Indian Bank announced an 8.3% year-on-year (YoY) increase in total business for the quarter ending December 31, 2024, reaching ₹12.61 lakh crore compared to ₹11.64 lakh crore in the same period last year. Despite the positive update, shares of the public sector lender fell 2.43% to ₹511.60 during early trading on January 6.
Key Business Highlights:
- Total Deposits:
- Grew by 7.3% YoY to ₹7.02 lakh crore as of December 31, 2024.
- Gross Advances:
- Increased by 9.6% YoY, reaching ₹5.59 lakh crore in the December quarter compared to ₹5.10 lakh crore in the same period last year.
- Q2 FY25 Performance (for comparison):
- Profit: Rose 36% YoY to ₹2,707 crore from ₹1,988 crore in Q2 FY24.
- Total Income: Grew to ₹17,770 crore from ₹15,736 crore YoY.
- Net Interest Income (NII): Increased by 8% YoY to ₹6,194 crore.
TOPICS:
Indian Bank