Indian Bank Q2 net up 11.45 % to Rs 452 cr on retail, farm loan growth

The bank's provisions have gone up to Rs 924.06 crore from Rs 601.10 crore, a year ago

Indian Bank has reported a 11.45 per cent growth in net profit during the second quarter ended September 30 at Rs 451.54 crore as compared to Rs 405.15 crore, a year ago.

Kishor Kharat, MD & CEO of the bank said that total business growth - especially retail, agriculture and MSME (RAM) growth of 20 per cent, drop in cost-income ratio to 39 per cent from 47 per cent due to the control of expenditure - have helped hike the bank's profit.

Besides the bank's fee-based income that grew by 50 per cent, also helped the profit.

Earlier, he added that