Public sector ITBI Bank’s net profit jumped 60 per cent in the quarter ended December last year.
In this regard, the statement issued by the bank states: The net profit of the bank for the third quarter of the current financial year (October-December 2022) is Rs.927 crore. This is an increase of 60 percent compared to the same period of the previous financial year. At that time the net profit of the bank was Rs.578 crore.
Net interest income of the bank increased by 23 per cent to Rs 2,925 crore from Rs 2,383 crore in the 3rd quarter of last financial year.
The bank’s total non-performing loans stood at 21.68 percent during the period from October to December 2021. It has been reduced to 13.82 per cent in the same months of 2022, the report said.