2024-01-24 16:10:48
Public sector bank Indian Bank has released its earnings results. Accordingly, the bank’s net profit recorded in December 2023 was Rs. 1396 crore in December 2023 to Rs. 2119 crores has increased. This has seen a growth of 52 percent over the previous year. The bank’s profit before tax for December 2022 was Rs. 1546 crore in December 2023 to Rs. 2747 crores has gone up. This is 78 percent more than the previous year.Samayam Tamil
Bank’s operating profit for December 2022 is Rs. 4061 crores has increased to 4097 crores in December 2023. Similarly, the net interest income in December 2023 will be Rs. 5499 crore in December 2023 to Rs. 5815 crores has increased. This is 6 percent more than the previous year. Fee-based revenue grew by 21 percent over the previous year to Rs. 852 crores has gone up.
Return on Assets (RoA) has grown from 0.80 percent in December 2022 to 1.11 percent in December 2023. Return on equity rose to 19.92 percent from 15.21 percent. Revenue on loans has grown to 8.78 percent from 8.19 percent. Similarly, return on investments increased from 6.52 percent to 6.80 percent.
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Total loans of the bank in December 2022 will be Rs. 451658 crore in December 2023 with a growth of 13 percent to Rs. 509800 crores has increased. Loans disbursed to retail, agriculture and MSME sectors amounted to Rs. 262811 crore from Rs. 296845 crore registering a growth of 13 percent. The contribution of the above three sectors to the total domestic debt is 62.58 percent.
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