08.05.2023
Financial Results for the Quarter/Year ended as on 31 March 2023 Bank’s Global Business reached 10.95 lakh Cr
Operating Profit up by 47% YoY for Q4FY23 & 20% YoY for FY23 Net profit up by 47% YoY for Q4FY23 & 34% YoY for FY23
Key Highlights (Quarter ended Mar 23 over Mar’22)
Net Profit up by 47% YoY ot 1447 Cr in Mar 23 from 1984 Cr in Mar 22 Operating Profit up by 47% YoY at 4016 Cr in Mar 23 from 2738 Cr in Mar 22
Net Interest Income increased by 29% YoY to 5508 Cr in Mar 23 from 14255 Cr in Mar 22
Fee based Income grew by 12% YoY to 1914 Cr in Mar 23
Cost-to-Income Ratio improved to 46.47% in Mar 23 from 53.03% in Mar 22 Domestic NIM improved to 3.59% in Mar 23 from 2.87% in Mar 22
Return on Assets (ROA) improved to 0.82% in Mar 23 from 0.62% in Mar 22
Return on Equity (ROE) increased to 15.48% in Mar 23 from 11.70% in Mar 72
- Advances increased by 14% YoY to 7473586 Cr in Mor 23 from 415625 Cr in Mar 22 RAM (Retail, Agriculture & MSME) advances
grew by 12% YoY to 272679 Cr in Mar 23
from 242700 Cr in Mor 22
RAM contribution to gross domestic advances is 61%. Retail, Agri & MSME advances grew by 13%, 16% & 7% YoY respectively. Home Loan (Including mortgage) grew by 11% YoY, Auto Loan by 28% YoY and Personal Loan by 46% YoY
Deposits increased by 5% YoY and reached to $621166 Cr in Mar 23
CASA ratio stood at 42% GNPA decreased by 252 bps
YoY to 5.95% in Mar 23 from 8.47% in Mar 22, NNPA reduced by 137 bps to 0.90% from 2.27% in Mar 22 Provision Coverage Rotio (PCR, including TWO) improved by 644 bps YoY to 93.82% from
87.38% in Mar 22 Capital Adequacy Ratio at 16.49%. CET 1 improved by 36 bps YoY to 12.89%
Tier I Capital improved by 31 bps YoY to 13.48%
Key Highlights (Year ended Mar 23 over Mar’22)
Net Profit up by 34% YoY to 15282 Cr in FY23 from 3945 Cr in FY22 Operating Profit increased by 20% YoY at 15271 Cr in FY23 from 12717 Cr in FY22
Net Interest Income grew by 21% to 20225 Cr in FY23 from 16728 Cr in FY22
Return on Assets (ROA) increased to 0.77% in FY23 from 0.63% in FY22
Return on Equity (ROE) improved to 14.73% in FY23 from 12.13% in FY22
Cost-to-Income Ratio improved to 44.20% in FY23 from 46.21% in FY22
Net Interest Margin (NIM) Domestic increased by 50 bps to 3.41% in FY23 from 2.91% in FY22
The Board of Directors has recommended a dividend of 18.60 per equity share (86%) for
FY23 subject to requisite approvals
Key Highlights of Business Performance as on 31 March 2023
Business:
Total Business recorded a YoY growth of 8% reaching the level of 31094752 Cr in Mar 23 from 1009243 Cr in Mar 22 Advances grew by 14% to 3473586 Cr in Mar 23 over 415625 Cr a year ago. Growth in
RAM sector is recorded at 12% YoY of which Retall, Agriculture & MSME grew by 13%, 16% & 7% YoY respectively…
Deposits grew by 5% YoY to 621166 Cr in Mar 23 as compared to 593618 Cr during the corresponding period a year ago.
CASA deposits recorded a YoY growth of 5% and stood at 260809 Cr in Mar 23. The share of CASA to deposits stood at 42%.
Priority Sector portfolio stood at 3152992 Cr in Mar 23. Priority sector advances as a
- percentage of ANBC stond at 44% as against the regulatory
Network
requirement of 40%
The Bank has 5787 domestic branches, out of which 1964 are Rural, 1517 are Semi-Urban, 1165 are Urban & 1141 are in Metro category. The Bank has 3 overseas branches & 1 BU The Bank has 4929 ATMs & BNAs and 10750 number of Business Correspondents (BCs).
has established 3 Digital Banking Units (DBUS) at South Delhi, Lucknow and Transactions through ATM, BNA & Digital channels improved by 8% YoY in Q4FY23 Mobile Banking users increased by 68% YoY, while its transactions increased by 72% YoY UPI users and transactions increased by 27% YoY and 109% YoY respectively
During the year, the Bank has launched various Digital Journeys under its Digital
Transformation Programme.
The Bank Karaikal
Digital Banking:
Awards & Accolades: Bank received “Golden Peacock National Training Award-2023” in Mar 23 for excellence in
training practices from Cabinet member & Hon’ble Minister of UAE Excellence Awards, 2021-22 by the former President of India Shri Ramnath Kovind Jan 23. in
. Bank awarded as the 2 Best Bank at National Level Award at 14th SFBCK Banking
Bank was adjudged the Company of the Year at Mint W3 awards 2023 in Feb 23 Bank bagged “
CGTMSE Achievement Award FY23″ in Apr 23 for best efforts in Information
Dissemination.
Bank emerged as the winner in BFSI Award 2023 in Best Brand category in Apr 23 for spurring growth amidst global slowdown.
Indian Bank
Our Focus
Our focus is to deliver value-added and suitable 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.
Bank has launched an array of digital products to facilitate customers for seamless and convenient banking experience. 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, etc. 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.
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.