Indian Bank announced their financial report for the Quarter ended Dec ’22 over Dec ’21 and Nine months Dec ’22 over Dec ’21. According to the report, Net Profit increased by 102% YoY at ₹1396 Cr in Dec’22 from ₹690 Cr in Dec’21. Operating profit for Dec’22 increased up by 24% YoY at ₹4061 Cr from ` 3288 Cr in Dec’21 and the Net Interest Income increased by 25% YoY to ₹5499 Cr in Dec’22 from ₹4395 Cr in Dec’21. The Fee-based income grew by 6% YoY to ₹704 Cr in Dec’22 and the Cost-to-Income Ratio stood at 43.71% in Dec’22 as against 44.75% in Dec’21.
The Domestic NIM increased to 3.74% in Dec’22 from 3.03% in Dec’21. The Return on Assets (RoA) improved to 0.80% in Dec’22 as against 0.43% in Dec’21 while the Return on Equity (RoE) increased to 15.21% for Dec’22 as against 8.26% in Dec’21. The Advances increased by 13% YoY to ₹451658 Cr in Dec’22 from ₹400432 Cr in Dec’21. The
RAM (Retail, Agriculture & MSME) advances grew by 12% YoY to ₹262811 Cr in Dec’22 from ₹233738 Cr in Dec’21 and RAM contribution to gross domestic advances is 62%. Retail, Agri & MSME advances grew by 15%, 15% and 6% YoY respectively. Home Loan (Including mortgage) grew by 12% YoY, Auto Loan by 27% YoY and Personal Loan by 35% YoY. Deposit increased by 6% YoY and reached ₹597114 Cr in Dec’22 while the CASA ratio stood at 40.4%.
The GNPA decreased by 260 bps YoY to 6.53% in Dec’22 from 9.13%, NNPA reduced by 172 bps to 1% from 2.72% in Dec’21. Provision Coverage Ratio (PCR, including TWO) improved by 810 bps YoY to 93.59% from 85.49% in Dec’21. The Capital Adequacy Ratio at 15.74%. CET-I improved by 59 bps YoY to 11.97% and the Tier I Capital improved by 55 bps YoY to 12.58%.
For the Nine months ended Dec ’22 over Dec ’21, the Net Profit up by 30% YoY to ₹3834 Cr in 9MFY23 from ₹2961 Cr in 9MFY22 and the Operating profit increased by 13% at ₹11255 Cr from ₹9979 Cr. Whereas the Net Interest Income grew by 18% to ₹14717 Cr in 9MFY23 from ₹12473 Cr in 9MFY22. The RoA and RoE improved to 0.75% and 14.42% in 9MFY23 from 0.62% and 12.24% in 9MFY22, respectively. The Cost-to-Income Ratio stood at 43.35% as against 43.99% in 9MFY22. The Net Interest Margin (NIM) Domestic increased by 42 bps to 3.35% in 9MFY23 as against 2.93% in 9MFY22.
The Bank has established 3 Digital Banking Units (DBUs) in South Delhi, Lucknow and Karaikal. The transactions through ATM, BNA & Digital channels improved by 7% YoY and the Mobile Banking users increased by 73% YoY, while its transactions increased by 85% YoY. While the UPI users and transactions increased by 19% YoY and 91% YoY respectively.
