Indian Bank announced their Financial report for the Quarter Yearly ended Sep ’22 over Sep ’21 and Jun ’22 and Half Yearly ended Sep ’22 over Sep ’21 on 3rd November 2022. According to the reports, their Total Business recorded a YoY growth of 10% reaching the level of ₹1026801 Cr in Sep’22 as against ₹937202 Cr in Sep’21. It stood at ₹1009454 Cr in Jun’22. Advances grew by 14% to ₹437941 Cr in Sep’22 over ₹385730 Cr a year ago. Growth in the RAM sector is recorded at 13% of which Retail & Agriculture grew by 14% and 15% respectively. On a sequential quarterly basis, advances grew by 3%.
The Total Deposits grew by7% YoY to ₹588860 Cr in Sep’22 as compared to ₹551472 Cr during the corresponding period a year ago. On a sequential quarterly basis, deposits grew by 1%. CASA deposits recorded a YoY growth of 7% and stood at ₹241078 Crin Sep’22. The share of CASA to deposits stood at41%. Priority Sector portfolio stood at₹158187 Cr in Sep’22. Priority sector advances as a percentage of ANBC stood at 48% as against the regulatory requirement of 40%.
According to the Quarter Yearly reports that ended Sep ’22 over Sep ’21, the Net Profit of Indian Bank was up by 12% YoY at ₹1225 Cr in Sep’22 from ₹1089 Cr in Sep’21. Its Operating profit for Sep’22 is up by 11% YoY at ₹3629 Cr from ₹3276 Cr in Sep’21. The Net Interest Income increased by 15% YoY to ₹4684 Cr in Sep’22 from ₹4084 Cr in Sep’21 and the Fee-based income grew by 18% YoY to ₹723 Cr in Sep’22. The Cost-to-Income Ratio stood at 44.27% in Sep’22 as against 45.85% in Sep’21 while the Domestic NIM stood at 3.20% in Sep’22 as against 2.89% in Sep’21. The Return on Assets (RoA) improved to 0.71% in Sep’22 as against 0.69% in Sep’21 and Return on Equity (RoE) improved by 52 bps to 13.83% for Sep’22 against 13.31% in Sep’21. The Advances increased by 14% YoY to ₹437941 Cr in Sep’22 from ₹385730 Cr in Sep’21.
The RAM (Retail, Agriculture & MSME) advances grew by 13% to ₹255256 Cr in Sep’22 from ₹226501 Cr in Sep’21 and the individual advances grew by 14%, 15%, and 9% YoY respectively. RAM contribution to domestic advances is 62%. Home Loans (Including mortgages)grew by 11%, Auto loans by 28%, Personal loans by 26%, and Gold loans by 19%. The Deposit increased by 7% YoY and reached ₹588860 Cr in Sep’22.
The CASA grew by 7%, driven by 9% YoY growth in CA and 7% YoY growth in SB, and the CASA ratio stood at 41%. The GNPA decreased by 226 bps YoY to 7.30% from 9.56%, and NNPA reduced by 176 bps to 1.50% from 3.26% in Sep’21. The Provision Coverage Ratio (PCR) improved by 776 bps YoY to 91.08% from 83.32% in Sep’21. The Capital Adequacy Ratio is at 16.15%. CET-I improved by 58 bps YoY to 12.26% Tier I Capital improved by 55 bps YoY to 12.89%.
The network of the Bank has 5728 domestic branches, out of which 1940 are Rural, 1496are Semi-Urban, 1157are Urban &1135 are in the Metro category, and 3 overseas branches. The Bank has 4825 ATMs & BNAs and 10256 BCs.
