INDIAN BANK Financial Results for Quarter/Half Year ended 30th September 2022

Bank’s Global Business reached 10.27 lakh Cr
Operating Profit up by 11% YOY
Net profit up by 12% YoY
Key Highlights (Quarter ended Sep’22 over Sep’21)
Net Profit up by 12% YoY at 1225 Cr in Sep 22 from 1089 Cr in Sep 21
Operating profit for Sep 22 up by 11% YoY at 3629 Cr from 3276 Cr in Sep 21
Net Interest Income increased by 15% YoY to 4684 Cr in Sep 22 from ₹4084 Cr in Sep 21
Fee based income grew by 18% YoY to 723 Cr in Sep 22
Cost-to-Income Ratio stood at 44.27% in Sep’22 as against 45.85% in Sep 21
Domestic NIM stood at 3.20% in Sep’22 as against 2.89% in Sep 21
Return on Assets (ROA) improved to 0.71% in Sep’22 as against 0.69% in Sep 21 Return on Equity (ROE) improved by 52 bps to 13.83% for Sep 22 against 13.31% in Sep 21
Advances increased by 14% YoY to 437941 Cr in Sep 22 from 385730 Cr in Sep’21
RAM (Retail, Agriculture & MSME) advances grew by 13% to 255256 Cr in Sep 22 from 226501 Cr in Sep’21
Retail, Agri, MSME advances grew by 14%, 15% and 9% YoY respectively. RAM contribution to domestic advances is 62%. Home Loan (Including mortgage) grew by
11%, Auto Loan by 28%, Personal Loan by 26% and Gold Loan by 19%
Deposit increased by 7% YoY and reached to 588860 Cr in Sep’22
CASA grew by 7%, driven by 9% YoY growth in CA and 7% YoY growth in SB,
CASA ratio stood at 41%
GNPA decreased by 226 bps YoY to 7.30% from 9.56%, NNPA reduced by 176 bps to 1.50% from 3.26% in Sep 21
Provision Coverage Ratio (PCR) improved by 776 bps YoY to 91.08% from 83.32% in Sep 21
Capital Adequacy Ratio at 16.15%. CET-I improved by 58 bps YoY to 12.26%
Tier I Capital improved by 55 bps YoY to 12.89%
Key Highlights (Quarter ended Sep’22 over Jun’22)
Net Profit rose to R1225 Cr in Sep’22 from 1213 Cr in Jun’22 Operating profit stood at 3629 Cr in Sep’22 as against 3564 Cr in Jun 22
Net Interest Income grew by 3% in Sep 22 to 4684 Cr from 4534 Cr in Jun 22 Non-Interest Income increased by 14% to 1828 Cr in Sep’22 from 1604 Cr in Jun’22 On a QoQ sequential basis Return on Assets (ROA) moderated by 2 bps to 0.71% in Sep 22 as against 0.73% in Jun’22.
Return on Equity (ROE) stood at 13.83% in Sep 22 as against 14.18% a quarter ago.
Cost-to-Income Ratio stood at 44.27% in Sep 22 as against 41.94% in the previous
quarter.
Net Interest Margin (NIM) Domestic increased by 10 bps QoQ to 3.20% in Sep 22 as against 3.10% in Jun’22.
Key Highlights (Half Year ended Sep’22 over Sep’21)
Net Profit up by 7% YoY to 2439 Cr in H1FY23 from 2271 Cr in H1FY22 Operating profit increased by 8% at *7194 Cr from ₹6691 Cr
Net Interest Income grew by 14% to 9218 Cr from *8078 Cr Return on Assets (ROA) remained unchanged at 0.72%
Return on Equity (ROE) stood at 14% as against 14.30% in H1FY22 Cost-to-Income Ratio stood at 43.14% as against 43.60% in H1FY22 Net Interest Margin (NIM) Domestic increased by 28 bps YoY to 3.15% as against
2.87%
Key Highlights of Business Performance as on 30th September 2022
Business:
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 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%.
Total Deposits grew by 7% 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 Cr in Sep’22. The share of CASA to deposits stood at 41%.
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%.
Network:
The Bank has 5728 domestic branches, out of which 1940 are Rural, 1496 are SemiUrban, 1157 are Urban & 1135 are in Metro category and 3 overseas branches. The Bank has 4825 ATMs & BNAs and 10256 number of BCs.
The era of digitisation has brought about paradigm shift in the technological approach of the banking industry as different alternate delivery channels are becoming popular day by day. The Bank has launched many digital products such as PAPL (Pre-approved personal loan), online KCC renewal, overdraft against digital “WAVE” deposits(ODAD), Mudra loan through digital mode, instant jewel loan under its Projectflagship
(World of Advanced Virtual Experience) to cater to prompt, hassle-free and customised offerings. Bank has also developed New Age Performance Management System (PMS) aimed at periodical assessment of performance with interactive dashboard.