Indian Bank reported standalone net profit for the December quarter rose 52% from the year-earlier period to ₹2,119 crore due to growth in interest income.Net interest income increased 6% to ₹5,815 crore and fee based income by 21% to ₹852 crore. Net interest margin stood at 3.49% (3.47%), the public sector lender said in a statement.Gross non-performing assets decreased by 206 basis points (bps) to 4.47%, while net NPA reduced by 47 bps to 0.53%. Provision coverage ratio improved by 231 bps to 95.90%. Capital adequacy ratio stood at 15.58%.Gross advances of the bank increased by 13% ₹5,09,800 crore, while gross deposits rose 10% to ₹6,54,154 crore. CASA deposit grew by 8%,…
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Indian Bank Q3 standalone net rises 52% to ₹2,119 cr.
