Indian Bank has announced its Q3FY25results. Net Profit up by 35% YoY at ₹2852 Cr in Dec’24 from ₹2119 Cr in Dec’23

Financial Results for the Quarter/Nine Month ended 31st December 2024 Bank’s Global Business is at ₹12.61 lakh Cr, up by 8% YoY

Net Profit up by 35% YoY at ₹2852 Cr in Dec’24 from ₹2119 Cr in Dec’23

·          Operating Profit improved by 16% YoY to ₹4749 Cr in Dec’24 from ₹4097 Cr in Dec’23

·          Net Interest Income increased by 10% YoY to ₹6415 Cr in Dec’24 from₹5815 Cr in Dec’23

·          Fee based income grew by 9% YoY to ₹931 Cr in Dec’24 from ₹852 Cr in Dec’23 

·          Return on Assets (RoA) up by 28 bps to 1.39% in Dec’24 from 1.11% in Dec’23

·          Return on Equity (RoE) increased by 108 bps to 21.00% in Dec’24 from 19.92% in Dec’23

·          Yield on Advances (YoA) up by 14 bps to 8.92% in Dec’24 from 8.78% in Dec’23

·          Yield on Investments (YoI) increased by 32 bps to 7.12% in Dec’24 from 6.80% in Dec’23

·          Cost-to-Income Ratio reduced by 234 bps to 44.56% in Dec’24 from 46.90% in Dec’23

·          Gross Advances increased by 10% YoY to ₹559199 Cr in Dec’24 from₹509800 Cr in Dec’23

·          RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to ₹334739 Cr in Dec’24 from ₹296845 Cr in Dec’23

·          RAM contribution to gross domestic advances stood at 64.35%. Retail, Agri & MSME advances grew by 16%, 13.5% and 8% YoY respectively. Home Loan (including mortgage) grew by 12% YoY in Dec’24

·          Priority sector advances as a percentage of ANBC stood at 43.85% (₹192761 Cr) in Dec’24 as against the regulatory requirement of 40%

·          Total Deposits increased by 7% YoY and reached to ₹702282 Cr in Dec’24 as against ₹654154 Cr in Dec’23. Current, Savings & CASA deposits grew by 5%, 3.5%, and 4% YoY respectively

·          Domestic CASA ratio stood at 40% as on 31^st Dec’24

·          CD ratio stood at 79.63% as on 31^st Dec’24

·          GNPA% decreased by 121 bps YoY to 3.26% in Dec’24 from 4.47% inDec’23, NNPA% reduced by 32 bps to 0.21% inDec’24from 0.53% in Dec’23

·          Provision Coverage Ratio (PCR, including TWO) improved by 219 bps YoY to 98.09% in Dec’24 from 95.90% in Dec’23

·          Slippage Ratio improved by 50 bps to 0.78% in Dec’24 from1.28% in Dec’23

·          Capital Adequacy Ratio improved by 34 bps to 15.92%. CET-I improved by 91 bps YoY to 13.27%, Tier I Capital improved by 89 bps YoY to 13.77% in Dec’24

·          Earnings Per Share (EPS) increased by 26% to ₹84.70 in Dec’24 from ₹67.12 in Dec’23

·          Net Profit up by 5% QoQ to ₹2852 Cr in Dec’24 from ₹2707 Cr in Sep’24

·          Return on Assets (RoA) improved by 6 bps to 1.39% in Dec’24 from 1.33% in Sep’24

·          Yield on Advances (YoA) improved by 15 bps to 8.92% in Dec’24 from 8.77% in Sep’24

·          NIM (Domestic) increased by 8 bps to 3.57% in Dec’24 from 3.49% in Sep’24

·          GNPA decreased by 22 bps to 3.26% in Dec’24 from 3.48% inSep’24, NNPA reduced by 6 bps to 0.21% inDec’24from 0.27% in Sep’24

·          Slippage ratio decreased to 0.78% in Dec’24 from 1.06% in Sep’24.

·          Credit Cost decreased by 18 bps to 0.47% in Dec’24 from 0.65% in Sep’24

·          Net Profit up by 37% YoY to ₹7962 Cr in9MFY25from ₹5816 Cr in 9MFY24

·          Operating Profit increased by 11.5% YoY to ₹13980 Cr in 9MFY25 from ₹12535 Cr in 9MFY24

·          Net Interest Income grew by 9% YoY to ₹18787 Cr in 9MFY25 from ₹17258 Cr in 9MFY24

·          Net Interest Margin (NIM) Domestic stood at 3.53% in 9MFY25

·          Return on Assets (RoA) improved by 27 bps to 1.31% in9MFY25 from 1.04% in 9MFY24

·          Return on Equity (RoE) increased by 137 bps to 20.62% in 9MFY25from 19.25% in 9MFY24

·          Cost-to-Income Ratio reduced by 50 bps to 44.67% in 9MFY25 from 45.17% in 9MFY24

Network:

·          The Bank has 5877 domestic branches (including 3 DBUs), out of which 1987 are Rural, 1543 are Semi-Urban, 1179 are Urban & 1168 are in Metro category. The Bank has 3 overseas branches & 1 IBU (Gift City Branch).

·          The Bank has 5224 ATMs & BNAs and 13292 number of Business Correspondents (BCs).

Digital Banking:

·          Business of ₹1,18,981 Cr has been generated through Digital Channels in 9MFY25. A total of 117 Digital Journeys, Utilities and Processes have been launched so far.

·          Number of Mobile Banking users has grown by 18% year over year, reaching 1.86 Cr.

·          UPI users and Net Banking Users have seen a 24% & 9% YoY increase respectively, reaching 2.04 Cr and 1.12 Cr respectively.

·          The Credit Card users increased by 52% YoY to 2.83 lakh. The transactions in Point of Sale (PoS) terminals has increased by 23% YoY, reaching to 35 lakh