Sunday, December 22, 2024

National

Indian Bank announces its Q2 FY2023 results | Net Profit up by 12% YoY at ₹1225 Cr in Sep’22 from ₹1089 Cr in Sep’21

chennaiviews

Financial Results for Quarter/Half Year ended30thSeptember 2022

Bank’s Global Business reached ₹10.27 lakh Cr

Operating Profit up by11% YoY

Key Highlights (Quarter ended Sep’22 over Sep’21)

Net profit up by12% YoY

  • Net Profit up by 12%YoY at ₹1225 Cr in Sep’22 from ₹1089 Crin Sep’21
  • Operating profit for Sep’22 up by 11% YoY at ₹3629 Cr from `3276 Crin Sep’21
  • Net Interest Income increased by 15% YoY to ₹4684 Crin Sep’22 from₹4084 Cr in Sep’21
  • Fee based income grew by 18%YoY to ₹723 Crin Sep’22
  • Cost-to-Income Ratio stood at 44.27% in Sep’22 as against 45.85% in Sep’21
  • Domestic NIM stood at 3.20% in Sep’22 as against 2.89% in Sep’21
  • Return on Assets (RoA)improved to0.71% in Sep’22as against 0.69% in Sep’21
  • Return on Equity (RoE)improved by 52 bpsto 13.83% for Sep’22 against 13.31% in Sep’21
  • Advances increased by 14% YoY to ₹437941 Cr in Sep’22 from₹385730 Cr in Sep’21
  • RAM (Retail, Agriculture & MSME) advances grew by 13%to ₹255256 Cr in Sep’22 from ₹226501 Crin Sep’21
  • Retail, Agri, MSME advances grew by 14%, 15% and 9%YoY respectively. RAM contribution to domestic advances is 62%. Home Loan (Including mortgage)grew by 11%, Auto Loan by 28%, Personal Loan by 26% and Gold Loan by 19%
  • Deposit increased by 7% YoY and reached to ₹588860 Crin Sep’22
  • CASA grew by 7%, driven by 9% YoY growth in CA and7% YoY growth in SB,
    CASA ratio stood at 41%
  • GNPA decreased by 226 bps YoY to 7.30%from 9.56%,NNPA reduced by 176 bps to 1.50% from 3.26% in Sep’21
  • Provision Coverage Ratio (PCR) improved by 776 bpsYoY to 91.08%from 83.32% in Sep’21
Key Highlights (Quarter ended Sep’22 over Jun’22) 

Capital Adequacy Ratio at 16.15%. CET-I improved by 58 bps YoY to 12.26%
Tier I Capital improved by 55 bps YoY to 12.89%

  • Net Profitrose to₹1225 Crin Sep’22 from ₹1213 Cr in Jun’22
  • Operating profit stood at ₹3629 Crin Sep’22as against₹3564 Cr in Jun’22
  • Net Interest Income grew by 3% in Sep’22 to ₹4684 Cr from ₹4534 Cr in Jun’22
  • Non-Interest Income increased by 14% to ₹1828 Cr in Sep’22 from ₹1604 Cr in Jun’22
  • On a QoQ sequential basis Return on Assets (RoA) moderated by 2 bps to 0.71% in Sep’22 as against 0.73% in Jun’22.