Annual Report is out. On first glance looks like there is a lot of information about new initiatives (3000 clients for Cash Management, Wealth Management AUM at 6536 Cr, up 97%) and describes various activities in detail. Also includes many graphs, “Graph 4.3.3: Reducing First EMI bounce rates” is particularly interesting compared to pre-covid.
Lots of growth in the FASTag ecosystem, not sure how I feel about increased focus here. Good for retaining CASA accounts but hopefully they’re able to generate good amount of fees as well from B2B partnerships.
Total employees at 27804 as of March 2022. Median increase in employee remuneration ~10%, but NIL for Vaidyanathan.
Rural banking is growing pretty well.
As on March 31, 2022, the Bank has engaged 10 Corporate
BC partners (including its wholly owned subsidiary IFBL)
and has total 11,522 customer service points, including 601
rural business corrospondent centres, present in 29 States
& UTs. In FY 2021-22, the Bank has opened 4,320 new customer
service points and total of 4 crore transactions were performed valuing 15,220 crore.
Further, the Bank has disbursed 8,625 crore of loans.
Operating expenses:
Business ratios:
There is a note about treasury activities in the MD message section but it feels short and vague.
TREASURY ACTIVITIES
The Bank’s treasury operations are largely to service client’s
hedging requirements and for balance sheet management.
We have a comprehensive limit framework including
Present Value of a basis point (PV01), VaR, NOOP limits,
Stress testing etc. which we adhere to. As far as proprietary
trading is concerned, our advice to the trading team is to be
conservative at all times.
There is a also section about 10Yr Gsec yields in the Management Discussion & Analysis section but could not find any commentary about impact on profitability.
I saw some posts about investment fluctuation reserves, this is what the balance sheet says:
Full details about HFT/AFS and HTM holdings are on page 192. Bond experts please analyze 
I guess we can only hope they reduced HFT/AFS after March.