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Indian Bank Q2 net at Rs 412 crore versus Rs 1,755 cr loss a year ago

Lender expect credit growth to be 8-10 % this fiscal

Indian bank, PSB,
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GNPA dropped to Rs 36,223.13 crore from 39,990.06 crore in first quarter and Rs 14,010.69 crore, a year ago

T E Narasimhan Chennai
Indian Bank has reported a consolidated net profit of Rs 412 crore during the second quarter of FY21 as against a net loss of Rs 1,755 crore for Q2 FY20.  Last year's consolidated loss was due to the amalgamationn with Allahabad Bank which reported a loss last year in the second quarter. On a standalone basis, Indian Bank had a profit of Rs 358.56 crore during the second quarter of FY20.

Padmaja Chunduru, MD & CEO, Indian Bank said, "This has been a quarter of strong growth in all key parameters. We expect to sustain the performance in the third quarter