Operating profit for the quarter was lower at Rs 367 crore as compared to Rs 404 crore. Net interest income during the quarter was however 5.6% higher over the year-ago period.
Managing Director S Krishnan, who put down his papers last September citing personal reasons, declared the results. He is expected to continue heading the bank till the bank finds his successor.
The bank renewed a search as the Reserve Bank of India rejected the bank’s previous proposals.
On Monday, the board of the bank recommended a 100% dividend, or Rs 10 per share for FY24.
The bank’s advances rose 6.4% year-on-year to Rs 39970 crore while the asset quality slipped marginally to 1.44% at the end of the fiscal year as against 1.39% a year back. Deposits grew at a slower 3.7% pace during the year to Rs 49575 crore.The bank said that the stressed assets ratio decreased to 2.70% from 3.18% a year back.