Earnings Call Q4-FY 2021-22
- Retail fee income is 84% of the total fee income.
- More than 7 Lacs credit cards issued without any DFAs (mostly for existing customers i.e account holders)
- Current accounts are 18% (earlier 11%) of the CASA accounts and Mr. Vaidyanathan admitted that improvement needed in this segment.
- Gross slippages = 1400 cr Net Slippages =700 cr
- Corporate A/c of 250 cr slipped this quarter (a legacy account i.e. loan given by pre merger IDFC bank )
- Only 500 cr is left from Vodafone (earlier it was 3500 cr)
- Mr. Vaidyanathan mentioned that no verticals of the total loan book would exceed 15% of it and it means they want to diversify their business.
- Fee income is 22% of the total income.
- Cash is consuming mainly in 3 segments i.e. credit card business,setting up branches and paying interest for legacy bonds of 20000 cr (having interest payout of 8.8%).
- (a) legacy high-cost liabilities, (b) retail branch/ ATM/ liabilites set up expenses, and (c) set up of credit cards, there is a net profit impact of ~ Rs. 500 crores/ quarter
- The bank is targeting upper middle class income group.
- Employee cost is supposed to go down though loan book is growing and that is because digitization.
- Added 42 new branches and total branches becomes 641 and 70% of the new branches are opened in rural and semi urban area.
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