured with high share of ETB & salaried customers

Retail loans grew 24%; Retail fee comprises 64% of the overall fees
80% of Retail book is secured, home loans constitute 35% with average LTV's of 60%
20% of Retail book is unsecured, over 80% is to ETB customers of which 80% are salaried

Strong Relationship led Wholesale Franchise

Our top corporate relationships on an average, now avail 9 products across the One Axis platform
Corporate Loans grew by 11% YOY, driven by AAA & AA rated clients, 38% of loans are short term in nature
83% of the book and 95% of incremental sanctions are to A- and above

Asset Quality

NPA + BB loan book declined from 3.4% of customer assets to 2.7% YOY; Coverage ratio improved from 60% to 69% QOQ
GNPA impact of 11 bps as on 31 March 2020 on account of asset classification benefit as per RBI guidelines of April 17, 2020
Additional provisions made as per RBI circular of June 7, 2019 without reckoning dispensation of extended resolution period
Covid-19 impact on credit quality unknown; have tested robustness of our underwriting models and are comfortable
Cumulative additional provisions including standard asset provisions translate to standard asset coverage of 1.3%

Key Metrics for FY20

Snapshot (As on March 31^st, 2020) (in ` Crores)

Profit & Loss	Absolute (in ` Crs)		YOY Growth
	Q4FY20	FY20	Q4FY20	FY20
Net Interest Income	6,808	25,206	19%	16%
Fee Income	2,931	11,019	(3%)	9%
Operating Expenses	4,942	17,305	17%	9%
Operating Profit	5,851	23,438	17%	23%
Profit Before Tax	(1,879)	4,904	-	(30%)
Net Profit / (Loss)	(1,388)	1,627	-	(65%)

Balance Sheet	Absolute (in ` Crs)	YOY Growth
	FY20
Total Assets	915,165	14%
Net Advances	571,424	15%
Total Deposits	640,105	17%
Shareholders' Funds	84,948	27%

Key Ratios	Absolute (in ` Crs)	YOY Growth
	FY20	FY19
Diluted EPS* (in `) (Q4/12M)	(19.79) / 5.97	23.61 /18.09
Book Value per share (in `)	301	259
ROA (in %) (Q4*/12M)	(0.62) / 0.2	0.78 / 0.63
ROE (in %) (Q4*/12M)	(7.08) / 2.34	10.30 / 8.09
Gross NPA Ratio	4.86%	5.26%
Net NPA Ratio	1.56%	2.06%
Basel III Tier I CAR	14.49%	12.54%
Basel III Total CAR	17.53%	15.84%

^* Annualised

Deposits^# 19% YOY

CASA+RTD^#

22%YOY (QAB)

17%YOY (End Balance)

^#QAB - Quarterly Average Balance

Domestic Advances 15% YOY

Retail Advances**

24% YOY

** As proportion of Total Advances

Operating Profit (` in crores)

FY20

23,438

FY19

19,005

23% YOY

Profit After Tax (` in crores)

FY20

1,627*

FY19

4,677

65% YOY

* PAT adjusted for one-time DTA impact, lower tax rate and prudent Covid risk provisioning would be `5,182 crores

Domestic Branch Network*

March-20

4,528

March-19

4,050

March-18

3,703

March-17

3,304

March-16

2,904

March-15

2,589

* Includes extension counters

Major Highlights of Q4FY20 and FY20

Results at a Glance

Strong operating performance:

Operating profit for Q4FY20 grew by 17% YOY to `5,851 crores
Net Interest Income in Q4FY20 grew by 19% YOY to `6,808 crores; NIM was 3.55%
Operating profit for FY20 grew by 23% YOY to `23,438 crores
Net Interest Income in FY20 grew by 16% YOY to `25,206 crores; NIM for FY20 was 3.51%
Net profit for FY20 was `1,627 crores. Adjusted for the one-offs, net profit for FY20 would have been `5,182 crores up 11% YoY

Growth in Deposits continues to drive Loan growth:

Total deposits grew 19% YOY on Quarterly Average Basis (QAB)
Savings Account deposits grew 13% YOY, Current Account deposits grew by 11% YOY and Retail Term
Deposits (RTD) were up 33% YOY on QAB basis. CASA ratio was 39% on QAB basis
The Bank added 478 branches to its domestic network in FY20
Loan book grew by 15% YOY with Retail loans up 24% YOY and Corporate loans up 11% YOY

Well capitalized with adequate liquidity buffers:

Overall capital adequacy at 17.53% with Common Equity Tier 1 ratio of 13.34% at the end of FY20
Liquidity Coverage Ratio, currently at 120%, with excess SLR of `48,463 crores

Business segments' performance:

Retail loans accounted for 53% of total loans; Retail fee constituted 64% of total fees
80% of Retail book is secured, home loans constitute 35%
Over 80% of the unsecured loans are to ETB customers and over 80% are to salaried
In Corporate segment, 83% of the book and 95% of incremental sanctions are to A- and above;

Asset quality metrics improving, additional provisions held of `5,983 crores:

NNPA declined to 1.56%, from 2.09% on QOQ basis
GNPA impact of 11 bps on account of April 17 2020, dispensation not availed for June 7, 2019
During the quarter, the Bank has made provisions of `7,730 crores including `3,000 crores related to COVID; taking the overall additional provisions held by the Bank to `5,983 crores. The overall additional provisions held by the Bank towards various contingencies together with the standard asset provisions, translate to a standard asset coverage of 1.3% at March 31, 2020.
Overall PCR* improved to 69% as at end of Q4FY20, compared to 60% for Q3FY20 and 62% for Q4FY19

Among the top players in the digital space:

Mobile banking spends grew 44% YOY
Market share in UPI transactions stood at 15% for Q4FY20; quarterly transactions up 135% YOY
Share of digital channels in sourcing fixed deposits and personal loan disbursements stood at 66% and 48%, respectively in Q4FY20

* PCR excluding technical write-offs