'Indian Bank conducted a conference call on 29 July 2024 to discuss its financial results for the quarter ended June 2024. Shanti Lal Jain, MD&CEO of the bank addressed the call:
Highlights:
The bank has recorded 11% growth in the business volumes,
10% in deposits and 12% in advances end June 2024 over June 2023. The bank is
targeting deposits growth of 8-10% and loan growth of 11-13% for FY2025.
The CASA deposits of the bank have moved up 6%, while the
CASA deposits has remained stable at 41%.
The retail, agriculture and MSME (RAM) loan book of the bank
has increased 13% with retail loan growth at 14%, agriculture 18% and MSME 6%
end June 2024.
The bank has improved domestic NIM from 3.52% to 3.53% in
Q1FY2025. The bank has recorded RoA of 1.02% for Q1FY2025.
The bank expects to maintain overall NIM at 3.4%, while
aiming to exceed the guidance.
The bank has witnessed impact on yield on advan...
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