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Indian Bank Result
State-owned Indian Bank on Wednesday reported a 35 per cent increase in net profit at Rs 2,852 crore for the third quarter ended December 2024, helped by core income. The Chennai-based bank had earned a net profit of Rs 2,119 crore in the same quarter a year ago. Its total income increased to Rs 17,912 crore from Rs 16,099 crore a year ago, Indian Bank said in a regulatory filing. The interest income also rose to Rs 15,759 crore during the quarter under review compared to Rs 14,198 crore in the year-ago period. The company's net interest income increased by 10 per cent to Rs 16,415 crore from Rs 15,815 crore in December 2023. Its operating profit grew to Rs 4,749 crore against Rs 4,097 crore in the third quarter of the previous fiscal. On the asset quality front, the bank's gross non-performing assets ratio moderated to 3.26 per cent compared to 4.47 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.21 per cent from 0.53 per cent at the end of the third quar
State-owned Indian Bank on Monday reported 36 per cent increase in profit at Rs 2,707 crore for the second quarter ended September 2024. The Chennai-based lender had earned a net profit of Rs 1,988 crore in the same quarter a year ago. Total income increased to Rs 17,770 crore during the quarter under review from Rs 15,736 crore in the same period last year, Indian Bank said in a regulatory filing. The bank reported interest income of Rs 15,348 crore during the quarter compared to Rs 13,743 crore in the same period a year ago. Net Interest Income (NII) improved to Rs 6,194 crore, from Rs 5,741 crore in the second quarter of previous year, registering an increase of 8 per cent. As regards asset quality, the bank witnessed improvement with gross Non-Performing Assets (NPAs) declining to 3.48 per cent of gross loans by the end of September 2024 from 4.97 per cent a year ago. Similarly, net NPAs or bad loans moderated to 0.27 per cent from 0.60 per cent at the end of the second quart
Indian Bank on Friday reported a net profit of Rs 1,708.85 crore in the March-ended quarter. The lender had posted a net loss of Rs 217.74 crore in the same quarter of the preceding financial year 2019-20. Sequentially, the bank had posted a net profit of Rs 514.29 crore in the December quarter of the financial year 2020-21. The bank said figures of March 31, 2020, are related to standalone Indian Bank financing for the pre-amalgamation period, hence not comparable with the post amalgamation financials of December 2020 and March 2021. The erstwhile Allahabad Bank was amalgamated into Indian bank with effect from April 1, 2020. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20, Indian Bank said in a regulatory filing. For the full year of the financial year 2020-21, the net profit of the bank was recorded at Rs 3,004.68 crore. In the previous financial year, the bank had a total income o
Indian banks' results for the fiscal year ended March 2018 are likely to be weak, S&P Global Ratings said today. "While recent announcements are net negative for bank results, we believe that rating downgrades are unlikely. This is because our expectations for fiscal 2018 were already low for most banks," S&P Global Ratings Credit Analyst Michael Puli said. The central bank's recently announced change to the recognition of restructured loans will probably foster early recognition and higher provisions across the banking sector. "We believe that announcements such as smoothing provisioning for mark-to-market losses on investments over four quarters will temper but not offset the immediate burden from strained performances," S&P said. In a report titled 'India's Banks Are Bracing For Weak Fiscal 2018 Results', S&P said it believes that at a system level the ratio of stressed assets is realistically around 13-15 per cent, compared with 12.3 per cent in the first half of ..