{"id":23631,"date":"2023-05-08T13:10:26","date_gmt":"2023-05-08T13:10:26","guid":{"rendered":"http:\/\/faceinews.com\/?p=23631"},"modified":"2023-05-08T13:10:26","modified_gmt":"2023-05-08T13:10:26","slug":"indian-bank-financial-results-for-the-quarter-year-ended-as-on-31st-march-2023","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=23631","title":{"rendered":"Indian Bank : Financial Results for the Quarter\/ Year ended as on 31st March 2023"},"content":{"rendered":"

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Financial Results for the Quarter\/ Year ended as on 31st March 2023<\/p>\n

Bank\u2019s Global Business reached \u20b910.95 lakh Cr<\/p>\n

Operating Profit up by 47% YoY for Q4FY23 & 20% YoY for FY23<\/p>\n

Net profit up by 47% YoY for Q4FY23 & 34% YoY for FY23<\/p>\n

\u2022 Net Profit up by 47% YoY at \u20b91447 Cr in Mar\u201923 from \u20b9984 Cr in Mar\u201922<\/p>\n

\u2022 Operating Profit up by 47% YoY at \u20b94016 Cr in Mar\u201923 from \u20b92738 Cr in Mar\u201922<\/p>\n

\u2022 Net Interest Income increased by 29% YoY to \u20b95508 Cr in Mar\u201923 from \u20b94255 Cr in Mar\u201922<\/p>\n

\u2022 Fee based income grew by 12% YoY to \u20b9914 Cr in Mar\u201923<\/p>\n

\u2022 Cost-to-Income Ratio improved to 46.47% in Mar\u201923 from 53.03% in Mar\u201922<\/p>\n

\u2022 Domestic NIM improved to 3.59% in Mar\u201923 from 2.87% in Mar\u201922<\/p>\n

\u2022 Return on Assets (RoA) improved to 0.82% in Mar\u201923 from 0.62% in Mar\u201922<\/p>\n

\u2022 Return on Equity (RoE) increased to 15.48% in Mar\u201923 from 11.70% in Mar\u201922<\/p>\n

\u2022 Advances increased by 14% YoY to \u20b9473586 Cr in Mar\u201923 from \u20b9415625 Cr in Mar\u201922<\/p>\n

\u2022 RAM (Retail, Agriculture & MSME) advances grew by 12% YoY to \u20b9272679 Cr in Mar\u201923 from \u20b9242700 Cr in Mar\u201922<\/p>\n

\u2022 RAM contribution to gross domestic advances is 61%. Retail, Agri & MSME advances grew by 13%, 16% & 7% YoY respectively. Home Loan (Including mortgage) grew by 11% YoY, Auto Loan by 28% YoY and Personal Loan by 46% YoY<\/p>\n

\u2022 Deposits increased by 5% YoY and reached to \u20b9621166 Cr in Mar\u201923<\/p>\n

\u2022 CASA ratio stood at 42%<\/p>\n

\u2022 GNPA decreased by 252 bps YoY to 5.95% in Mar\u201923 from 8.47% in Mar\u201922, NNPA reduced by 137 bps to 0.90% from 2.27% in Mar\u201922<\/p>\n

\u2022 Provision Coverage Ratio (PCR, including TWO) improved by 644 bps YoY to 93.82% from 87.38% in Mar\u201922<\/p>\n

\u2022 Capital Adequacy Ratio at 16.49%. CET-I improved by 36 bps YoY to 12.89%<\/p>\n

Tier I Capital improved by 31 bps YoY to 13.48%<\/p>\n

\u2022 Net Profit up by 34% YoY to \u20b95282 Cr in FY23 from \u20b93945 Cr in FY22<\/p>\n

\u2022 Operating Profit increased by 20% YoY at \u20b915271 Cr in FY23 from \u20b912717 Cr in FY22<\/p>\n

\u2022 Net Interest Income grew by 21% to \u20b920225 Cr in FY23 from \u20b916728 Cr in FY22<\/p>\n

\u2022 Return on Assets (RoA) increased to 0.77% in FY23 from 0.63% in FY22<\/p>\n

\u2022 Return on Equity (RoE) improved to 14.73% in FY23 from 12.13% in FY22<\/p>\n

\u2022 Cost-to-Income Ratio improved to 44.20% in FY23 from 46.21% in FY22<\/p>\n

\u2022 Net Interest Margin (NIM) Domestic increased by 50 bps to 3.41% in FY23 from 2.91% in FY22<\/p>\n

The Board of Directors has recommended a dividend of \u20b98.60 per equity share (86%) for FY23 subject to requisite approvals<\/p>\n

Business:<\/p>\n

\u2022 Total Business recorded a YoY growth of 8% reaching the level of \u20b91094752 Cr in Mar\u201923 from \u20b91009243 Cr in Mar\u201922.<\/p>\n

\u2022 Advances grew by 14% to \u20b9473586 Cr in Mar\u201923 over \u20b9415625 Cr a year ago. Growth in RAM sector is recorded at 12% YoY of which Retail, Agriculture & MSME grew by 13%, 16% & 7% YoY respectively.<\/p>\n

\u2022 Deposits grew by 5% YoY to \u20b9621166 Cr in Mar\u201923 as compared to \u20b9593618 Cr during the corresponding period a year ago.<\/p>\n

\u2022 CASA deposits recorded a YoY growth of 5% and stood at \u20b9260809 Cr in Mar\u201923. The share of CASA to deposits stood at 42%.<\/p>\n

\u2022 Priority Sector portfolio stood at \u20b9152992 Cr in Mar\u201923. Priority sector advances as a percentage of ANBC stood at 44% as against the regulatory requirement of 40%.<\/p>\n

Network:<\/p>\n

\u2022 The Bank has 5787 domestic branches, out of which 1964 are Rural, 1517 are Semi-Urban, 1165 are Urban & 1141 are in Metro category. The Bank has 3 overseas branches & 1 IBU.<\/p>\n

\u2022 The Bank has 4929 ATMs & BNAs and 10750 number of Business Correspondents (BCs).<\/p>\n

Digital Banking:<\/p>\n

\u2022 The Bank has established 3 Digital Banking Units (DBUs) at South Delhi, Lucknow and Karaikal.<\/p>\n

\u2022 Transactions through ATM, BNA & Digital channels improved by 8% YoY in Q4FY23.<\/p>\n

\u2022 Mobile Banking users increased by 68% YoY, while its transactions increased by 72% YoY.<\/p>\n

\u2022 UPI users and transactions increased by 27% YoY and 109% YoY respectively.<\/p>\n

\u2022 During the year, the Bank has launched various Digital Journeys under its Digital Transformation Programme.<\/p>\n

Awards & Accolades:<\/p>\n

\u2022 Bank received \u201cGolden Peacock National Training Award-2023\u2019\u2019 in Mar\u201923 for excellence in training practices from Cabinet member & Hon\u2019ble Minister of UAE.<\/p>\n

\u2022 Bank awarded as the 2nd Best Bank at National Level Award at 14th SFBCK Banking Excellence Awards, 2021-22 by the former President of India Shri Ramnath Kovind in Jan\u201923.<\/p>\n

\u2022 Bank was adjudged the Company of the Year at Mint W3 awards 2023 in Feb\u201923.<\/p>\n

\u2022 Bank bagged \u201cCGTMSE Achievement Award FY23\u201d in Apr\u201923 for best efforts in Information Dissemination.<\/p>\n

\u2022 Bank emerged as the winner in BFSI Award 2023 in Best Brand category in Apr\u201923 for spurring growth amidst global slowdown.<\/p>\n

Our Focus<\/p>\n

Our focus is to deliver value-added and suitable solutions through the acumen of empowered employees and smart use of technology to cater the needs of the customers.<\/p>\n

Through a combination of cutting-edge technology and personalised service, we aim to simplify banking, making it more accessible, convenient and secure for everyone.<\/p>\n

Bank has launched an array of digital products to facilitate customers for seamless and convenient banking experience. In a single click, one can apply for loans e.g. Agri jewel, Shishu Mudra, Personal, renew MSME & KCC loans, open fixed deposits and savings account, etc. To garner low cost deposits, Bank has set-up liability verticals in major cities of India to ensure customized service to esteemed corporates and government departments.<\/p>\n

We aim to be a trusted partner driving positive change by using technology to deliver entire gamut of financial products under one roof and enabling our customers to thrive in an ever evolving financial landscape.<\/p>\n

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Financial Results for the Quarter\/ Year ended as on 31st March 2023 Bank\u2019s Global Business reached \u20b910.95 lakh Cr Operating Profit up by 47% YoY for Q4FY23 & 20% YoY for FY23 Net profit up by 47% YoY for Q4FY23 & 34% YoY for FY23 \u2022 Net Profit up by 47% YoY at \u20b91447 Cr […]<\/p>\n","protected":false},"author":2,"featured_media":23632,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,10,30,11,27,34,28],"tags":[],"class_list":["post-23631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-corporate","category-finance","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\/23631","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=23631"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/23631\/revisions"}],"predecessor-version":[{"id":23633,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/23631\/revisions\/23633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/23632"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}