Indian Bank is a public sector bank established in 1907 and headquartered in Chennai, India. It provides a range of banking products and services to its customers, including personal banking, corporate banking, MSME banking, agricultural banking, and international banking.
The bank has a strong network of branches across India and has also expanded its operations overseas, with offices in Singapore and Colombo. Indian Bank has been recognized for its excellent customer service and has won several awards for its performance in the banking industry.
For the quarter ended December 31, 2022, Indian Bank reported a net profit of ₹1,454.16 crores, a significant increase compared to the same period in the previous year from ₹731.58 crores.
The bank’s total income for the quarter stood at ₹13,761.95 crores, an increase of 18% compared to the same quarter in the previous year. Its net interest income (NII) for the quarter was ₹11,836.38 crores, up by 19% compared to the same period last year.
Indian Bank’s asset quality improved during the quarter, with the gross non-performing assets (NPA) ratio improved to 6.53% in the current quarter from 9.13% in the same quarter previous year. Its net NPA ratio also improved to 1% from 2.72% during the same period.
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