Industry

Indian Bank posts ₹1,089 cr. Q2 net profit

Indian Bank reported a standalone net profit of ₹1,089 crore for the quarter ended September, due to year-on-year increase in other income, reduction in provisions, and net interest income sequentially.

Net interest income declined 1% to ₹4,084 crore and net interest margin contracted to 2.89% from 3.06%. Non-interest income rose 26% due to increase in recovery of bad debts (450%) and forex income (42%).

Gross NPAs fell 33 bps to 9.56%, while net NPAs rose 30 bps to 3.26%. Capital Adequacy Ratio stood at 15.88%. Provisions and contingencies declined to ₹2,187 crore (₹2,234 crore).


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Printable version | Dec 5, 2021 5:08:56 AM | https://www.thehindu.com/business/Industry/indian-bank-posts-1089-cr-q2-net-profit/article37220049.ece

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