Indian Bank Result

The lender's net interest income improved 12.83 per cent YoY to Rs 35,183 crore for Q2FY23, against Rs 31,184 crore last year

Analysts expect loan growth to be at 20 per cent YoY at Rs 887,600 crore, up from Rs 738,600 crore last year

Indian Bank on Friday reported a net profit of Rs 1,708.85 crore in the March-ended quarter. The lender had posted a net loss of Rs 217.74 crore in the same quarter of the preceding financial year 2019-20. Sequentially, the bank had posted a net profit of Rs 514.29 crore in the December quarter of the financial year 2020-21. The bank said figures of March 31, 2020, are related to standalone Indian Bank financing for the pre-amalgamation period, hence not comparable with the post amalgamation financials of December 2020 and March 2021. The erstwhile Allahabad Bank was amalgamated into Indian bank with effect from April 1, 2020. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20, Indian Bank said in a regulatory filing. For the full year of the financial year 2020-21, the net profit of the bank was recorded at Rs 3,004.68 crore. In the previous financial year, the bank had a total income o

The performance was in line with expectations, Padmaja Chunduru, MD & CEO, Indian Bank said

Indian banks' results for the fiscal year ended March 2018 are likely to be weak, S&P Global Ratings said today. "While recent announcements are net negative for bank results, we believe that rating downgrades are unlikely. This is because our expectations for fiscal 2018 were already low for most banks," S&P Global Ratings Credit Analyst Michael Puli said. The central bank's recently announced change to the recognition of restructured loans will probably foster early recognition and higher provisions across the banking sector. "We believe that announcements such as smoothing provisioning for mark-to-market losses on investments over four quarters will temper but not offset the immediate burden from strained performances," S&P said. In a report titled 'India's Banks Are Bracing For Weak Fiscal 2018 Results', S&P said it believes that at a system level the ratio of stressed assets is realistically around 13-15 per cent, compared with 12.3 per cent in the first half of ..

Bad loan provisions more than double in Q1 to Rs 681 cr from Rs 327 cr for Q1 of FY17

Bad loan provisions more than double in Q1 to Rs 681 cr from Rs 327 cr for Q1 of FY17