Key Highlights (Quarter ended SepтАЩ23 over SepтАЩ22)
- Net Profit up by 62% YoY at тВ╣1988 Cr in SepтАЩ23 from тВ╣1225 Cr in SepтАЩ22
- Profit Before Tax up by 75% YoY at тВ╣2752 Cr in SepтАЩ23 from тВ╣1571 Cr in SepтАЩ22
- Operating Profit for SepтАЩ23 up by 19% YoY at тВ╣4303 Cr from тВ╣3629 Cr in SepтАЩ22
- Net Interest Income increased by 23% YoY to тВ╣5741 Cr in SepтАЩ23 from тВ╣4684 Cr in SepтАЩ22
- Fee based income grew by 11% YoY to тВ╣805 Cr in SepтАЩ23 from тВ╣723 Cr in SepтАЩ22
- NIM (Domestic) increased to 52% in SepтАЩ23 from 3.20% in SepтАЩ22
- Return on Assets (RoA) improved to 06% in SepтАЩ23 from 0.71% in SepтАЩ22
- Return on Equity (RoE) improved by 607 bps to 90% in SepтАЩ23 from 13.83% in SepтАЩ22
- Cost-to-Income Ratio stood at36% in SepтАЩ23 as against 44.27% in SepтАЩ22
- Total Business recorded a YoY growth of 10% reaching the level of тВ╣1133091 Cr in SepтАЩ23 from тВ╣1026801 Cr in SepтАЩ22
- Advances increased by 12% YoY to тВ╣492288 Cr in SepтАЩ23 from тВ╣437941 Cr in SepтАЩ22
- RAM (Retail, Agriculture & MSME) advances grew by 12% to тВ╣285891 Cr in SepтАЩ23 from тВ╣255256 Cr in SepтАЩ22
- Retail, Agri, MSME advances grew by 14%, 16% and 5% YoY respectively. RAM contribution to domestic advances is 62%.
- Home Loan (Including mortgage) grew by 13%, Auto Loan by 36% and Personal Loan by 49%
- Deposits increased by 9% YoY and reached to тВ╣640803 Cr in SepтАЩ23
- CASA grew by 7%, driven by 8% YoY growth in SB, CASA ratio stood at 40%
- GNPA decreased by 233 bps YoY to 97% in SepтАЩ23from 7.30%,NNPA reduced by 90 bps to 0.60% from 1.50% in SepтАЩ22
- Provision Coverage Ratio (PCR, including TWO) improved by 456 bps YoY to64% from 91.08% in SepтАЩ22
Capital Adequacy Ratio stood at 15.53%, CET-I at 12.07%& Tier-I Capital at 12.63%
Key Highlights (Quarter ended SepтАЩ23 over JunтАЩ23)
- Net Profit up by 16% QoQ to тВ╣1988 Crin SepтАЩ23 from тВ╣1709 Cr in JunтАЩ23
- ProfitBefore Tax up by 15% QoQ at тВ╣2752 Cr in SepтАЩ23 from тВ╣2394 Cr in JunтАЩ23
- Operating Profit up by 4% QoQ at тВ╣4303 Cr in SepтАЩ23 from тВ╣4135 Cr in JunтАЩ23
- Net Interest Income stood at тВ╣5741 Crin SepтАЩ23 as against тВ╣5703 Cr in JunтАЩ23
- Return on Assets (RoA) improved by 11 bps QoQ to 06% in SepтАЩ23
- Return on Equity (RoE) improved by 202 bps QoQto90% in SepтАЩ23
- Priority Sector portfolio stood at тВ╣164341 Crin SepтАЩ23. Priority sector advances as a percentage of ANBC stood at 83% as against the regulatory requirement of 40%
- Key Highlights (Half Year ended SepтАЩ23 over SepтАЩ22)
- Net Profit up by 52% YoY to тВ╣3697 Cr in H1FY24from тВ╣2439Cr in H1FY23
- Profit Before Tax up by 76% YoY to тВ╣5146 Cr inH1FY24from тВ╣2917Cr in H1FY23
- Operating Profit increased by 17% YoY to тВ╣8437 Cr in H1FY24 from тВ╣7194 Cr
- Net Interest Income grew by 24% YoY to тВ╣11444 Cr in H1FY24 from тВ╣9218Cr
- Net Interest Margin (NIM) Domestic increased by 42bps YoY to 57% from 3.15% in H1FY23
- Return on Assets (RoA) improved by 29 bps to 01% from 0.72% in H1FY23
- Return on Equity (RoE) increased by 490 bps to90% from 14.00% in H1FY23
- Network:
The Bank has 5819 domestic branches including 3 Digital Banking Units (DBUs), out of which 1974 are Rural, 1522 are Semi-Urban, 1174 are Urban &1149 are in Metro category. The Bank has 3 overseas branches &1 IFSC Banking Unit (IBU).The Bank has 4866 ATMs & BNAs and 10825 Business Correspondents (BCs).Digital Banking:
Mobile Banking users increased by 47% YoY.UPI users and transactions increased by 34% YoY and 65% YoY respectively.
Bank has so far launched 63 Digital Journeys under its Digital Transformation Program.
86% of transactions are now carried out through digital channels.
Our Focus:
Indian Bank is strategically expanding the business and major thrust will be on retail, agriculture, and MSME sectors, targeting 10-12% credit growth in FY24.
Embracing digital banking as our core focus, we are dedicated to fostering financial growth and prosperity for individuals and businesses across diverse sectors of society. Through constant innovation, we strive to simplify processes, enabling quick and convenient banking.
For overall organisational development, Bank is promoting gender diversity, skill onboarding & grooming the employees for leadership. Our team engages with clients to provide hassle-free banking experience through wide range of products and services.