Indian Bank Q2 net at Rs 412 crore versus Rs 1,755 cr loss a year ago

Lender expect credit growth to be 8-10 % this fiscal

Indian Bank has reported a consolidated net profit of Rs 412 crore during the second quarter of FY21 as against a net loss of Rs 1,755 crore for Q2 FY20.  Last year's consolidated loss was due to the amalgamationn with Allahabad Bank which reported a loss last year in the second quarter. On a standalone basis, Indian Bank had a profit of Rs 358.56 crore during the second quarter of FY20.

Padmaja Chunduru, MD & CEO, Indian Bank said, "This has been a quarter of strong growth in all key parameters. We expect to sustain the performance in the third quarter