• Growth outlook: Credit growth is currently around 19% and liabilities growth 15%; against guidance of 15% to 16%, the bank expects to end the year closer to 16-17%. It received $239 million in FCNR deposits and has deployed those funds in credit.
• Asset quality: Management said there is no stress in the books, citing net NPA at 0.09% and very low SMA numbers. The higher provisions reflect a cautious approach; credit cost is 0.14, and the bank expects it to remain in this range with no further uptick.
• Returns and margins: From a return on asset of 1.10, the medium-term target is around 1.18 to 1.20. NIM is 3.33, with a shorter-term outlook of around 3.36, 3.37 and an aim to reach 3.40 to 45.
• Treasury exposure: Yields had moved from the 7.17-19 range at September 30th to around 7.40; management sees 7.40 to 7.45 as an upper cap and does not expect a major balance-sheet impact. A 10 basis point rise could lower treasury income by 10 to 10.5 or 11 crore.
• Gold loans and capital: Gold-loan growth of 41% reflects new customer additions as well as a lower base, not just higher gold prices; the bank plans to keep growing the portfolio. It is not looking at strategic investment at this point of time.