'Indian Bank has
reported 41% growth in net profit to Rs 2403.42 crore for the quarter ended
June 2024 (Q1FY2025). The bank has posted 8% growth in net interest income
(NII), while the core fee income of the bank also improved 17% in Q1FY2025. The
Net Interest Margin (NIM) of the bank improved on sequential basis to 3.44% in
Q1FY2025 from 3.43% in Q4FY2024, while eased from 3.61% in the corresponding
quarter of previous year.
On business front, the
bank as has posted 11% growth in business with 12% surge in loan book. The
asset quality of the bank has improved in Q1FY2025. Bank has witnessed
substantial increase in the credit to deposit ratio to 79.1% at end June 2024
from 77.1% at end June 2023. ASA ratio of the bank has eased to 39.0% at end
June 2024 from 40.3% at end June 2023.
Asset quality improves: The bank has continued
to improve asset quality in Q1FY2025.
The fresh slippages of
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(18-Nov-2024)
Bharat Forge
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