Performance of the Bank as on 31.03.

2017 (Un-audited) Business: The total business of the

bank as on 31st March 2017 stood at Rs. 4633.97 crore against Rs.4171.37 crore as on 31st March
2016, thereby showing an increase of Rs. 462.60 crore registering a growth of 11.09% during the
year 2016-17. Deposits: The deposits of the bank have increased from Rs. 2833.84 crore to
Rs.3230.42 crore (unaudited) during the year 2016-17 thereby registering a growth rate of 13.99%.
Advances: The gross advances of the Bank as on 31st March 2017 stood at Rs.1403.55 crore
(unaudited) as against Rs.1337.53 Crore as on the corresponding date of the previous year recording
a growth of 4.94% CD Ratio: The C.D. Ratio of the bank has decreased by 3.75% from 47.20% as on
31st March 2016 to 43.45% as on March 31, 2017 Priority Sector Advances: The priority sector
advances outstanding as on 31st March 2017 stood at Rs. 1054.48 crore against 986.06 crore
outstanding as on 31st March 2016, registering a growth of 6.94% (Rs. 68.42 crore) on YoY basis. The
priority sector advances at Rs. 1054.48 crore as at the end of the FY 2015-16 constitute 75% of total
advances, which is as per the prescribed benchmark of 75% for RRBs. NPA Position: The gross NPAs
of the Bank as on 31.03.2017 stood at Rs.175.92 crore i.e. 12.53% (un-audited) of gross advances.
The Net NPAs as on 31.03.2017 stood at Rs.110.54 crore which accounts for 8.26% (un-audited) of
net advances. Business per Employee: The business per employee as on 31st March 2017 stood at
Rs.5.01 crore against Rs.4.24 crore as on corresponding date of the previous year recording a growth
of 18.16%. Business per Branch: The business per branch as on 31st March 2017 stood as Rs. 21.35
crore against Rs.19.22 crore as on corresponding date of the previous year recording a growth of
11.08%. Profitability: Against Net profi t of Rs.2.80 crore recorded as at the end of the previous FY
2015-16, there is a net Loss of Rs. 8.28 crore as on 31st March 2017.

The total business of the bank as on 31st March 2018 stood at Rs.4999.44 crore against Rs.4632.66
crore as on 31st March 2017, thereby showing an increase of Rs.366.78 crore registering a growth of
7.92% during the financial year 2017-18. Deposits: The deposits of the bank have increased from
Rs.3230.43 crore to Rs.3404.63 crore during the financial year 2017-18 thereby registering a growth
rate of 5.39%. Advances: The gross advances of the Bank as on 31st March 2018 stood at Rs.1594.81
crore as against Rs.1402.24 Crore as on the corresponding date of the previous year recording a
growth of 13.73% CD Ratio: The C.D. Ratio of the bank has increased by 3.43% from 43.41% as on
31st March 2017 to 46.84% as on March 31, 2018. Priority Sector Advances: The priority sector
advances outstanding as on 31st March 2018 stood at Rs.1235.21 crore against Rs.1058.86 crore
outstanding as on 31st March 2017, registering a growth of 16.65% (Rs.176.35 crore) on YoY basis.
RRB specific benchmark of 75% portion of priority sector advances to total advances outstanding has
been well maintained with 77% advances portfolio comprising of Priority Sector loans. 15 NOTICE
CHAIRMAN'S STATEMENT BOARD AND MANAGEMENT REPORTS FINANCIAL STATEMENTS
GOVERNANCE NPA Position: The gross NPA level of the Bank as on 31.03.2018 is at Rs.175.38 crore
i.e. 11.00% of the gross advances. The Net NPAs as on 31.03.2018 stood at Rs. 97.17 crore which
accounts for 6.41% of net advances. Business per Employee: The business per employee as on 31st
March 2018 stood at Rs.4.90 crore against Rs.5.01 crore as on corresponding date of the previous
year. Business per Branch: The business per branch as on 31st March 2018 stood as Rs.23.04 crore
against Rs.21.34 crore as on corresponding date of the previous year recording a growth of 7.97%.
Profitability: Against Net Loss of Rs.13.07 crore recorded for the previous FY 2016-17, the bank has
recorded Net Profit of Rs.14.10 crore for the year ended 31st March 2018.
 During the fiscal 2018-19, the total income was recorded at `8488.19 Cr compared to
`7116.71 Cr for the previous FY, showing a growth of 19%. Interest income improved to `7675.56 Cr
for the FY2018-19 as against `6621.40 Cr for the previous FY recording a YoY growth of 16%. The
Non-interest income was at `812.63 Cr for the year ended 31.03.2019 as against `495.31 Cr for the
year ended 31.03.2018. Interest expended increased to `4291.63 Cr in the fiscal 2018-19 from
`3750.61 Cr in the earlier fiscal 2017-18 recording a YoY increase of 14%. Of the total interest
expenditure, interest on deposits grew by 11% to `4019.10 Cr from `3612.35 Cr during the previous
fiscal. The Bank’s operating expenses of `2478.66 Cr for FY 2018- 19 compared to `1984.23 cr for
FY 2017-18. Operating Profit stood at `1717.90 Cr for FY 2018-19 compared to `1381.87 cr for FY
2017-18 growing at 24% YoY. After a loss making FY 2016-17, continuing with profitability for the
8th straight quarter, Bank registered a net profit of `464.88 Cr for the FY 2018-19. Net NPA ratio of
the bank improved further to 4.89 pc as on March 31, 2019. The total business of the bank reached
`155910.41 Cr registering an increase of `18991.16 Cr over the business a year ago. In line with the
Bank’s focus about consolidation and strengthening of the Bank’s Balance Sheet, the emphasis during
the last financial year was on arresting the slippage of advances, recovery of NPAs and consolidating
the NPA coverage ratio. The strategy of instilling transparency and faith in the system adopted by the
new regime continued in the current year. The Provision Coverage Ratio of the Bank has been
maintained at 64.30 pc as on March 31, 2019 from the previous of 65.83 pc as on March 31, 2018.
The Standard Loan Book and Investment Book of the Bank now is mostly high rated and the woes of
asset quality issues in this portfolio are assumed to be passé. The Bank recorded deposit growth of
12% and gross advances growth of 15% during the year. Continuing with proper liability management
and non-rollover of high-cost bulk deposits kept the CASA ratio of the Bank at 50.70 pc as on March
31, 2019 from 50.89 pc a year ago. The Bank is operating with a better than industry-average NIM of
3.84 pc which has improved from 3.65 pc a year ago. A YoY credit growth of 16 pc is indicative of
growth momentum setting in. Efforts of Impaired Assets Portfolio Management vertical has brought
about a substantial improvement in reduction/recovery of bad loans to the tune of `2749.95 Cr during
the FY’19. The Bank has shown a strong resilience with a focused approach in NPA Management and
earnings growth by expansion of credit in J&K State

During the fiscal 2019-20, the total income was recorded at Rs.8992.21 Cr compared to Rs.
8488.19 Cr for the previous FY, showing a growth of 6%. Interest income improved to Rs.8446.29 Cr
for the FY2019-20 as against Rs. 7675.56 Cr for the previous FY recording a YoY growth of 10%.
Noninterest income was at Rs.545.92 Cr for the year ended 31.03.2020 as against Rs. 812.63 Cr for
the year ended 31.03.2019. Interest expended increased to Rs.4739.62 Cr in the fiscal 2019-20 from
Rs. 4291.63 Cr in the earlier fiscal 2018-19 recording a YoY increase of 10%. The Bank’s operating
expenses stood at Rs.2727.54 Cr for FY 2019-20 as compared to Rs. 2478.66 Cr for FY 2018-19.
Operating Profit stood at Rs. 1525.05 Cr for FY 2019-20 as compared to Rs 1717.90 cr for FY 2018-19
declining at 11% YoY owing to decrease in non-interest income. Taking cognizance of the continued
pressure on asset quality due to impact of COVID-19, the bank increased NPA Coverage ratio to
78.59% from 64.30%, leading to a Net loss of Rs.1139.41 Crores, while bringing down net NPAs
considerably from 4.89% to 3.48%. The aggregate business of the bank stood at Rs. 162187.30
Crores at the end of the financial year 2019-20. The Bank recorded deposit growth of 9% and gross
advances growth of 1% during the year. Cost of deposits have marginally increased to 4.96% from
4.90%, however, CASA has shown an improvement to 53.66%. The loan-book of UTs of J&K and
Ladakh have witnessed 13% growth thereby re-orienting the lending composition of the bank with
J&K and Ladakh getting 63% of total advances of the Bank.

During the fiscal 2020-21, the total income was recorded at Rs. 8830.08 Cr compared to Rs.
8992.21 Cr for the previous FY, showing a decline of 1.80%. Interest income stood at Rs. 8111.09 Cr
for the FY2020-21 as against Rs. 8446.29 Cr for the previous FY recording a YoY decline of 3.97%. The
non-interest income significantly increased to Rs. 718.99 Cr for the year ended 31.03.2021 as against
Rs. 545.92 Cr for the year ended 31.03.2020. Interest expended decreased to Rs.4340.31 Cr in the
fiscal 2020-21 from Rs. 4739.62 Cr in the pre vious fiscal 2019-20 recording a YoY decrease of 8.42%.
The Bank’s operating expenses stood at Rs. 2878.54 Cr for FY 2020-21 as compared to Rs. 2727.54 Cr
for FY 2019-20. Operating Profit stood at Rs. 1611.23 Cr for FY 2020-21 as compared to Rs 1525.05 cr
for FY 2019-20 growth of 5.65% YoY owing to increase in non-interest income. NPA Coverage ratio of
the Bank stood at 81.97% as on March 31, 2021 as compared to 78.59% as on March 31, 2020 and
net NPAs were considerably reduced from 3.48% as on March 31, 2020 to 2.95% as on March 31,
2021. The bank posted a Net Profit of Rs 432.12 crore for the financial year ended Mar, 2021 as
compared to Net Loss of Rs 1139.41 crore during the financial year ended Mar, 2020. The aggregate
business of the bank stood at Rs. 174902.88 Crores at the end of the financial year 2020-21. The
Bank recorded deposit growth of 10.51% and advances growth of 3.79% during the year

Profit of past 5 years

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