'Indian Bank conducted a conference call on 28 October to discuss its financial results for the quarter ended September 2024. Shanti Lal Jain, MD&CEO of the bank addressed the call:
Highlights:
The business of the bank has increased 10% yoy to Rs 12.44 lakh crore end September 2024, driven by 8% rise in deposits to Rs 6.93 lakh crore and 12% growth in advances to Rs 5.51 lakh crore.
The bank has recorded strong 36% growth in the net profit for Q2FY25, driven by 8% increase in NII, 11% growth in the fee income and strong surge in the bad debt recovery.
The bank has witnessed decline in the net interest margin by 5 bps qoq to 3.39% in Q2FY2025 with domestic NIM at 3.49%, mainly on account of reclassification of penal interest charges recognition. The bank aims to maintain NIM at 3.4%.
The bank has improved RoA on yoy basis to 1.33% in Q2FY2025 from 1.06% in in Q2FY24 to 1.33% in Q2FY25. RoE was strong at 21.04% in Q2FY25.
The treasury ...
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