• Deposit growth: Deposits are growing at 13+%, with the individual savings-bank segment growing by approximately 12%. Management attributed slightly slower total advances growth to shedding bulk deposits and expects to match advances growth in the next quarter on a sustainable basis; FCNR(B) funds were used for advances and to replace high-cost bulk deposits.
• Net interest income: NII exceeded ₹11,000 crore, growing more than 20% year on year and more than 7% quarter on quarter. Management described this as the bank’s core business and said the growth was sustainable.
• Treasury impact: Operating profit was lower because yield hardening caused mark-to-market treasury losses requiring provisions. Yields hardened by approximately 44 paise from June to September, with an estimated impact of around ₹1,500-1,600 crore; excluding that impact, management said growth would be around 8% to 10%, and the losses could return as yields normalize.
• NIM outlook: About 53% of the book is repo-rate linked and reprices overnight, while deposits reprice with a lag. Management expects NIM to remain comfortable for 1 or 2 quarters, says its 2.5% to 2.60% guidance is protected, and expects to maintain or slightly increase NIM; it also noted ₹40,000 to ₹50,000 crore of deposits mature and renew each month.