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Indian Bank News

Customer centricity will be our focus area: Indian Bank MD Binod Kumar

My expectation is there will be some moderation in credit growth while deposit growth may improve, said Indian Bank MD Binod Kumar

Customer centricity will be our focus area: Indian Bank MD Binod Kumar
Updated On : 30 Jan 2025 | 7:43 PM IST

Indian Bank announces Q3 FY25 results: Net profit rises 32% to Rs 2,910 cr

Asset quality and 'efficiency parameters' help business growth, says Chennai-based lender

Indian Bank announces Q3 FY25 results: Net profit rises 32% to Rs 2,910 cr
Updated On : 29 Jan 2025 | 5:17 PM IST

Indian Bank Q3FY25 results: Net profit surges 35% to hit Rs 2,852 cr

State-owned Indian Bank on Wednesday reported a 35 per cent increase in net profit at Rs 2,852 crore for the third quarter ended December 2024, helped by core income. The Chennai-based bank had earned a net profit of Rs 2,119 crore in the same quarter a year ago. Its total income increased to Rs 17,912 crore from Rs 16,099 crore a year ago, Indian Bank said in a regulatory filing. The interest income also rose to Rs 15,759 crore during the quarter under review compared to Rs 14,198 crore in the year-ago period. The company's net interest income increased by 10 per cent to Rs 16,415 crore from Rs 15,815 crore in December 2023. Its operating profit grew to Rs 4,749 crore against Rs 4,097 crore in the third quarter of the previous fiscal. On the asset quality front, the bank's gross non-performing assets ratio moderated to 3.26 per cent compared to 4.47 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.21 per cent from 0.53 per cent at the end of the third quar

Indian Bank Q3FY25 results: Net profit surges 35% to hit Rs 2,852 cr
Updated On : 29 Jan 2025 | 4:27 PM IST

Punjab National Bank, Indian Bank get new chief executive officers

He brings with him extensive experience in banking, spanning more than three decades in various capacities. As Executive Director of Punjab National Bank (PNB) since November 2022

Punjab National Bank, Indian Bank get new chief executive officers
Updated On : 16 Jan 2025 | 7:38 PM IST

Nifty options hint max pain at 23,450; Adani Energy, UBL see short-covering

Meanwhile, NSE F&O data shows that FIIs were net sellers in Nifty futures for the sixth straight trading session on Tuesday, with net sales of 70,318 contracts in this period.

Nifty options hint max pain at 23,450; Adani Energy, UBL see short-covering
Updated On : 15 Jan 2025 | 9:00 AM IST

SBI, BoB, BoI: How to trade PSU Bank stocks as index falls 20% from peak

The Nifty PSU Bank index has plunged over 20% in the last six months and now seen testing long-term support on the monthly chart. Will PSU Banks rebound or extend fall? Key levels to watch out for.

SBI, BoB, BoI: How to trade PSU Bank stocks as index falls 20% from peak
Updated On : 07 Jan 2025 | 10:47 AM IST

ATGL, IRB, Kalyan Jewellers top F&O buys in Jan thus far; FIIs short Nifty

Derivatives market data shows FIIs net sold 78,868 contracts of Nifty futures in first 4 trading days of Jan series while OI rose 74,992 contracts; thus implying build-up of short positions in Nifty.

ATGL, IRB, Kalyan Jewellers top F&O buys in Jan thus far; FIIs short Nifty
Updated On : 02 Jan 2025 | 9:18 AM IST

RBI Policy Impact: Financials gain, PSU Bank index rises 2% on CRR cut

Uco Bank, Indian Overseas Bank, Central Bank of India, Bank of Baroda, Canara Bank and Union Bank were up in the range of 2 per cent to 2.5 per cent.

RBI Policy Impact: Financials gain, PSU Bank index rises 2% on CRR cut
Updated On : 06 Dec 2024 | 11:21 AM IST

PSU stocks rally; RITES, Indian Bank, Bharat Dynamic, RVNL surge up to 13%

At 10:20 AM, the BSE PSU index, the top gainer among sectoral indices, was up 3.5 per cent at 19,856, as compared to the 1.5 per cent rise in the BSE Sensex

PSU stocks rally; RITES, Indian Bank, Bharat Dynamic, RVNL surge up to 13%
Updated On : 25 Nov 2024 | 11:07 AM IST

FSIB recommends Binod Kumar for the post of MD and CEO of Indian Bank

The Financial Services Institutions Bureau (FSIB) on Saturday recommended Binod Kumar for the post of Managing Director of Chennai-based Indian Bank. Kumar, who is serving as Executive Director of Punjab National Bank, will replace S L Jain on his superannuation next month. Declaring the result of the selection process, the FSIB -- the headhunter for directors of state-owned banks and financial institutions -- in a statement said the bureau interviewed 15 candidates on Sunday. "Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Binod Kumar for the position of MD & CEO in Indian Bank," it said. Earlier in April, the bureau had selected Asheesh Pandey for the position but the Reserve Bank of India (RBI) had raised some reservation over his name. Therefore, the bureau held a fresh interview to choose a new person in place of Pandey. The final decision on the FSIB recommendation would be taken by the ...

FSIB recommends Binod Kumar for the post of MD and CEO of Indian Bank
Updated On : 24 Nov 2024 | 8:22 PM IST

Indian Bank soars 17% in 2 days on healthy Q2 results; nears 52-week high

Motilal Oswal Financial Services reiterated its 'BUY' rating on Indian Bank with a revised target price of Rs 650 per share.

Indian Bank soars 17% in 2 days on healthy Q2 results; nears 52-week high
Updated On : 29 Oct 2024 | 2:54 PM IST

Indian Bank Q2FY25 results: Net profit rises 36% to Rs 2,707 crore

The net interest margin (NIM) declined by seven basis points (bps) to 3.39 per cent in Q2FY25 compared to 3.46 per cent in Q2FY24

Indian Bank Q2FY25 results: Net profit rises 36% to Rs 2,707 crore
Updated On : 28 Oct 2024 | 6:11 PM IST

Indian Bank Q2FY25 results: Net profit increases 36% to Rs 2,707 cr

State-owned Indian Bank on Monday reported 36 per cent increase in profit at Rs 2,707 crore for the second quarter ended September 2024. The Chennai-based lender had earned a net profit of Rs 1,988 crore in the same quarter a year ago. Total income increased to Rs 17,770 crore during the quarter under review from Rs 15,736 crore in the same period last year, Indian Bank said in a regulatory filing. The bank reported interest income of Rs 15,348 crore during the quarter compared to Rs 13,743 crore in the same period a year ago. Net Interest Income (NII) improved to Rs 6,194 crore, from Rs 5,741 crore in the second quarter of previous year, registering an increase of 8 per cent. As regards asset quality, the bank witnessed improvement with gross Non-Performing Assets (NPAs) declining to 3.48 per cent of gross loans by the end of September 2024 from 4.97 per cent a year ago. Similarly, net NPAs or bad loans moderated to 0.27 per cent from 0.60 per cent at the end of the second quart

Indian Bank Q2FY25 results: Net profit increases 36% to Rs 2,707 cr
Updated On : 28 Oct 2024 | 3:38 PM IST

Nifty PSU Bank index soars 4%; Indian Bank, BOB zoom up to 12% post Q2 nos

At 02:20 pm; the Nifty PSU Bank index was the top gainer among sectoral indices, up 4 per cent, as compared to 0.8 per cent rise in Nifty 50.

Nifty PSU Bank index soars 4%; Indian Bank, BOB zoom up to 12% post Q2 nos
Updated On : 28 Oct 2024 | 3:07 PM IST

Power Grid Corporation, Indian Bank raise Rs 5,000 crore each in single day

Infrastructure bonds have a tenor of at least seven years and the proceeds are utilised by banks to fund long-term infrastructure projects

Power Grid Corporation, Indian Bank raise Rs 5,000 crore each in single day
Updated On : 24 Oct 2024 | 8:59 PM IST

Nifty PSU Bank index rises 2% after Bank of Baroda posts steady Q2 numbers

Analysts at Elara Capital said no significant asset quality challenges and steady growth may ensure rerating for some PSU banks (after recent correction) on earnings stability.

Nifty PSU Bank index rises 2% after Bank of Baroda posts steady Q2 numbers
Updated On : 04 Oct 2024 | 12:48 PM IST

Nifty PSU Bank index dips below 200-DMA after more than 2 years; what next?

The PSU Bank index had zoomed 200% to a high of 8,053 after breaking above its 200-DMA in July 2022. At present, most PSU Bank stocks, barring SBI, are trading below this long-term moving average.

Nifty PSU Bank index dips below 200-DMA after more than 2 years; what next?
Updated On : 09 Sep 2024 | 12:40 PM IST

PSBs extend fall after Goldman Sachs downgrades SBI; Canara, UBI down 3%

The Nifty PSU Bank index, the top loser among sectoral indices, was down 1.1 per cent at 6,581.40, as compared to the 0.16 per cent rise in the Nifty 50 at 11:14 AM on Monday.

PSBs extend fall after Goldman Sachs downgrades SBI; Canara, UBI down 3%
Updated On : 09 Sep 2024 | 12:10 PM IST