"Gross NPAs have gone up and that is what has impacted our profit. Because of higher GNPAs, we have had to make higher provisioning which surged to Rs 4,450.15 crore from Rs 3,722.67 crore," Managing Director and Chief Executive Kishor Kharat told reporters.

Its gross non-performing assets almost doubled to 10.98 percent in the reporting quarter from 5.88 percent a year ago, while net NPA rose more than doubled to 6.78 percent from 2.88 percent.

Provisioning surged to Rs 4,450.15 crore in the quarter as against Rs 3,722.67 crore in a year ago. For the full year, the bank reported a net loss of Rs 3,665 crore as against net profit of Rs 873 crore. Net interest margin declined to 1.67 per cent from 2.10 percent. For the entire year, NIM remained nearly stable at 1.88 percent, marginally down with 1.9 percent last year.

Fresh slippages stood at Rs 10,260 crore. It upgraded Rs 236 crore of loans in the quarter while wrote off Rs 4,250 crore of loans.

"Whatever the list was there in asset quality review, we have dealt with the entire list. There is nothing to carry forward. This year, we can at least say that the storm is over," Kharat said.

The bank has restructured eight accounts worth Rs 6,500 crore under the 5:25 scheme and has 12 cases worth Rs 8,000 crore where strategic debt restructuring has been sanctioned. It sold 10 accounts worth Rs 1,200 crore in the quarter to asset reconstruction companies.

Its total business stood at Rs 4,81,613 crore as against Rs 4,68,213 crore last year, registering a growth of 2.86 percent. Deposits grew 2.26 per cent to Rs 2,65,720 crore and advances rose 3.61 percent to Rs 2,15,893 crore.

Kharat said the bank has a capital requirement of Rs 6,000 crore this fiscal and it has already raised Rs 450 crore through monetisation of its non-core assets and may also raise some funds this year through the same route.

The city-based bank, which had put its plan to raise money through QIP route on hold due to market condition last fiscal, will look at it this year. The bank has an approval to raise Rs 3,771 crore through QIP route. The bank's scrip closed 0.47 percent down at Rs 64.10 on the BSE which ended 0.39 percent down.

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