This PSU bank introduced objective performance appraisal system for Employees

 Over the next three years, Indian Bank, a well-known public sector lender, intends to open 300 additional branches to increase the size of its branch network. The bank will be present in every district headquarters nationwide thanks to this development. To...

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Indian Bank Q3 Profit surges 35% YoY

The third quarter net profit of the state-owned Indian Bank increased by 35% year over year to Rs 2852 crore from Rs 2119 crore in the previous year due to fewer provisions and higher earnings. The quarter's net interest margin increased from 3.41% to 3.45%....

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New MD & CEO appointed in Two Public Sector Banks

Two major public sector banks, Indian Bank and Punjab National Bank, have had their leadership changes authorized by the Appointments Committee of the Cabinet (ACC), the government said in two separate orders.Ashok Chandra, who is now Canara Bank's executive director,...

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Indian Bank Q1 Results: Net profit soars 41%

 State-owned Indian Bank on Monday posted a 41 per cent jump in its net profit to Rs 2,403 cr for the June 2024 quarter due to a decline in bad loans.The Chennai-based lender had earned a net profit of Rs 1,709 cr in the year-ago period.During the quarter,...

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Indian Bank Q4 Net profit jumps 55%

Public sector lender Indian Bank reported a 55 per cent jump in net profit at Rs 2,247 crore in March quarter of 2023-24.The bank had a net profit of Rs 1,447 crore in March quarter of the preceding fiscal.Click here to follow our WhatsApp channelTotal income...

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Indian Bank posts 52% rise in Q3 net profit

 State-owned Indian Bank reported a 51.84 percent rise in its net profit to Rs 2,119.35 crore in the third quarter of financial year 2023-24. On a sequential basis, net profit of the lender rose 6.6 percent.This was on the back of better asset...

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Indian Bank Q2 Net profit rises 61%

 Public sector lender Indian Bank has reported a 61 per cent rise in net profit during the second quarter of the financial year FY24 to Rs 2,068.49 crore, compared to Rs 1,287.39 crore during the same period last financial year. The improved net profit is...

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Indian Bank Q1 results: Net profit rises 41%

Chennai-based Indian Bank on July 27 reported a 40.8 percent rise in net profit at Rs 1,708.8 crore for the April-June quarter of FY24, as against Rs 1,213 crore a year ago.The public-sector lender's gross non-performing assets (GNPA) declined to 5.47 percent...

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Indian Bank Q4 net profit up 48% as NII rises 29%

 State run Indian Bank posted a 48 per cent rise in consolidated net profit at Rs 1,520 crore in Q4 FY23, compared to Rs 1,024 crore in the same period in FY22 and helped by a rise in income and improved asset quality.The Chennai-based lender’s total income...

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Indian Bank Q1 net profit rise 4%

 State-run Indian Bank has posted a 4 per cent increase in net profit for the first quarter of the financial year 2022-23 to Rs 1,311 crore as compared with Rs 1,259 crore during the same period during the last financial year.Total income of the bank during...

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Indian Bank Net profit rise 34% in Q3

 Indian Bank reported a 34 per cent year-on-year (YoY) rise in net profit at Rs 690 crore for the December quarter, despite a 21 per cent growth in provisions and contingencies. Net profit was Rs 514 crore in the year-ago period. The bank saw a 30 per...

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Indian Bank Q2 results: Net profit jumps 2.6x

State-owned Indian Bank has reported a 2.6-fold rise in net profit for the September quarter buoyed by earnings from treasury operation and bad loan recovery while it logged lower interest income and higher provisions. The net profit for the quarter was at...

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Indian Bank posts multifold jump in Q1 net profit

 State-owned Indian Bank on Monday reported a multifold jump in its net profit to Rs 1,182 crore for the first quarter ended June 30, 2021. The bank had reported a net profit of Rs 369 crore in the corresponding quarter a year ago.Total income during...

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Indian Bank reports huge net profit in Q4

 Indian Bank on Friday reported a net profit of Rs 1,708.85 crore in the March-ended quarter. The lender had posted a net loss of Rs 217.74 crore in the same quarter of the preceding financial year 2019-20.Sequentially, the bank had posted a net profit...

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Indian Bank Q3 Profit more than doubles

 State-owned Indian Bank on Friday reported more than doubling of its profit at Rs 514.28 crore for the third quarter ended December 2020. The bank's profit in the year-ago period stood at Rs 247.16 crore.Total income during the quarter under review...

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Indian Bank Q2 net profit rises 15%

State-owned Indian Bank on Thursday reported a 15 per cent rise in net profit at Rs 412.28 crore for the second quarter ended September, despite increase in provisions for bad loans. The bank's net profit in July-September quarter of 2019-20 stood at...

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Indian Bank Q1 results: Profit rises marginally, asset quality declines

State-owned Indian Bank on Friday reported a marginal 1 per cent rise in its standalone net profit at Rs 369.26 crore in the first quarter ended June 2020. Its net profit stood at Rs 365.37 crore in the same period a year ago. Sequentially,...

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Indian Bank Q4 results: Posts net loss of Rs 218 crore

Public sector lender Indian Bank has slipped into the red in the fourth quarter with Rs 218 crore net loss on account of higher provisions. It had made profits in the previous three quarters while suffered Rs 190 crore loss in the year ago period. Its...

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Merger News: Mega merger of 10 PSU banks takes effect; all you need to know

The merger of ten government-run banks into four will come into force from April 1. The branches of the merging banks will operate as branches of the banks in which they have been merged. Customers of merging banks will also now be treated as customers...

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PSU banks announce share-swap ratios ahead of April 1 merger

Following the footsteps of State Bank of India and Bank of Baroda, the boards of 10 public-sector banks on Thursday approved mergers and issued share-swap ratios to create four large banks in the economy. The four anchor banks will...

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