26.10.2023
Financial Results for Quarter/Half Year ended 30th September 2023
Bank’s Global Business reached 11.33 lakh Cr
Net profit up by 62% YoY, Operating Profit up by 19% YoY
Key Highlights (Quarter ended Sep’23 over Sep’22)
Net Profit up by 62% YoY at 1988 Cr in Sep 23 from 1225 Cr in Sep 22
Profit Before Tax up by 75% YoY at 2752 Cr in Sep 23 from 1571 Cr in Sep 22
- Operating Profit for Sep’23 up by 19% YoY at 4303 Cr from ₹3629 Cr in Sep 22
Net Interest Income increased by 23% YoY to 5741 Cr in Sep 23 from 4684 Cr in Sep 22
Fee based income grew by 11% YoY to 805 Cr in Sep 23 from 723 Cr in Sep 22
NIM (Domestic) increased to 3.52% in Sep 23 from 3.20% in Sep 22 Return on Assets (ROA
) improved to 1.06% in Sep 23 from 0.71% in Sep 22 on Equity (ROE) improved Return
by 607 bps to 19.90% in Sep 23 from 13.83% in Sep 22
Cost-to-Income Ratio stood at 44.36% in Sep 23 as against 44.27% in Sep’22
Total Business recorded a YoY growth of 10% reaching the level of *1133091 Cr in Sep 23
from 1026801 Cr in Sep 22
Advances increased by 12% YoY to 492288 Cr in Sep 23 from *437941 Cr in Sep 22 RAM (Retail, Agriculture & MSME) advances grew by 12% to 285891 Cr in Sep 23 from
*255256 Cr in Sep 22
Retail, Agri, MSME advances grew by 14%, 16% and 5% YoY respectively. RAM contribution
to domestic advances is 62%.
Home Loan (Including mortgage) grew by 13%, Auto Loan by 36% and Personal Loan by
49% YOY.
Deposits increased by 9% YoY and reached to *640803 Cr in Sep’23
CASA grew by 7%,
to 0.60% from 1.50% in Sep 22
91.08% in Sep 22
Capital
driven by 8% YoY growth in SB, CASA ratio stood at 40% GNPA
decreased by 233 bps YoY to 4.97% in Sep 23 from 7.30%, NNPA reduced by 90 bps
Provision Coverage Ratio (PCR, including TWO) improved by 456 bps YoY to 95.64% from
Adequacy Ratio stood at 15.53%, CET-1 at 12.07% & Tier-1 Capital at 12.63%
Key Highlights (Quarter ended Sep’23 over Jun’23)
Net Profit up by 16% QoQ to 1988 Cr in Sep’23 Profit Before Tax up
from *1709 Cr in Jun 23 by 15% QoQ at *2752 Operating Profit up by
Return on Assets (ROA) improved by
11 bps QoQ to 1.06% in Sep 23 Return on Equity (ROE) improved by 202 bps
percentage of ANBC stood at 42.83% as against the regulatory requirement of 40%
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rate Office
इंडिय
इलाह
QoQ to 19.90% in Sep 23 at *164341 Cr in Sep 23. Priority sector advances as a Priority Sector portfolio stood
Cr in Sep 23 from
2394 Cr in Jun 23 4% QoQ at 4303 Cr in Sep 23 from *4135 Cr in Jun 23
Net Interest Income stood at 5741 Cr in Sep 23 as against *5703 Cr in Jun 23
इंडियन बैंक Indian Bank
Key Highlights (Half Year ended Sep 23 over Sep’22)
Net Profit up by 52% YoY to 3697 Cr in H1FY24 from 2439 Cr in HIFY23
Profit Before Tax up by 76% YoY to 5146 Cr in H1FY24 from 2917 Cr in HIFY23
Operating Profit increased by 17% YoY to 8437 Cr in HIFY24 from 7194 Cr
Net Interest Income grew by 24% YoY to 11444 Cr in H1FY24 from 19218 Cr
Net Interest Margin (NIM) Domestic increased by 42 bps YoY to 3.57% from 3.15% in HIFY23
Return on Assets (ROA) improved by 29 bps to 1.01% from 0.72% in H1FY23
Return on Equity (ROE) increased by 490 bps to 18.90% from 14.00% in HIFY23
Cost-to-Income Ratio stood at 44.29% as against 43.14% in H1FY23
Network:
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).
The Bank has 4866 ATMs & BNAs and 10825 Business Correspondents (BCs).
Digital Banking:
Mobile Banking users increased by 47% YoY
UPI users and transactions increased by 34% YoY and 65% YoY respectively.
Bank has so far launched 63 Digital Journeys under its Digital Transformation Program.
86% of transactions are now carried out through digital channels.
Our Focus:
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.
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.
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