Indian Bank Reports Significant Profit Growth

Indian Bank has announced a remarkable 32% increase in net profit for the fourth quarter of FY 2024-25, amounting to Rs 2,956 crore. This growth is attributed to strong core income and enhanced asset quality, marking a significant improvement from the previous year's Rs 2,247 crore.

Financial Highlights

The bank's total income saw an upward trend, reaching Rs 18,599 crore, compared to Rs 16,887 crore in the same quarter last year. Interest income also rose to Rs 15,856 crore, up from Rs 14,624 crore, with Net Interest Income (NII) improving to Rs 6,389 crore.

Asset Quality Improvement

Indian Bank has made notable progress in asset quality, with Gross Non-Performing Assets (NPAs) decreasing to 3.09% and Net NPAs falling to 0.19%. The Provision Coverage Ratio (PCR) increased to 98.10%, strengthening the bank's buffer against potential bad loans.

Annual Performance and Future Plans

For the full financial year 2024-25, the bank's net profit surged by 35% to Rs 10,918 crore. The Board of Directors has recommended a dividend of Rs 16.25 per equity share and approved plans to raise up to Rs 7,000 crore through equity and bond offerings in FY26.