{"id":24567,"date":"2024-01-25T02:18:34","date_gmt":"2024-01-25T02:18:34","guid":{"rendered":"https:\/\/faceinews.com\/?p=24567"},"modified":"2024-01-25T02:18:34","modified_gmt":"2024-01-25T02:18:34","slug":"indian-bank-financial-results-for-the-quarter-nine-months-ended-as-on-31st-december-2023","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=24567","title":{"rendered":"Indian Bank : Financial Results for the Quarter\/Nine months ended as on 31st December 2023"},"content":{"rendered":"

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Financial Results for the Quarter\/Nine months ended as on 31st December 2023<\/p>\n

Bank\u2019s Global Business reached \u20b911.64 lakh Cr, up by 11% YoY<\/p>\n

\u2022 Net Profit up by 52% YoY at \u20b92119 Cr in Dec\u201923 from \u20b91396 Cr in Dec\u201922<\/p>\n

\u2022 Profit Before Tax up by 78% YoY at \u20b92747 Cr in Dec\u201923 from \u20b91546 Cr in Dec\u201922<\/p>\n

\u2022 Operating Profit improved to \u20b94097 Cr in Dec\u201923 from \u20b94061 Cr in Dec\u201922<\/p>\n

\u2022 Net Interest Income increased by 6% YoY to \u20b95815 Cr in Dec\u201923 from \u20b95499 Cr in Dec\u201922<\/p>\n

\u2022 Fee based income grew by 21% YoY to \u20b9852 Cr in Dec\u201923<\/p>\n

\u2022 Return on Assets (RoA) up by 31 bps to 1.11% in Dec\u201923 from 0.80% in Dec\u201922<\/p>\n

\u2022 Return on Equity (RoE) increased by 471 bps to 19.92% in Dec\u201923 from 15.21% in Dec\u201922<\/p>\n

\u2022 Yield on Advances (YoA) up by 59 bps to 8.78% in Dec\u201923 from 8.19% in Dec\u201922<\/p>\n

\u2022 Yield on Investments (YoI) increased by 28 bps to 6.80% in Dec\u201923 from 6.52% in Dec\u201922<\/p>\n

\u2022 Gross Advances increased by 13% YoY to \u20b9509800 Cr in Dec\u201923 from \u20b9451658 Cr in Dec\u201922<\/p>\n

\u2022 RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to \u20b9296845 Cr in Dec\u201923 from \u20b9262811 Cr in Dec\u201922<\/p>\n

\u2022 RAM contribution to gross domestic advances is 62.58%. Retail, Agri & MSME advances grew by 14%, 16% and 7% YoY respectively. Home Loan (Including mortgage) grew by 12% YoY, Auto Loan by 46% YoY and Personal Loan by 30% YoY<\/p>\n

\u2022 Priority Sector portfolio stood at \u20b9171480 Cr in Dec\u201923. Priority sector advances as a percentage of ANBC stood at 43.71% as against the regulatory requirement of 40%.<\/p>\n

\u2022 Total Deposits increased by 10% YoY and reached to \u20b9654154 Cr in Dec\u201923. CASA deposit grew by 8%, savings deposit grew by 7% and Current deposit by 12% YoY<\/p>\n

\u2022 Domestic CASA ratio stood at 41.14%<\/p>\n

\u2022 GNPA decreased by 206 bps YoY to 4.47% in Dec\u201923 from 6.53%, NNPA reduced by 47 bps to 0.53% from 1.0% in Dec\u201922<\/p>\n

\u2022 Provision Coverage Ratio (PCR, including TWO) improved by 231 bps YoY to 95.90%<\/p>\n

\u2022 Capital Adequacy Ratio stood at 15.58%. CET-I improved by 39 bps YoY to 12.36%<\/p>\n

Tier I Capital improved by 30 bps YoY to 12.88%<\/p>\n

\u2022 Net Profit up by 7% QoQ to \u20b92119 Cr in Dec\u201923 from \u20b91988 Cr in Sep\u201923<\/p>\n

\u2022 Net Interest Income stood at \u20b95815 Cr in Dec\u201923 as against \u20b95741 Cr in Sep\u201923<\/p>\n

\u2022 Return on Assets (RoA) improved to 1.11% in Dec\u201923 from 1.06% in Sep\u201923<\/p>\n

\u2022 Return on Equity (RoE) improved to 19.92% in Dec\u201923 from 19.90% in Sep\u201923<\/p>\n

\u2022 Yield on Advances (YoA) improved to 8.78% from 8.75% in Sep\u201923 and Yield on Investments (YoI) improved to 6.80% in Dec\u201923 from 6.77% in Sep\u201923<\/p>\n

\u2022 Domestic Net Interest Margin (NIM) stood at 3.49% in Dec\u201923<\/p>\n

\u2022 Cost-to-Income Ratio stood at 46.90% in Dec\u201923<\/p>\n

\u2022 Slippage Ratio contained to 1.28% in Dec\u201923 in comparison to 1.77% in Sep\u201923 i.e improvement of 49 bps<\/p>\n

\u2022 Net Profit up by 52% YoY to \u20b95816 Cr in 9MFY24 from \u20b93834 Cr in 9MFY23<\/p>\n

\u2022 Profit Before Tax up by 77% YoY at \u20b97894 Cr in 9MFY24 from \u20b94461 Cr in 9MFY23<\/p>\n

\u2022 Operating Profit increased by 11% at \u20b912535 Cr in 9MFY24 from \u20b911255 Cr in 9MFY23<\/p>\n

\u2022 Net Interest Income grew by 17% to \u20b917258 Cr in 9MFY24 from \u20b914717 Cr in 9MFY23<\/p>\n

\u2022 Return on Assets (RoA) increased by 29 bps to 1.04% in 9MFY24 from 0.75% in 9MFY23<\/p>\n

\u2022 Return on Equity (RoE) up by 483 bps to 19.25% in 9MFY24 from 14.42% in 9MFY23<\/p>\n

\u2022 Domestic Net Interest Margin (NIM) increased by 19 bps to 3.54% in 9MFY24 from 3.35% in 9MFY23<\/p>\n

\u2022 Yield on Advances (YoA) up by 109 bps to 8.69% in 9MFY24 from 7.60% in 9MFY23<\/p>\n

\u2022 Yield on Investments (YoI) increased by 38 bps to 6.77% in 9MFY24 from 6.39% in 9MFY23<\/p>\n

Network:<\/p>\n

\u2022 The Bank has 5835 domestic branches (including 3 DBUs), out of which 1981 are Rural, 1527 are Semi-Urban, 1173 are Urban & 1154 are in Metro category. The Bank has 3 overseas branches & 1 IBU.<\/p>\n

\u2022 The Bank has 4899 ATMs & BNAs and 10942 number of BCs.<\/p>\n

Digital Banking:<\/p>\n

\u2022 Business through Digital Channels crossed \u20b952,000 Cr. So far 78 Digital Journeys have been launched. More Journeys will be launched in the months to come.<\/p>\n

\u2022 Mobile Banking users increased by 47% YoY and reached to 1.59 Cr.<\/p>\n

\u2022 UPI users and Net Banking Users both, increased by 38% YoY each, and reached to 1.64 Cr and 1.03 Cr respectively.<\/p>\n

\u2022 Number of UPI QR merchants on-boarded surged by 311% YoY and reached to 36 lakh, and number of PoS increased by 47% YoY to 21725.<\/p>\n

\u2022 \u2018Online Tax Portal for Village Panchayats\u2019- launched for collection of taxes in all Village Panchayats in Tamil Nadu.<\/p>\n

Awards & Accolades:<\/p>\n

\u2022 Bank was adjudged the Most Preferred Workplace in BSFI sector for 2023-24 by Marksmen Daily.<\/p>\n

\u2022 Bank was awarded Fastest Growing Public Sector Bank by Dalal Street Investment Journal (DSIJ) in 2023 Banking award.<\/p>\n

\u2022 Bank was conferred BFSI Award for Use of Emerging Technology in Banking Industry for Project \u201cPARADISE\u201d for Adoption of Cloud Computing for AiX Environment by GOVERNANCE NOW.<\/p>\n

\u2022 Chief Technology Officer of the Bank was awarded BFSI Award for the Best Digital Transformation Leader, CTO for the year 2023.<\/p>\n

Our Focus<\/p>\n

Bank\u2019s unwavering focus revolves around understanding and meeting the unique needs of the diverse customer base. With a commitment to excellence, we strive to provide seamless financial services that cater to the dynamic requirements of individuals and businesses across the nation.<\/p>\n

The Bank is strategically channelising its efforts toward optimizing the mobilization of CASA deposits, with a firm commitment to delivering unparalleled customer services that impeccably address the diverse needs of our valued depositors.<\/p>\n

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Financial Results for the Quarter\/Nine months ended as on 31st December 2023 Bank\u2019s Global Business reached \u20b911.64 lakh Cr, up by 11% YoY \u2022 Net Profit up by 52% YoY at \u20b92119 Cr in Dec\u201923 from \u20b91396 Cr in Dec\u201922 \u2022 Profit Before Tax up by 78% YoY at \u20b92747 Cr in Dec\u201923 from \u20b91546 […]<\/p>\n","protected":false},"author":2,"featured_media":24568,"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-24567","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\/24567","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=24567"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/24567\/revisions"}],"predecessor-version":[{"id":24569,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/24567\/revisions\/24569"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/24568"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}