Indian Bank posts Rs10.49 lakh Cr global business as on Dec 31, 2022

Indian Bank’s global business touched Rs, Rs10.49 lakh Cr global business as on Dec 31, 2022 with its  net profit going up by 102%YoY at Rs. 1396 Cr in Dec’22 from Rs. 690 Cr in Dec’21. According to the result declared officially the Indian Bank’s operating profit for the above period went up by 24%YoY at Rs. 4061 Cr from Rs. 3288 Cr in Dec’21. Net Interest Income increased by 25%YoY to Rs. 5499 Cr in Dec’22 fromRs. 4395 Cr in Dec’21. Fee based income grew by 6%YoY to Rs. 704 Cr in Dec’22 and cost-to-Income Ratio stood at 43.71% in Dec’22 as against 44.75% in Dec’21.

Digital Banking

While return on Assets (RoA) improved to 0.80% in Dec’22 as against 0.43% in Dec’21. the  Return on Equity (RoE) increased to 15.21% for Dec’22 as against 8.26% in Dec’21. Advances increased by 13%YoY to Rs. 451658 Crin Dec’22 fromRs. 400432 Crin Dec’21 The Bank has 5770 domestic branches, out of which 1959 are Rural, 1509 are Semi-Urban, 1161 are Urban &1141 are in Metro category. The Bank has 3 overseas branches &1 IBU. The Bank has 4969 ATMs & BNAs and 10368number of BCs.   The Bank has established 3 Digital Banking Units (DBUs) at South Delhi, Lucknow and Karaikal. Mobile Banking users increased by 73% YoY, while its transactions increased by 85% YoY.