{"id":26363,"date":"2025-01-29T17:27:11","date_gmt":"2025-01-29T17:27:11","guid":{"rendered":"https:\/\/faceinews.com\/?p=26363"},"modified":"2025-01-29T17:27:11","modified_gmt":"2025-01-29T17:27:11","slug":"indian-bank-financial-results-for-the-quarter-nine-month-ended-31st-december-2024","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=26363","title":{"rendered":"Indian Bank : Financial Results for the Quarter\/Nine Month ended 31st December 2024"},"content":{"rendered":"

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Financial Results for the Quarter\/Nine Month ended 31st December 2024<\/p>\n

Bank\u2019s Global Business is at \u20b912.61 lakh Cr, up by 8% YoY<\/p>\n

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\u2022 Net Profit up by 35% YoY at \u20b92852 Cr in Dec\u201924 from \u20b92119 Cr in Dec\u201923<\/p>\n

\u2022 Operating Profit improved by 16% YoY to \u20b94749 Cr in Dec\u201924 from \u20b94097 Cr in Dec\u201923<\/p>\n

\u2022 Net Interest Income increased by 10% YoY to \u20b96415 Cr in Dec\u201924 from \u20b95815 Cr in Dec\u201923<\/p>\n

\u2022 Fee based income grew by 9% YoY to \u20b9931 Cr in Dec\u201924 from \u20b9852 Cr in Dec\u201923<\/p>\n

\u2022 Return on Assets (RoA) up by 28 bps to 1.39% in Dec\u201924 from 1.11% in Dec\u201923<\/p>\n

\u2022 Return on Equity (RoE) increased by 108 bps to 21.00% in Dec\u201924 from 19.92% in Dec\u201923<\/p>\n

\u2022 Yield on Advances (YoA) up by 14 bps to 8.92% in Dec\u201924 from 8.78% in Dec\u201923<\/p>\n

\u2022 Yield on Investments (YoI) increased by 32 bps to 7.12% in Dec\u201924 from 6.80% in Dec\u201923<\/p>\n

\u2022 Cost-to-Income Ratio reduced by 234 bps to 44.56% in Dec\u201924 from 46.90% in Dec\u201923<\/p>\n

\u2022 Gross Advances increased by 10% YoY to \u20b9559199 Cr in Dec\u201924 from \u20b9509800 Cr in Dec\u201923<\/p>\n

\u2022 RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to \u20b9334739 Cr in Dec\u201924 from \u20b9296845 Cr in Dec\u201923<\/p>\n

\u2022 RAM contribution to gross domestic advances stood at 64.35%. Retail, Agri & MSME advances grew by 16%, 13.5% and 8% YoY respectively. Home Loan (including mortgage) grew by 12% YoY in Dec\u201924<\/p>\n

\u2022 Priority sector advances as a percentage of ANBC stood at 43.85% (\u20b9192761 Cr) in Dec\u201924 as against the regulatory requirement of 40%<\/p>\n

\u2022 Total Deposits increased by 7% YoY and reached to \u20b9702282 Cr in Dec\u201924 as against \u20b9654154 Cr in Dec\u201923. Current, Savings & CASA deposits grew by 5%, 3.5%, and 4% YoY respectively<\/p>\n

\u2022 Domestic CASA ratio stood at 40% as on 31st Dec\u201924<\/p>\n

\u2022 CD ratio stood at 79.63% as on 31st Dec\u201924<\/p>\n

\u2022 GNPA% decreased by 121 bps YoY to 3.26% in Dec\u201924 from 4.47% in Dec\u201923, NNPA% reduced by 32 bps to 0.21% in Dec\u201924 from 0.53% in Dec\u201923<\/p>\n

\u2022 Provision Coverage Ratio (PCR, including TWO) improved by 219 bps YoY to 98.09% in Dec\u201924 from 95.90% in Dec\u201923<\/p>\n

\u2022 Slippage Ratio improved by 50 bps to 0.78% in Dec\u201924 from1.28% in Dec\u201923<\/p>\n

\u2022 Capital Adequacy Ratio improved by 34 bps to 15.92%. CET-I improved by 91 bps YoY to 13.27%, Tier I Capital improved by 89 bps YoY to 13.77% in Dec\u201924<\/p>\n

\u2022 Earnings Per Share (EPS) increased by 26% to \u20b984.70 in Dec\u201924 from \u20b967.12 in Dec\u201923<\/p>\n

\u2022 Net Profit up by 5% QoQ to \u20b92852 Cr in Dec\u201924 from \u20b92707 Cr in Sep\u201924<\/p>\n

\u2022 Return on Assets (RoA) improved by 6 bps to 1.39% in Dec\u201924 from 1.33% in Sep\u201924<\/p>\n

\u2022 Yield on Advances (YoA) improved by 15 bps to 8.92% in Dec\u201924 from 8.77% in Sep\u201924<\/p>\n

\u2022 NIM (Domestic) increased by 8 bps to 3.57% in Dec\u201924 from 3.49% in Sep\u201924<\/p>\n

\u2022 GNPA decreased by 22 bps to 3.26% in Dec\u201924 from 3.48% in Sep\u201924, NNPA reduced by 6 bps to 0.21% in Dec\u201924 from 0.27% in Sep\u201924<\/p>\n

\u2022 Slippage ratio decreased to 0.78% in Dec\u201924 from 1.06% in Sep\u201924.<\/p>\n

\u2022 Credit Cost decreased by 18 bps to 0.47% in Dec\u201924 from 0.65% in Sep\u201924<\/p>\n

\u2022 Net Profit up by 37% YoY to \u20b97962 Cr in 9MFY25 from \u20b95816 Cr in 9MFY24<\/p>\n

\u2022 Operating Profit increased by 11.5% YoY to \u20b913980 Cr in 9MFY25 from \u20b912535 Cr in 9MFY24<\/p>\n

\u2022 Net Interest Income grew by 9% YoY to \u20b918787 Cr in 9MFY25 from \u20b917258 Cr in 9MFY24<\/p>\n

\u2022 Net Interest Margin (NIM) Domestic stood at 3.53% in 9MFY25<\/p>\n

\u2022 Return on Assets (RoA) improved by 27 bps to 1.31% in 9MFY25 from 1.04% in 9MFY24<\/p>\n

\u2022 Return on Equity (RoE) increased by 137 bps to 20.62% in 9MFY25 from 19.25% in 9MFY24<\/p>\n

\u2022 Cost-to-Income Ratio reduced by 50 bps to 44.67% in 9MFY25 from 45.17% in 9MFY24<\/p>\n

Network:<\/p>\n

\u2022 The Bank has 5877 domestic branches (including 3 DBUs), out of which 1987 are Rural, 1543 are Semi-Urban, 1179 are Urban & 1168 are in Metro category. The Bank has 3 overseas branches & 1 IBU (Gift City Branch).<\/p>\n

\u2022 The Bank has 5224 ATMs & BNAs and 13292 number of Business Correspondents (BCs).<\/p>\n

Digital Banking:<\/p>\n

\u2022 Business of \u20b91,18,981 Cr has been generated through Digital Channels in 9MFY25. A total of 117 Digital Journeys, Utilities and Processes have been launched so far.<\/p>\n

\u2022 Number of Mobile Banking users has grown by 18% year over year, reaching 1.86 Cr.<\/p>\n

\u2022 UPI users and Net Banking Users have seen a 24% & 9% YoY increase respectively, reaching 2.04 Cr and 1.12 Cr respectively.<\/p>\n

\u2022 The Credit Card users increased by 52% YoY to 2.83 lakh. The transactions in Point of Sale (PoS) terminals has increased by 23% YoY, reaching to 35 lakh.<\/p>\n

Awards & Accolades:<\/p>\n

\u2022 The Bank received prestigious SKOCH Award for \u201cProject WAVE\u201d, an Indian Bank’s digital transformation journey and for \u201cSMA Collection Proclivity Predictor\u201d- a model built to predict the probability of default for Special Mention Accounts (SMA) and reduce risks by outlining a targeted collection journey.<\/p>\n

\u2022 The Bank was honoured with the \u201cBest Public Sector Bank\u201d award in the organisational category and the MD & CEO of the Bank received \u201cCEO of the Year\u201d award at Tamil Nadu Leadership Awards 2024.<\/p>\n

\u2022 The Vertical Head of CMS\/SCF conferred with PT100 Leadership Award as an \u201cInnovator & Disruptor in Asia Pacific\u201d at the Payments Transformers conference in Singapore.<\/p>\n

\u2022 In the 9th Banking Leadership Summit 2024 of Indian Investors Federation, the Bank received award for \u201cBest Infrastructure & Ambience in UP\u201d, \u201cBest Marketing Strategies for business in the year 2024 in UP\u201d and runner up for \u201cBanker of the Year 2024\u201d.<\/p>\n

\u2022 In the IBA Annual Banking Technology Conference, 2024 \u2013 Special Mention under Large Bank segment, the Bank received award for \u201cBest Digital Sales, Payments & Engagement\u201d, \u201cBest Tech Talent & Org., \u201cBest AI and ML Adoption\u201d and \u201cBest FI\u201d.<\/p>\n

\u2022 During the 5th Annual BFSI Technology Excellence Awards 2024, the Bank was awarded \u201cBest Cloud Initiative of the Year\u201d \u2013 ET Edge recognition 2024 and \u201cBest Team Project in Cloud Implementation (PSB)\u201d.<\/p>\n

Our Focus<\/p>\n

Our focus is to deliver value-added, innovative and tailored solutions to the customers through omni-channel experience and with dedicated and skilled workforce. We will focus on achieving compliant, sustainable and inclusive growth, with a clear emphasis on customer service, CASA, MSME, and continued digital transformation.<\/p>\n

We aim to become preferred choice of customer for catering to all financial & banking needs.<\/p>\n

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Financial Results for the Quarter\/Nine Month ended 31st December 2024 Bank\u2019s Global Business is at \u20b912.61 lakh Cr, up by 8% YoY \u2022 Net Profit up by 35% YoY at \u20b92852 Cr in Dec\u201924 from \u20b92119 Cr in Dec\u201923 \u2022 Operating Profit improved by 16% YoY to \u20b94749 Cr in Dec\u201924 from \u20b94097 Cr in […]<\/p>\n","protected":false},"author":2,"featured_media":26364,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,29,10,13,25,30,38,11,27,34,28],"tags":[],"class_list":["post-26363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-classifieds","category-corporate","category-education","category-entertainment","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\/26363","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=26363"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/26363\/revisions"}],"predecessor-version":[{"id":26365,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/26363\/revisions\/26365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/26364"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}