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30-Jul-2024

Indian Bank

Sustain healthy performance


'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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