In the road infrastructure loan account in Mumbai, which became NPA in the first quarter of this financial year, the company continued to disburse and the principal decreased from Rs 2.1 billion to Rs 760 million over the year. of the quarter. March 30, 2022

Net interest income increased by 32% to 3.02 billion rupees and fees, charges, and other income increased by 44% to 945 million rupees in September FY23.

Total revenue for the three months to September fell from SEK 488,029 during the same period in 2021-22 to SEK 653,103.

Asset quality, including gross non-performing assets (NPA), fell from 4.27% a year ago to 3.18% at the end of September 2022.

Net NPA also decreased from 2.19% to 1.09%.

Also Read: RBL Bank Profits Rise to Rs 20.2 Billion from July to September

The bank announced that its quarterly reserves reached 424 million dinars. This is 11% less than the same period last year.” Banks are continually improving asset quality,” he said. According to reports, we are there.

• On Friday, the Dow Jones average rose more than 700 points and Wall Street had its best week since June.
• Stocks to watch: Find out which companies are making headlines before the first bell rings.
• 37% increase in ICICI Bank second-quarter net income, improving asset quality

In the road infrastructure loan account in Mumbai, which became NPA in the first quarter of this financial year, the company continued to disburse and the principal decreased from Rs 2.1 billion to Rs 760 million over the year. of the quarter. March 30, 2022

Vaidyanathan, Chairman and CEO of IDFC First Bank, said:

He believes that banks will continue this evolution as new business areas such as cash management, wealth management, FASTag, and credit limits.

Regarding asset quality, during the recession from 2010 to 2014, we maintained gross and net NPAs at about 2% and 1%, respectively.

Continuing to build on the incredibly solid foundation we have created with the bank, Vaidyanathan stated that “we are making progress in terms of growth.

GoSats plans to make 1 million bitcoins by the end of the 2022 fiscal year.

India’s first Bitcoin rewards platform. boats have partnered with 250 brands including India’s most famous e-commerce players such as Flipkart, Swiggy, Myntra, BigBasket, and Uber.

GoSats, India’s first and only Bitcoin incentive platform, aims to generate 1 million Bitcoin fans by the end of the fiscal year 2022. Since its inception, the startup has managed to build a Bitcoin community of over 150,000 in the country, up to 30%. every month

Founded in 2021 by siblings Mohammad Roshan and Roshni Aslam, GoSats helps people earn free bitcoins for transactions like purchases and payments. GoSats also recently launched a prepaid debit card that can be used to securely earn Bitcoin rewards for all offline and online transactions in India.

boats have now partnered with 250 brands including some of India’s most famous e-commerce players such as Flipkart, Swiggy, Myntra, BigBasket, and Uber. GoSats users typically receive 6%-8% Bitcoin rewards when purchasing from partner brands, but non-partner brands reward users with 1.5%-2% Bitcoin rewards using the GoSats.provide the prepaid card.

GoSats CEO and co-founder Mohammad Roshan said: We are proud of this growth and want to continue our mission to be the easiest way for Indians to access digital currency. We also want to make sure that people are aware of the fact that cryptocurrencies are more than just exchanges; they also improve people’s life by allowing them to receive Bitcoin rewards for transactions. GoSats plans to expand its rewards program exponentially this year, bringing the benefits of Bitcoin to 1 million Bitcoin users in India. GoSats recently raised $4 million in a pre-series A funding round from investors including well-known companies such as YCombinator, Accel, and Gossamer Capital.

We have interesting plans for the future. We are expanding our loyalty card program, creating an infrastructure that allows users to earn free Bitcoins wherever they buy, allowing users to exchange their Bitcoin deposits for attractive income, branding, NFT, and try to earn by spending income on it. in the game. play. All of this is in the GoSats program,” said co-founder Roshni Aslam of the GoSats program.

Third Quarter of 2022 Highlights

Earnings

• Net profit increased 117% year-on-year to 100 million riyals. 281,000,000,000 Q3-FY22

• Core operating profit (excluding trading profit) increased by 54% year-on-year to Rs.745 million

• Q3 2022 INI was $000,000,000,25.8 million, up 36% year-over-year. The net interest margin after deducting interest income was 5.90%.

Last quarter’s telecom net interest margin (inclusive) was 6.18% for the quarter.

• Fees and other income increased by 13% and 28% year-on-year to Rs.744.4 million in Q3 FY2022.

• Core operating profit (excluding trading profit) from Q3 FY2022 to FY2022 was Rs 332.4 billion, an increase of 34% year-on-year.

• 32% reduction in tax-exempt reserves. 392 million from Q3 to FY22

template

Deposits

• CASA balance: 100 million tonnes, up 18% year-on-year. 47,859 Kroner

✓ CASA rate: 51.59% as of December 31, 2021, 48.31% as of December 31, 2020

✓ Average CASA rate: 50.54% as of 31 December 2021, 44.66% as of 31 December 2020

• Customer Deposits: 200 million Toman, 11% annual growth. 8581.8 billion

Cumulative wealth and wealth strength

• Safe Assets: 100 million tomans with an annual growth rate of 11%. 1 22 21.9 billion

✓ Personal and commercial loans reached 200 million tons, up 26% year-on-year. 86,052 million, mainly internal growth

Annual loan growth of 44%

• Asset quality at the bank level: GNPA and NNPA decreased by 31 and 35 units/s to 3.96% and 1.74% respectively.

Combined retail and commercial net NPA decreased by 53 and 37 basis points, respectively.

✓ PCR decreased from 52.06% on Sep 30, 2021, to 57.06% on Dec 31, 2021, strengthening the balance.

Plate (67% technical distance)

✓ Recovery Efficiency: Primary waste retail recovery efficiency has exceeded pre-pandemic levels for urban and rural retailers.

prepare

Equity ratio and liquidity ratio

• Capital ratio: increased to 15.38%, CET-1 from 14.83%

• Average Liquidity Coverage Ratio (LCR): Stable at 149% in Q3 FY22.