DBS Bank India FY22 results reflect robust growth & progress with integration

Key financial performance highlights:

Net advances grew 19% to INR 43,898 Cr from INR 36,973 Cr in FY21.

The CASA ratio improved to 33% in FY22 from 31% in the previous fiscal year.

Net revenues grew 8% annually to INR 2,892 Cr in FY22 from INR 2,673 Cr in FY21

Revenue growth was led by Institutional Banking across products and services and robust growth of Consumer Banking business despite the third Covid wave (Dec 2021 - Jan 2022).

Stable income (NII and fee income) grew by 29% to INR 2,580 Cr in FY22. This was partially offset by a 52% on-year drop in trading income at INR 284 Cr in FY22, mainly due to lower market opportunities vis-à-vis FY21 with the reversal of the rate environment.

FY22 PAT stood at INR 167 Cr FY21* despite the increased annual pre-tax drag from the erstwhile Lakshmi Vilas Bank at INR 669 Cr in FY22 compared to INR 341 Cr in FY21, where the impact was only for four months.

The net NPA ratio improved to 1.61% in FY22 from 2.83% last year. Simultaneously, the gross NPA ratio improved to 9.5% in FY22 from 12.93% in FY21, giving 87% provision coverage. Credit risks and gradual progress with NPLs from the LVB franchise were under control.

In FY22, DBS Bank Ltd., Singapore infused INR 1,040 Cr capital in DBS Bank India to increase the Capital Adequacy Ratio to 16.29%, with CET at 13.71%, compared to 15.13%, with CET1 at 12.34% in FY21.

Speaking on the FY22 results, Surojit Shome, MD & Chief Executive Officer, DBS Bank India, said, “Revenue growth was witnessed across both corporate and retail segments. Large corporate & SME businesses witnessed robust growth in lending, trade, cash as well as treasury products. Retail growth was fuelled by savings accounts, mortgages and the wealth business. While the work toward recoveries on stressed advances have been underway, and reflected in improvement in NPA ratios in FY22 compared to FY21, the P&L of the erstwhile LVB franchise was still under transition as network efficiencies were being improved and the one-time pension liabilities were high. Significant strides have been made in integration of the expanded franchise in terms of products, process, technology, brand and most importantly, our people. The advantages of the expanded network across businesses segments, including products such as Gold Loans have started to gradually flow through, despite the repeated Covid waves.” [END] About DBSDBS is a leading financial services group in Asia with a presence in 18 markets. Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021. DBS was also ranked No. 1 on Forbes' list of the World's Best Banks in India for two consecutive years. DBS Bank has been present in India for 27 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides an entire range of banking services for large, medium and small enterprises and individual consumers in India. In 2016, DBS launched India's first mobile-only bank – digibank, which now has ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The bank now has a network of nearly 600 branches across 19 states in India.DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established an SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 30,000+ staff representing over 40 nationalities. For more information, please visit www.dbs.com. For more information, contact:

DBS Bank India Limited

Anand Mugad

anandmugad@dbs.com

Shubham Sinha

Adfactors PR

Chennakeshav Shenoy

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Mobile: +91 9819266998