Indian Bank

Indian Bank extends fall into 2nd day, hits 2-month low; down 10% in 4 days

The current trend of higher recoveries than slippages is expected to continue through FY25, while the bank's ability to control slippage and maintain asset quality will remain a key monitorable

Banks to NBFCs, customer complaints rise as redressal system slows down

Complaints about mobile or e-banking form majority of those received by the RBI ombudsman against banks

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

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 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 LBO Result 2024: Scores out at official website, check details

Indian Bank has announced the LBO Result 2024 scorecard. Candidates appeared for Local Bank Officers online exam can download the scorecard via official website of Indian Bank at indianbank.in

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

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

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 ...

Public sector bank heads at BS BFSI Summit: The best is still to come

Heads of public sector banks discuss the present and future of the banking sector in conversation with consulting editor Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit

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 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 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

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.

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

HDFC Bank says sequential rise in deposits outpaced loan growth in Q2

Deposits rose 5.1 per cent from the previous quarter to Rs 25 trillion, after no sequential change in April-June

PSU Banks in focus: BoB, UBI among 5 stocks trading at key support levels

Shares of Bank of Baroda, Union Bank of India and Indian Bank can potentially rally up to 15% if these support levels are held; check key support and resistance levels for 5 PSU bank stocks here.

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments

Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO

Public sector Indian Bank has targeted to recover about Rs 7,000 crore during the current financial year, a top official said on Tuesday. The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time, the bank's Managing Director and CEO Shanti Lal Jain said here. The city-headquartered Indian Bank has reported a 41 per cent jump in its net profit to Rs 2,403 crore for the April-June 2024 quarter due to a decline in bad loans. It had earned a net profit of Rs 1,709 crore in the corresponding quarter of last year. "Last time, we recovered about Rs 8,700-Rs 8,800 crore. But what happens is slowly, this number may come down and this time we have planned that we will be making a recovery of around Rs 7,000 crore," Jain told reporters. Elaborating, he said recovery of Rs 7,000 crore for a financial year comes to Rs 1,750 per quarter and the bank in April-June 2024 quarter recovered Rs 1,937 cro

Banks face 7-year debt recovery backlog; Government plans capacity boost

More than 200,000 cases are pending in Debt Recovery Tribunals (DRTs), which currently manage only 30,000 to 40,000 cases each year