Indian Bank net profit falls 43% in Q4, says asset quality improving

Indian Bank’s net profit dropped 43 per cent in in the fourth quarter of financial year 2021-22 to Rs 984 crore, compared to Rs 1,709 crore the same period the last financial year.

The state-owned bank’s total income this time was up 9 per cent to Rs 11,405 crore, as against Rs 10,485 crore during the fourth quarter of 2020-21. “We are seeing our asset quality continuously improving. Our operating profit is also growing. We have seen an improvement in net interest margins (NIM) too,” said S L Jain, managing director and chief executive officer of the bank.

During the