It has been a challenging environment but despite the slowing momentum
of growth in the economy, your Bank has reported another consistent
performance - reflected in a steady growth of our customer base,
widening reach through multiple channels, healthy growth of business
and revenues and stable asset quality. It is also an affirmation of the
Bank''s focus on a balanced growth strategy.
The Bank''s retail businesses grew steadily during the year and there
was credible growth of both retail deposits and loans, supported by an
expanding network that is critical to the retail franchise. We added
325 branches and 1,321 ATMs in FY 2012-13. Your Bank continues to
balance growth with profitability and generate value for our
stakeholders. This is evidenced by the consistently healthy return on
assets and return on equity.
We also have a deep and abiding commitment to the environment and the
underprivileged. Towards this end, your Bank has adopted the ambitious
goal of facilitating the creation of one million sustainable
livelihoods by 2017 in partnership with reputed organizations in the
During the current financial year, your Bank undertook a successful
equity capital raising exercise and global and domestic investors have
invested Rs.5,537 crores in the Bank. We are grateful to all the
investors who have reposed confidence in us.
Looking ahead, we are optimistic about the future and we believe that
your Bank is positioned to adapt suitably to challenges and capitalise
on emerging opportunities in the economy. I truly appreciate your
support and association with the Bank and remain committed to
delivering value to all our stakeholders.
24th April, 2013