Indian Bank Global Business reached ₹11.64 lakh Cr, up by 11% YoY

Net Profit up by 52%YoY at ₹2119Cr in Dec’23 from ₹1396 Cr in Dec’22 and Profit Before Tax up by 78% YoY at ₹2747Cr in Dec’23 from ₹1546 Cr in Dec’22.  Operating Profit improved to ₹4097Cr from ₹4061 Cr and Net Interest Income increased by 6% YoY to ₹5815 Cr in Dec’23 from ₹5499 Cr. Fee based income grew by 21%YoY to ₹852 Cr in Dec’23.

Return on Assets (RoA) and Return on Equity (RoE) up by 31 bps and 471 bps respectively. Yield on Advances (YoA) up by 59 bps to 8.78% in Dec’23 from 8.19% in Dec’22 and Yield on Investments (YoI) increased by 28 bps to 6.80% in Dec’23 from 6.52% in Dec’22.

Gross Advances increased by 13% YoY to ₹509800 Cr in Dec’23 from ₹451658Cr in Dec’22.

RAM (Retail, Agriculture & MSME) advances grew by 13%YoY to ₹296845Cr in Dec’23 from ₹262811 Cr in Dec’22. RAM contribution to gross domestic advances is 62.58%. Retail, Agri & MSME advances grew by 14%, 16% and 7%YoY respectively. Home Loan (Including mortgage) grew by 12% YoY, Auto Loan by 46% YoY and Personal Loan by 30% YoY. Priority Sector portfolio stood at ₹171480 Cr in Dec’23. Priority sector advances as a percentage of ANBC stood at 43.71% as against the regulatory requirement of 40%.

Total Deposits increased by 10% YoY and reached to ₹654154 Cr in Dec’23. CASA deposit grew by 8%, savings deposit grew by 7% and Current deposit by 12% YoY. Domestic CASA ratio stood at 41.14%. GNPA decreased by 206 bps YoY to 4.47% in Dec’23 from 6.53%, NNPA reduced by 47 bps to 0.53% from 1.0% in Dec’22. Provision Coverage Ratio (PCR, including TWO) improved by 231 bps YoY to 95.90%. Capital Adequacy Ratio stood at 15.58%. CET-I improved by 39bps YoY to 12.36%. Tier I Capital improved by 30bps YoY to 12.88%.

Author: nammamadrasnews

Leave a Reply