{"id":24286,"date":"2023-10-26T15:56:18","date_gmt":"2023-10-26T15:56:18","guid":{"rendered":"http:\/\/faceinews.com\/?p=24286"},"modified":"2023-10-26T15:56:18","modified_gmt":"2023-10-26T15:56:18","slug":"indian-bank-financial-results-for-quarter-half-year-ended-30th-september-2023","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=24286","title":{"rendered":"Indian Bank : Financial Results for Quarter\/Half Year ended 30th September 2023"},"content":{"rendered":"

\"\"<\/a><\/p>\n

\"\"<\/a><\/p>\n

Financial Results for Quarter\/Half Year ended 30th September 2023<\/p>\n

Bank\u2019s Global Business reached \u20b911.33 lakh Cr<\/p>\n

Net profit up by 62% YoY, Operating Profit up by 19% YoY<\/p>\n

\u25cf Net Profit up by 62% YoY at \u20b91988 Cr in Sep\u201923 from \u20b91225 Cr in Sep\u201922<\/p>\n

\u25cf Profit Before Tax up by 75% YoY at \u20b92752 Cr in Sep\u201923 from \u20b91571 Cr in Sep\u201922<\/p>\n

\u25cf Operating Profit for Sep\u201923 up by 19% YoY at \u20b94303 Cr from \u20b93629 Cr in Sep\u201922<\/p>\n

\u25cf Net Interest Income increased by 23% YoY to \u20b95741 Cr in Sep\u201923 from \u20b94684 Cr in Sep\u201922<\/p>\n

\u25cf Fee based income grew by 11% YoY to \u20b9805 Cr in Sep\u201923 from \u20b9723 Cr in Sep\u201922<\/p>\n

\u25cf NIM (Domestic) increased to 3.52% in Sep\u201923 from 3.20% in Sep\u201922<\/p>\n

\u25cf Return on Assets (RoA) improved to 1.06% in Sep\u201923 from 0.71% in Sep\u201922<\/p>\n

\u25cf Return on Equity (RoE) improved by 607 bps to 19.90% in Sep\u201923 from 13.83% in Sep\u201922<\/p>\n

\u25cf Cost-to-Income Ratio stood at 44.36% in Sep\u201923 as against 44.27% in Sep\u201922<\/p>\n

\u25cf Total Business recorded a YoY growth of 10% reaching the level of \u20b91133091 Cr in Sep\u201923 from \u20b91026801 Cr in Sep\u201922<\/p>\n

\u25cf Advances increased by 12% YoY to \u20b9492288 Cr in Sep\u201923 from \u20b9437941 Cr in Sep\u201922<\/p>\n

\u25cf RAM (Retail, Agriculture & MSME) advances grew by 12% to \u20b9285891 Cr in Sep\u201923 from \u20b9255256 Cr in Sep\u201922<\/p>\n

\u25cf Retail, Agri, MSME advances grew by 14%, 16% and 5% YoY respectively. RAM contribution to domestic advances is 62%.<\/p>\n

\u25cf Home Loan (Including mortgage) grew by 13%, Auto Loan by 36% and Personal Loan by 49% YoY.<\/p>\n

\u25cf Deposits increased by 9% YoY and reached to \u20b9640803 Cr in Sep\u201923<\/p>\n

\u25cf CASA grew by 7%, driven by 8% YoY growth in SB, CASA ratio stood at 40%<\/p>\n

\u25cf GNPA decreased by 233 bps YoY to 4.97% in Sep\u201923 from 7.30%, NNPA reduced by 90 bps to 0.60% from 1.50% in Sep\u201922<\/p>\n

\u25cf Provision Coverage Ratio (PCR, including TWO) improved by 456 bps YoY to 95.64% from 91.08% in Sep\u201922<\/p>\n

\u25cf Capital Adequacy Ratio stood at 15.53%, CET-I at 12.07% & Tier-I Capital at 12.63%<\/p>\n

\u25cf Net Profit up by 16% QoQ to \u20b91988 Cr in Sep\u201923 from \u20b91709 Cr in Jun\u201923<\/p>\n

\u25cf Profit Before Tax up by 15% QoQ at \u20b92752 Cr in Sep\u201923 from \u20b92394 Cr in Jun\u201923<\/p>\n

\u25cf Operating Profit up by 4% QoQ at \u20b94303 Cr in Sep\u201923 from \u20b94135 Cr in Jun\u201923<\/p>\n

\u25cf Net Interest Income stood at \u20b95741 Cr in Sep\u201923 as against \u20b95703 Cr in Jun\u201923<\/p>\n

\u25cf Return on Assets (RoA) improved by 11 bps QoQ to 1.06% in Sep\u201923<\/p>\n

\u25cf Return on Equity (RoE) improved by 202 bps QoQ to 19.90% in Sep\u201923<\/p>\n

\u25cf Priority Sector portfolio stood at \u20b9164341 Cr in Sep\u201923. Priority sector advances as a percentage of ANBC stood at 42.83% as against the regulatory requirement of 40%<\/p>\n

\u25cf Net Profit up by 52% YoY to \u20b93697 Cr in H1FY24 from \u20b92439 Cr in H1FY23<\/p>\n

\u25cf Profit Before Tax up by 76% YoY to \u20b95146 Cr in H1FY24 from \u20b92917 Cr in H1FY23<\/p>\n

\u25cf Operating Profit increased by 17% YoY to \u20b98437 Cr in H1FY24 from \u20b97194 Cr<\/p>\n

\u25cf Net Interest Income grew by 24% YoY to \u20b911444 Cr in H1FY24 from \u20b99218 Cr<\/p>\n

\u25cf Net Interest Margin (NIM) Domestic increased by 42 bps YoY to 3.57% from 3.15% in H1FY23<\/p>\n

\u25cf Return on Assets (RoA) improved by 29 bps to 1.01% from 0.72% in H1FY23<\/p>\n

\u25cf Return on Equity (RoE) increased by 490 bps to 18.90% from 14.00% in H1FY23<\/p>\n

\u25cf Cost-to-Income Ratio stood at 44.29% as against 43.14% in H1FY23<\/p>\n

Network:<\/p>\n

\u25cf 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).<\/p>\n

\u25cf The Bank has 4866 ATMs & BNAs and 10825 Business Correspondents (BCs).<\/p>\n

Digital Banking:<\/p>\n

\u25cf Mobile Banking users increased by 47% YoY.<\/p>\n

\u25cf UPI users and transactions increased by 34% YoY and 65% YoY respectively.<\/p>\n

\u25cf Bank has so far launched 63 Digital Journeys under its Digital Transformation Program.<\/p>\n

\u25cf 86% of transactions are now carried out through digital channels.<\/p>\n

Our Focus:<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

Financial Results for Quarter\/Half Year ended 30th September 2023 Bank\u2019s Global Business reached \u20b911.33 lakh Cr Net profit up by 62% YoY, Operating Profit up by 19% YoY \u25cf Net Profit up by 62% YoY at \u20b91988 Cr in Sep\u201923 from \u20b91225 Cr in Sep\u201922 \u25cf Profit Before Tax up by 75% YoY at \u20b92752 […]<\/p>\n","protected":false},"author":2,"featured_media":24287,"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-24286","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\/24286","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=24286"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/24286\/revisions"}],"predecessor-version":[{"id":24288,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/24286\/revisions\/24288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/24287"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}