{"id":26139,"date":"2024-10-30T05:43:19","date_gmt":"2024-10-30T05:43:19","guid":{"rendered":"https:\/\/faceinews.com\/?p=26139"},"modified":"2024-10-30T05:43:19","modified_gmt":"2024-10-30T05:43:19","slug":"indian-bank-financial-results-for-the-quarter-half-year-ended-30th-september-2024","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=26139","title":{"rendered":"INDIAN BANK : Financial Results for the Quarter\/Half Year ended 30th September 2024"},"content":{"rendered":"

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Financial Results for the Quarter\/Half Year ended 30th September 2024<\/p>\n

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Bank\u2019s Global Business is at \u20b912.44 lakh Cr, up by 10% YoY<\/p>\n

\u2022 Net Profit up by 36% YoY at \u20b92707 Cr in Sep\u201924 from \u20b91988 Cr in Sep\u201923<\/p>\n

\u2022 Operating Profit improved by 10% YoY to \u20b94728 Cr in Sep\u201924 from \u20b94303 Cr in Sep\u201923<\/p>\n

\u2022 Net Interest Income increased by 8% YoY to \u20b96194 Cr in Sep\u201924 from \u20b95741 Cr in Sep\u201923<\/p>\n

\u2022 Fee based income grew by 11% YoY to \u20b9891 Cr in Sep\u201924 from \u20b9805 Cr in Sep\u201923<\/p>\n

\u2022 Return on Assets (RoA) up by 27 bps to 1.33% in Sep\u201924 from 1.06% in Sep\u201923<\/p>\n

\u2022 Return on Equity (RoE) increased by 114 bps to 21.04% in Sep\u201924 from 19.90% in Sep\u201923<\/p>\n

\u2022 Yield on Advances (YoA) up by 2 bps to 8.77% in Sep\u201924 from 8.75% in Sep\u201923<\/p>\n

\u2022 Yield on Investments (YoI) increased by 40 bps to 7.17% in Sep\u201924 from 6.77% in Sep\u201923<\/p>\n

\u2022 Gross Advances increased by 12% YoY to \u20b9550644 Cr in Sep\u201924 from \u20b9492288 Cr in Sep\u201923<\/p>\n

\u2022 RAM (Retail, Agriculture & MSME) advances grew by 14% YoY to \u20b9325050 Cr in Sep\u201924 from \u20b9285891 Cr in Sep\u201923<\/p>\n

\u2022 RAM contribution to gross domestic advances stood at 63%. Retail, Agri & MSME advances grew by 15%, 16% and 8% YoY respectively. Home Loan (including mortgage) grew by 14% YoY in Sep\u201924<\/p>\n

\u2022 Priority sector advances as a percentage of ANBC stood above 44% at \u20b9188348 Cr in Sep\u201924 as against the regulatory requirement of 40%<\/p>\n

\u2022 Total Deposits increased by 8% YoY and reached to \u20b9693115 Cr in Sep\u201924 as against \u20b9640803 Cr in Sep\u201923. Current, Savings & CASA deposits grew by 8%, 4%, and 5% YoY respectively<\/p>\n

\u2022 Domestic CASA ratio stood at 40.47% as on 30thSep\u201924<\/p>\n

\u2022 CD ratio stood at 79% as on 30thSep\u201924<\/p>\n

\u2022 GNPA decreased by 149 bps YoY to 3.48% in Sep\u201924 from 4.97% in Sep\u201923, NNPA reduced by 33 bps to 0.27% in Sep\u201924 from 0.60% in Sep\u201923<\/p>\n

\u2022 Provision Coverage Ratio (PCR, including TWO) improved by 196 bps YoY to 97.60% in Sep\u201924 from 95.64% in Sep\u201923<\/p>\n

\u2022 Slippage Ratio contained to 1.06% in Sep\u201924 in comparison to 1.77% in Sep\u201923<\/p>\n

\u2022 Capital Adequacy Ratio improved by 102 bps to 16.55%. CET-I improved by 144 bps YoY to 13.51%, Tier I Capital improved by 138 bps YoY to 14.01% in Sep\u201924<\/p>\n

\u2022 Earnings Per Share (EPS) increased to \u20b980.37 in Sep\u201924 from \u20b963.84 in Sep\u201923<\/p>\n

\u2022 Net Profit up by 13% QoQ to \u20b92707 Cr in Sep\u201924 from \u20b92403 Cr in Jun\u201924<\/p>\n

\u2022 Operating Profit improved by 5% QoQ to \u20b94728 Cr in Sep\u201924 from \u20b94502 Cr in Jun\u201924<\/p>\n

\u2022 Return on Assets (RoA) improved by 13 bps to 1.33% in Sep\u201924 from 1.20% in Jun\u201924<\/p>\n

\u2022 Yield on Advances (YoA) improved by 8 bps to 8.77% in Sep\u201924 from 8.69% in Jun\u201924<\/p>\n

\u2022 Yield on Investments (YoI) improved to 7.17% in Sep\u201924 from 7.15% in Jun\u201924<\/p>\n

\u2022 GNPA decreased by 29 bps to 3.48% in Sep\u201924 from 3.77% in Jun\u201924, NNPA reduced by 12 bps to 0.27% in Sep\u201924 from 0.39% in Jun\u201924<\/p>\n

\u2022 Return on Equity (RoE) increased by 128 bps to 21.04% in Sep\u201924 from 19.76% in Jun\u201924<\/p>\n

\u2022 Net Profit up by 38% YoY to \u20b95110 Cr in H1FY25 from \u20b93697 Cr in H1FY24<\/p>\n

\u2022 Operating Profit increased by 9% YoY to \u20b99230 Cr in H1FY25 from \u20b98437 Cr<\/p>\n

\u2022 Net Interest Income grew by 8% YoY to \u20b912372 Cr in H1FY25 from \u20b911444 Cr<\/p>\n

\u2022 Net Interest Margin (NIM) Domestic stood at 3.51% in H1FY25<\/p>\n

\u2022 Return on Assets (RoA) improved by 25 bps to 1.26% from 1.01% in H1FY24<\/p>\n

\u2022 Return on Equity (RoE) increased by 148 bps to 20.38% from 18.90% in H1FY24<\/p>\n

\u2022 Cost-to-Income Ratio stood at 44.73% in H1FY25<\/p>\n

Network:<\/p>\n

\u2022 The Bank has 5856 domestic branches (including 3 DBUs), out of which 1983 are Rural, 1532 are Semi-Urban, 1174 are Urban & 1167 are in Metro category. The Bank has 3 overseas branches & 1 IBU (Gift City Branch).<\/p>\n

\u2022 The Bank has 5217 ATMs & BNAs and 12993 number of Business Correspondents (BCs).<\/p>\n

Digital Banking:<\/p>\n

\u2022 Business of \u20b979,059 Cr has been generated through Digital Channels in H1FY25. A total of 102 Digital Journeys, Utilities and Processes have been launched so far.<\/p>\n

\u2022 Number of Mobile Banking users has grown by 20% year over year, reaching 1.81 Cr.<\/p>\n

\u2022 UPI users and Net Banking Users have seen a 27% & 13% YoY increase respectively, reaching 1.95 Cr and 1.11 Cr respectively.<\/p>\n

\u2022 The Credit Card users increased by 50% YoY to 2.65 lakh, while the total number of Point of Sale (PoS) terminals has increased by 56% YoY, reaching a total of 20,904.<\/p>\n

Awards & Accolades:<\/p>\n

\u2022 The Bank received the Best Performing Public Sector Bank Award in Tamil Nadu for SHG Bank Linkage Programme for the year 2022-23 & 2023-24 from Tamil Nadu Corporation for Development of Women Ltd.<\/p>\n

\u2022 The Bank received ‘First Prize’ for its outstanding performance in implementation of Official Language during FY2023-24 from Department of Financial Services, Ministry of Finance.<\/p>\n

\u2022 The Bank received 3rd Prize in The Rajbhasha Kirti Puraskar on the occasion of Hindi Diwas on 14.09.2024 from Ministry of Home Affairs.<\/p>\n

\u2022 Indian Bank won the 3rd prize for the Target Achiever in BEST campaign & Target Achiever Award in NOBOL campaign under Agriculture Infrastructure Fund launched by the Ministry of Agriculture & Farmers Welfare.<\/p>\n

\u2022 The Bank has been named as one of the Most Trustworthy Companies \u2013 2024 under Banking sector in India by the US-based \u201cNewsweek\u201d magazine.<\/p>\n

\u2022 Indian Bank proudly achieved the prestigious “Excellence Milestone” in the APY Mega Milestone Awards in the recent campaign (from 5th Jun\u201924 \u2013 5th Oct\u201924), surpassing the campaign target by reaching 110% achievement.<\/p>\n

Our Focus<\/p>\n

Our focus is to deliver value-added and customized solutions through the acumen of empowered employees and smart use of technology to cater the needs of the customers. 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. INDSMA\u20b9T- new omni channel banking application having wide range of features launched for customers. The app has several features viz., integrated bill payment, pay to contact, e-shopping \/ m-shopping, cross platform accessibility, goal planner etc providing a seamless and enriched experience for our valued customers. Further, 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. Bank is leveraging AI & GenAI for developing various models and use cases. 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\/Half Year ended 30th September 2024 Bank\u2019s Global Business is at \u20b912.44 lakh Cr, up by 10% YoY \u2022 Net Profit up by 36% YoY at \u20b92707 Cr in Sep\u201924 from \u20b91988 Cr in Sep\u201923 \u2022 Operating Profit improved by 10% YoY to \u20b94728 Cr in Sep\u201924 from \u20b94303 Cr in […]<\/p>\n","protected":false},"author":2,"featured_media":26140,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,29,10,30,38,11,27,34,28],"tags":[],"class_list":["post-26139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-classifieds","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\/26139","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=26139"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/26139\/revisions"}],"predecessor-version":[{"id":26141,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/26139\/revisions\/26141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/26140"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}