The non-interest income jumped 35.58 percent to Rs 6,197 crore from Rs 4,571 crore, primarily boosted by a hefty Rs 485 crore repatriation of profits from its foreign operations, which on an average contributes to a fourth of the bank's business.

Similarly, its treasury income jumped multiple times to Rs 1,493 crore from a little over Rs 490 crore a year ago. Chairperson Arundhati Bhattacharya said excluding this one-time gain by way of repatriation of profits from foreign branches, which she described as the first in the bank's history, net profit growth would have still been a healthy 15 percent.

"This growth is because of increase in loan book and our higher income from treasury operations which has gone up,"Bhattacharya said and described the numbers as beating the market view on many counts.

Domestic net interest margins stood at 3.32 percent as against 3.49 percent, while whole bank NIM stood at 3.01 percent, up 2 basis points year-on-year. Asset quality of the bank improved to 4.15 percent from 4.89 percent or at Rs 58,834 crore, while the net NPA stood at 2.14 percent from 2.73 percent or at Rs 28,592 crore.

Bhattacharya said there are one or two large accounts, which the bank is trying to work out."If they happen, they will happen, if they don't we may have to take those hits. But, I would like to assure you that even in those accounts the assets are very good and even if there is a hit, it will be a temporary one," she said.

Commenting on the numbers, Ravi Shenoy of Motilal Oswal Securities described the numbers as above their expectations and noted that the bank's provisioning coverage ratio has moved above 70 percent for the first time.

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