Indian Bank

PSU stocks rally; RITES, Indian Bank, Bharat Dynamic, RVNL surge up to 13%

At 10:20 AM, the BSE PSU index, the top gainer among sectoral indices, was up 3.5 per cent at 19,856, as compared to the 1.5 per cent rise in the BSE Sensex

FSIB recommends Binod Kumar for the post of MD and CEO of Indian Bank

The Financial Services Institutions Bureau (FSIB) on Saturday recommended Binod Kumar for the post of Managing Director of Chennai-based Indian Bank. Kumar, who is serving as Executive Director of Punjab National Bank, will replace S L Jain on his superannuation next month. Declaring the result of the selection process, the FSIB -- the headhunter for directors of state-owned banks and financial institutions -- in a statement said the bureau interviewed 15 candidates on Sunday. "Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Binod Kumar for the position of MD & CEO in Indian Bank," it said. Earlier in April, the bureau had selected Asheesh Pandey for the position but the Reserve Bank of India (RBI) had raised some reservation over his name. Therefore, the bureau held a fresh interview to choose a new person in place of Pandey. The final decision on the FSIB recommendation would be taken by the ...

Public sector bank heads at BS BFSI Summit: The best is still to come

Heads of public sector banks discuss the present and future of the banking sector in conversation with consulting editor Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit

Indian Bank soars 17% in 2 days on healthy Q2 results; nears 52-week high

Motilal Oswal Financial Services reiterated its 'BUY' rating on Indian Bank with a revised target price of Rs 650 per share.

Indian Bank Q2FY25 results: Net profit rises 36% to Rs 2,707 crore

The net interest margin (NIM) declined by seven basis points (bps) to 3.39 per cent in Q2FY25 compared to 3.46 per cent in Q2FY24

Indian Bank Q2FY25 results: Net profit increases 36% to Rs 2,707 cr

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

Nifty PSU Bank index soars 4%; Indian Bank, BOB zoom up to 12% post Q2 nos

At 02:20 pm; the Nifty PSU Bank index was the top gainer among sectoral indices, up 4 per cent, as compared to 0.8 per cent rise in Nifty 50.

Power Grid Corporation, Indian Bank raise Rs 5,000 crore each in single day

Infrastructure bonds have a tenor of at least seven years and the proceeds are utilised by banks to fund long-term infrastructure projects

HDFC Bank says sequential rise in deposits outpaced loan growth in Q2

Deposits rose 5.1 per cent from the previous quarter to Rs 25 trillion, after no sequential change in April-June

PSU Banks in focus: BoB, UBI among 5 stocks trading at key support levels

Shares of Bank of Baroda, Union Bank of India and Indian Bank can potentially rally up to 15% if these support levels are held; check key support and resistance levels for 5 PSU bank stocks here.

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments

Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO

Public sector Indian Bank has targeted to recover about Rs 7,000 crore during the current financial year, a top official said on Tuesday. The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time, the bank's Managing Director and CEO Shanti Lal Jain said here. The city-headquartered Indian Bank has reported a 41 per cent jump in its net profit to Rs 2,403 crore for the April-June 2024 quarter due to a decline in bad loans. It had earned a net profit of Rs 1,709 crore in the corresponding quarter of last year. "Last time, we recovered about Rs 8,700-Rs 8,800 crore. But what happens is slowly, this number may come down and this time we have planned that we will be making a recovery of around Rs 7,000 crore," Jain told reporters. Elaborating, he said recovery of Rs 7,000 crore for a financial year comes to Rs 1,750 per quarter and the bank in April-June 2024 quarter recovered Rs 1,937 cro

Banks face 7-year debt recovery backlog; Government plans capacity boost

More than 200,000 cases are pending in Debt Recovery Tribunals (DRTs), which currently manage only 30,000 to 40,000 cases each year

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

Its operating profit improved by 9 per cent year-on-year (Y-o-Y) to Rs 4,502 crore in June 2024 from Rs 4,135 crore in June 2023

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

State-owned Indian Bank on Monday posted a 41 per cent jump in its net profit to Rs 2,403 crore for the June 2024 quarter due to a decline in bad loans. The Chennai-based lender had earned a net profit of Rs 1,709 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 16,945 crore against Rs 14,759 crore a year ago, Indian Bank said in a regulatory filing. Its interest income grew to Rs 15,039 crore during the period under review from Rs 13,049 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) improved to 3.77 per cent of gross advances as of June 30, 2024, from 5.47 per cent in the April-June quarter of the previous fiscal. The net NPAs also declined to 0.39 per cent of the advances from 0.70 per cent a year ago. As a result, provisions for bad loans declined to Rs 896 crore against Rs 930 crore earmarked during the same quarter a year ago. The capital adequacy ratio of the

LS Polls: Correction in mid, smallcap stocks may not be over, warn analysts

Going ahead, analysts see more pain in the offing for broader markets as stocks command extremely rich valuations, limiting upside in the near-term

This PSU bank stock has hit record high in weak market; zoomed 121% in 1 yr

Indian Bank share price hit a record high of Rs 596.70, up 3.5% on the BSE after the S&P Global Ratings revised its rating outlook to Positive from Stable

PSBs on a roll after RBI doles out Rs 2 trn dividend to govt; index up 2%

At 10:30 am; Nifty PSU Bank index, the top gainer among sectoral indices, was up 2.5%, as compared to 0.42% rise in the Nifty 50, while Nifty Bank and Nifty Private Bank index are up 1%

Shares of Union Bank, Indian Bank, and BoI jump up to 5%: here's why

On an index level, Nifty PSU Bank was the top sectoral performer of the day on NSE jumping 2 per cent at 7,207 levels in intraday trade

Nifty PSU Bank index snaps two day losing run; rises 2.5% on May 08

The banking sector stocks fell as the Reserve Bank of India (RBI) proposed to tighten the project financing norms, which require lenders to set aside higher capital for doling out loans to under-const