CHENNAI: Public sector Indian Bank on Thursday posted net profit growth by 41% at Rs 1,709 crore in the quarter ended June 30, 2023 against Rs 1,213 crore in the corresponding quarter of the previous year.The NII rose by 26% YoY at Rs 5,703 crore in first quarter of FY24, which was at Rs 4,534 crore in the year ago quarter. The retail, agriculture & MSME (RAM) sector advances grew by 13% at Rs 2,76,435 crore in the April-June period of 2023-24.While retail & agri advances rose by 16% YoY each, MSME advances grew by 7% YoY. Home Loan (including mortgage) increased by 14% YoY, auto loan and personal loan grew by 29% and 52%, respectively, YoY.The total business of the bank was at Rs…
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Indian Bank reports 41% rise in net profit
