{"id":23930,"date":"2023-07-28T02:04:54","date_gmt":"2023-07-28T02:04:54","guid":{"rendered":"http:\/\/faceinews.com\/?p=23930"},"modified":"2023-07-28T02:04:54","modified_gmt":"2023-07-28T02:04:54","slug":"indian-bank-financial-results-for-the-quarter-ended-30th-june-2023-banks-global-business-crossed-%e2%82%b911-lakh-cr","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=23930","title":{"rendered":"Indian Bank : Financial Results for the Quarter ended 30th June 2023 Bank\u2019s Global Business crossed \u20b911 lakh Cr"},"content":{"rendered":"

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Financial Results for the Quarter ended 30th June 2023<\/p>\n

Bank\u2019s Global Business crossed \u20b911 lakh Cr<\/p>\n

Net profit up by 41% YoY<\/p>\n

Operating Profit up by 16% YoY<\/p>\n

\u2022 Net Profit up by 41% YoY at \u20b91709 Cr in Jun\u201923 from \u20b91213 Cr in Jun\u201922<\/p>\n

\u2022 Profit Before Tax up by 78% YoY at \u20b92394 Cr in Jun\u201923 from \u20b91345 Cr in Jun\u201922<\/p>\n

\u2022 Operating Profit grew by 16% YoY at \u20b94135 Cr in Jun\u201923 from \u20b93564 Cr in Jun\u201922<\/p>\n

\u2022 Net Interest Income increased by 26% YoY to \u20b95703 Cr in Jun\u201923 from \u20b94534 Cr in Jun\u201922<\/p>\n

\u2022 Fee based income grew by 7% YoY to \u20b9671 Cr in Jun\u201923<\/p>\n

\u2022 Cost-to-Income Ratio stood at 44.22% in Jun\u201923<\/p>\n

\u2022 Domestic NIM improved to 3.61% in Jun\u201923 from 3.10% in Jun\u201922<\/p>\n

\u2022 Return on Assets (RoA) improved to 0.95% in Jun\u201923 from 0.73% in Jun\u201922<\/p>\n

\u2022 Return on Equity (RoE) increased to 17.88% in Jun\u201923 from 14.18% in Jun\u201922<\/p>\n

\u2022 Total Business recorded a YoY growth of 9% reaching the level of \u20b91100943 Cr in Jun\u201923 from \u20b91009454 Cr in Jun\u201922<\/p>\n

\u2022 Advances increased by 13% YoY to \u20b9479404 Cr in Jun\u201923 from \u20b9425203 Cr in Jun\u201922<\/p>\n

\u2022 RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to \u20b9276435 Cr in Jun\u201923 from \u20b9244247 Cr in Jun\u201922<\/p>\n

\u2022 RAM contribution to gross domestic advances is 61%. Retail & Agri advances grew by 16% YoY each while MSME advances grew by 7% YoY. Home Loan (Including mortgage) grew by 14% YoY, Auto Loan by 29% YoY and Personal Loan by 52% YoY<\/p>\n

\u2022 Deposits grew by 6% YoY and reached to \u20b9621539 Cr in Jun\u201923<\/p>\n

\u2022 CASA deposits recorded a YoY growth of 5% and stood at \u20b9250242 Cr in Jun\u201923. The share of CASA to total deposits stood at 40%.<\/p>\n

\u2022 GNPA decreased by 266 bps YoY to 5.47% in Jun\u201923 from 8.13% in Jun\u201922, NNPA reduced by 142 bps YoY to 0.70% from 2.12% in Jun\u201922<\/p>\n

\u2022 Provision Coverage Ratio (PCR, including TWO) improved by 702 bps YoY to 95.10% from 88.08% in Jun\u201922<\/p>\n

\u2022 Capital Adequacy Ratio stood at 15.78%. CET-I & Tier I Capital at 12.31% & 12.88% respectively<\/p>\n

\u2022 Net Profit up by 18% QoQ to \u20b91709 Cr in Jun\u201923 from \u20b91447 Cr in Mar\u201923<\/p>\n

\u2022 Profit Before Tax up by 65% QoQ at \u20b92394 Cr in Jun\u201923 from \u20b91452 Cr in Mar\u201923<\/p>\n

\u2022 Operating Profit stood at \u20b94135 Cr in Jun\u201923 as against \u20b94016 Cr in Mar\u201923<\/p>\n

\u2022 Net Interest Income stood at \u20b95703 Cr in Jun\u201923 as against \u20b95508 Cr in Mar\u201923<\/p>\n

\u2022 Return on Assets (RoA) improved by 13 bps QoQ to 0.95% in Jun\u201923<\/p>\n

\u2022 Return on Equity (RoE) improved by 240 bps QoQ to 17.88% in Jun\u201923<\/p>\n

\u2022 Cost-to-Income Ratio improved by 225 bps QoQ to 44.22% in Jun\u201923<\/p>\n

\u2022 Priority Sector portfolio stood at \u20b9160863 Cr in Jun\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 5798 domestic branches including 3 Digital Banking Units (DBUs), out of which 1970 are Rural, 1517 are Semi-Urban, 1168 are Urban & 1143 are in Metro category. The Bank has 3 overseas branches & 1 IFSC Banking Unit (IBU).<\/p>\n

\u2022 The Bank has 4804 ATMs & BNAs and 10805 number of Business Correspondents (BCs).<\/p>\n

Digital Banking:<\/p>\n

\u2022 Transactions through ATM, BNA & Digital channels improved by 7% YoY in Q1FY24.<\/p>\n

\u2022 Mobile Banking users increased by 36% YoY.<\/p>\n

\u2022 UPI users and transactions increased by 33% YoY and 85% YoY respectively.<\/p>\n

\u2022 During Q1FY24, the Bank has launched various Digital Journeys under its Digital Transformation Programme.<\/p>\n

Awards & Accolades:<\/p>\n

\u2022 Bank received the following awards for excellent performance in enrollment of Atal Pension Yojana (APY) scheme:<\/p>\n

\uf0d8 APY Leadership Pinnacle Exemplary Award of Par Excellence (Campaign for MD & CEO of banks): Indian Bank topped among all the PSBs with 181.95% achievement of the target.<\/p>\n

\uf0d8 APY National Championship Cup for Sponsor Banks and RRBs: Bank stood 2nd Best among all the teams- received APY Championship Trophy of Par-Excellence along with APY Championship Exemplary Award.<\/p>\n

Our Focus:<\/p>\n

We strive to enhance customer satisfaction by leveraging digital technologies, delivering customised experiences and proactively resolving customers\u2019 issues. Through continuous staff trainings and a customer-centric approach, we focus to build trust, promote financial literacy and empower individuals and businesses to achieve their financial goals.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

Financial Results for the Quarter ended 30th June 2023 Bank\u2019s Global Business crossed \u20b911 lakh Cr Net profit up by 41% YoY Operating Profit up by 16% YoY \u2022 Net Profit up by 41% YoY at \u20b91709 Cr in Jun\u201923 from \u20b91213 Cr in Jun\u201922 \u2022 Profit Before Tax up by 78% YoY at \u20b92394 […]<\/p>\n","protected":false},"author":2,"featured_media":23931,"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-23930","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\/23930","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=23930"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/23930\/revisions"}],"predecessor-version":[{"id":23932,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/23930\/revisions\/23932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/23931"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}