Interest income grew 17 percent to 54.9 billion rupees and interest expenses grew at a slower 12.6 percent to 35.7 billion rupees, helping net interest income grow 26.3 percent to 19.1 billion rupees.
Loans contracted 2.1 percent to 1,429 billion rupees from December to March.
Credit losses grew 60 percent from a year earlier to 3,916 million rupees.
From December to March gross non-performing loans grew to 4.66 percent from 3.62 percent.
Fee income grew 24.6 percent to 2,249 million rupees.
Group gross assets fell 2.5 percent to 2,254 billion rupees. At bank level gross assets fell 2.7 percent to 2,207 billion rupees.
But net assets grew 3 percent to 125 billion rupees. Capital adequacy fell to 14.21 percent from 14.58 percent over the three months.