The private sector lender’s standalone net profit grew to ₹3,496 crore for the January-March 2023 period against ₹2,767 crore in the year-ago period.

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For FY23, the bank’s consolidated net profit rose 23 per cent to ₹14,925 crore.

Its core net interest income came at ₹6,103 crore compared to ₹4,521 crore, helped largely by an expansion in the net interest margin to an impressive 5.75 per cent.

It showed an improvement in the asset quality, with the gross non-performing assets ratio improving to 1.78 per cent from 2.34 per cent in the year-ago period and 1.90 per cent in the preceding quarter.