{"id":22931,"date":"2022-11-04T09:37:04","date_gmt":"2022-11-04T09:37:04","guid":{"rendered":"http:\/\/faceinews.com\/?p=22931"},"modified":"2022-11-04T09:37:04","modified_gmt":"2022-11-04T09:37:04","slug":"indian-bank-announces-its-q2-fy2023-results-net-profit-up-by-12-yoy-at-%e2%82%b91225-cr-in-sep22-from-%e2%82%b91089-cr-in-sep21","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=22931","title":{"rendered":"Indian Bank announces its Q2 FY2023 results | Net Profit up by 12% YoY at \u20b91225 Cr in Sep\u201922 from \u20b91089 Cr in Sep\u201921"},"content":{"rendered":"

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Financial Results for Quarter\/Half Year ended 30th September 2022<\/p>\n

Bank\u2019s Global Business reached \u20b910.27 lakh Cr<\/p>\n

Operating Profit up by 11% YoY<\/p>\n

Net profit up by 12% YoY<\/p>\n

\u2022 Net Profit up by 12% YoY at \u20b91225 Cr in Sep\u201922 from \u20b91089 Cr in Sep\u201921<\/p>\n

\u2022 Operating profit for Sep\u201922 up by 11% YoY at \u20b93629 Cr from ` 3276 Cr in Sep\u201921<\/p>\n

\u2022 Net Interest Income increased by 15% YoY to \u20b94684 Cr in Sep\u201922 from \u20b94084 Cr in Sep\u201921<\/p>\n

\u2022 Fee based income grew by 18% YoY to \u20b9723 Cr in Sep\u201922<\/p>\n

\u2022 Cost-to-Income Ratio stood at 44.27% in Sep\u201922 as against 45.85% in Sep\u201921<\/p>\n

\u2022 Domestic NIM stood at 3.20% in Sep\u201922 as against 2.89% in Sep\u201921<\/p>\n

\u2022 Return on Assets (RoA) improved to 0.71% in Sep\u201922 as against 0.69% in Sep\u201921<\/p>\n

\u2022 Return on Equity (RoE) improved by 52 bps to 13.83% for Sep\u201922 against 13.31% in Sep\u201921<\/p>\n

\u2022 Advances increased by 14% YoY to \u20b9437941 Cr in Sep\u201922 from \u20b9385730 Cr in Sep\u201921<\/p>\n

\u2022 RAM (Retail, Agriculture & MSME) advances grew by 13% to \u20b9255256 Cr in Sep\u201922 from \u20b9226501 Cr in Sep\u201921<\/p>\n

\u2022 Retail, Agri, MSME advances grew by 14%, 15% and 9% YoY respectively. RAM contribution to domestic advances is 62%. Home Loan (Including mortgage) grew by 11%, Auto Loan by 28%, Personal Loan by 26% and Gold Loan by 19%<\/p>\n

\u2022 Deposit increased by 7% YoY and reached to \u20b9588860 Cr in Sep\u201922<\/p>\n

\u2022 CASA grew by 7%, driven by 9% YoY growth in CA and 7% YoY growth in SB,<\/p>\n

CASA ratio stood at 41%<\/p>\n

\u2022 GNPA decreased by 226 bps YoY to 7.30% from 9.56%, NNPA reduced by 176 bps to 1.50% from 3.26% in Sep\u201921<\/p>\n

\u2022 Provision Coverage Ratio (PCR) improved by 776 bps YoY to 91.08% from 83.32% in Sep\u201921<\/p>\n

\u2022 Capital Adequacy Ratio at 16.15%. CET-I improved by 58 bps YoY to 12.26%<\/p>\n

Tier I Capital improved by 55 bps YoY to 12.89%<\/p>\n

\u2022 Net Profit rose to \u20b91225 Cr in Sep\u201922 from \u20b91213 Cr in Jun\u201922<\/p>\n

\u2022 Operating profit stood at \u20b93629 Cr in Sep\u201922 as against \u20b93564 Cr in Jun\u201922<\/p>\n

\u2022 Net Interest Income grew by 3% in Sep\u201922 to \u20b94684 Cr from \u20b94534 Cr in Jun\u201922<\/p>\n

\u2022 Non-Interest Income increased by 14% to \u20b91828 Cr in Sep\u201922 from \u20b91604 Cr in Jun\u201922<\/p>\n

\u2022 On a QoQ sequential basis Return on Assets (RoA) moderated by 2 bps to 0.71% in Sep\u201922 as against 0.73% in Jun\u201922.<\/p>\n

\u2022 Return on Equity (RoE) stood at 13.83% in Sep\u201922 as against 14.18% a quarter ago.<\/p>\n

\u2022 Cost-to-Income Ratio stood at 44.27% in Sep\u201922 as against 41.94% in the previous quarter.<\/p>\n

\u2022 Net Interest Margin (NIM) Domestic increased by 10 bps QoQ to 3.20% in Sep\u201922 as against 3.10% in Jun\u201922.<\/p>\n

\u2022 Net Profit up by 7% YoY to \u20b92439 Cr in H1FY23 from \u20b92271 Cr in H1FY22<\/p>\n

\u2022 Operating profit increased by 8% at \u20b97194 Cr from \u20b96691 Cr<\/p>\n

\u2022 Net Interest Income grew by 14% to \u20b99218 Cr from \u20b98078 Cr<\/p>\n

\u2022 Return on Assets (RoA) remained unchanged at 0.72%<\/p>\n

\u2022 Return on Equity (RoE) stood at 14% as against 14.30% in H1FY22<\/p>\n

\u2022 Cost-to-Income Ratio stood at 43.14% as against 43.60% in H1FY22<\/p>\n

\u2022 Net Interest Margin (NIM) Domestic increased by 28 bps YoY to 3.15% as against 2.87%<\/p>\n

Business:<\/p>\n

\u2022 Total Business recorded a YoY growth of 10% reaching the level of \u20b91026801 Cr in Sep\u201922 as against \u20b9937202 Cr in Sep\u201921. It stood at \u20b91009454 Cr in Jun\u201922.<\/p>\n

\u2022 Advances grew by 14% to \u20b9437941 Cr in Sep\u201922 over \u20b9385730 Cr a year ago. Growth in RAM sector is recorded at 13% of which Retail & Agriculture grew by 14% and 15% respectively. On a sequential quarterly basis advances grew by 3%.<\/p>\n

\u2022 Total Deposits grew by 7% YoY to \u20b9588860 Cr in Sep\u201922 as compared to \u20b9551472 Cr during the corresponding period a year ago. On a sequential quarterly basis deposits grew by 1%.<\/p>\n

\u2022 CASA deposits recorded a YoY growth of 7% and stood at \u20b9241078 Cr in Sep\u201922. The share of CASA to deposits stood at 41%.<\/p>\n

\u2022 Priority Sector portfolio stood at \u20b9158187 Cr in Sep\u201922. Priority sector advances as a percentage of ANBC stood at 48% as against the regulatory requirement of 40%.<\/p>\n

Network:<\/p>\n

\u2022 The Bank has 5728 domestic branches, out of which 1940 are Rural, 1496 are Semi-Urban, 1157 are Urban & 1135 are in Metro category and 3 overseas branches.<\/p>\n

\u2022 The Bank has 4825 ATMs & BNAs and 10256 number of BCs.<\/p>\n

Our Focus<\/p>\n

The era of digitisation has brought about paradigm shift in the technological approach of the banking industry as different alternate delivery channels are becoming popular day by day. The Bank has launched many digital products such as PAPL (Pre-approved personal loan), online KCC renewal, overdraft against digital deposits(ODAD), Mudra loan through digital mode, instant jewel loan under its flagship Project- \u201cWAVE\u2019\u2019<\/p>\n

(World of Advanced Virtual Experience) to cater to prompt, hassle-free and customised offerings. Bank has also developed New Age Performance Management System (PMS) aimed at periodical assessment of performance with interactive dashboard.<\/p>\n

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Financial Results for Quarter\/Half Year ended 30th September 2022 Bank\u2019s Global Business reached \u20b910.27 lakh Cr Operating Profit up by 11% YoY Net profit up by 12% YoY \u2022 Net Profit up by 12% YoY at \u20b91225 Cr in Sep\u201922 from \u20b91089 Cr in Sep\u201921 \u2022 Operating profit for Sep\u201922 up by 11% YoY at […]<\/p>\n","protected":false},"author":2,"featured_media":22932,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,10,30,38,11,27,34,28],"tags":[],"class_list":["post-22931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-corporate","category-finance","category-legal","category-new-hopes","category-news","category-technology","category-value-added-services"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/22931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22931"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/22931\/revisions"}],"predecessor-version":[{"id":22933,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/22931\/revisions\/22933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/22932"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}