"Higher provisioning for non-performing assets in the quarter led to fall in profit," the public sector lender's chairman and managing director Arun Tiwari told reporters.
Provisioning during the quarter under reviews stood at Rs. 920 crore as against Rs. 655 crore a year ago as gross non-performing assets (NPAs) rose to 4.08 per cent from 2.98 per cent, while net NPAs moved up to 2.33 per cent as against 1.61 per cent.
For the full fiscal year, the bank's net profit dropped 21.4 per cent toRs. 1,696 crore.
Non-interest income for the quarter stood at Rs. 775 crore as againstRs. 875 crore a year ago.
The bank had a fresh slippage of Rs. 1,200 crore in the quarter and restructured Rs. 1,435 crore worth of loans during the period. It sold Rs.320 crore of bad loans in the fourth quarter.
Net interest income in the fourth quarter was up 3.6 per cent to Rs.2,052 crore from Rs. 1,980 crore.
Domestic net interest margins (NIM) stood at 2.62 per cent in Q4, while global NIM was at 2.55 per cent. The bank sees its margins improving to 2.9 per cent in FY15 (2014-15).
Global business grew 11.8 per cent to Rs. 5,32,007 crore in FY14 from Rs. 4,75,673 crore in the previous fiscal year.
Domestic deposits increased 12.2 per cent to Rs. 2,92,811 crore, while global deposits rose 12.9 per cent to Rs. 2,97,675 crore.
Casa (current account, savings account) deposits grew 7.6 per cent to Rs. 87,801 crore, while Casa share in the total deposits stood at 29.5 per cent.
Domestic advances increased 9 per cent to Rs. 2,16,751 crore and global advances was up 10.6 per cent to Rs. 2,34,332 crore.
International business in the year rose 42.2 per cent to Rs. 22,445 crore from Rs. 15,780 crore.
Credit growth is seen at 10-12 per cent in the current fiscal year, while deposits are seen at 9-10 per cent, Mr Tiwari said.
He said the bank has headroom to raise additional tier I capital of Rs.4,000 crore in the year. The bank also plans to raise Rs. 1,400 crore through QIP route in the second quarter.