Indian Bank Global Biz Hits Rs 2.75 Lakh Crore - The New Indian Express

Indian Bank Global Biz Hits Rs 2.75 Lakh Crore

Published: 24th January 2014 06:00 AM

Last Updated: 24th January 2014 01:37 AM

Global business of Indian Bank during the quarter under review rose to Rs 2.75 lakh crore from Rs 2.35 lakh crore a year earlier,  with deposits and advances standing at Rs 1.57 lakh crore and Rs 1.12 lakh crore with a growth of 16.64% and 12.26% respectively. Indian Bank Chairman & Managing Director T M Bhasin said on Thursday.

The bank’s net non performing assets during the December quarter has come down by 31 basis points to 2.25% compared to the previous quarter figure of 2.56%.

The bank had managed to improve its NNPA aided by robust recovery efforts from Rs 2,894 crore at the end of September to Rs 2,483 crore by the end of the third quarter, an improvement of 31 basis points. Gross NPA has come down 34 bps at Rs 3,839 crore.

Operating profit of the bank stood at `632 crore and net profit at Rs 265 crore for the concluded quarter. Bhasin also pointed out that the loan book of the bank had seen an increase of 12.26% in total with agri loans growing by 12%. The investment portfolio yield stood at 7.67% with a size of 49,282 crore, an increase of 17.5%.

The bank had increased its branches to 2139 by the end of December with 1680 ATMs in operation.

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