Public sector lender Indian Bank has reported a massive rise in its net profit for the December 2023 quarter helped by higher income growth and lower provisions amid challenges faced on the margin front.Also read: Indian Bank launches a co-branded credit cardFor the quarter ended December 2023, the bank’s net profit grew by 52 per cent to ₹2,119 crore compared with ₹1,396 crore in the year-ago quarter.However, its operating profit stood at ₹4,097 crore against 4,061 crore, on the back of a single-digit rise in net interest income at 5,815 crore (₹5,499 crore).While interest income rose 20 per cent at ₹14,198 crore (₹11,834 crore), non-interest income grew by 11 per cent…
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Category: Tamilnad Mercantile Bank
With all-round show in Q2, Indian Bank on strong growth trajectory
Public sector lender Indian Bank sustained its all-round performance in the September 2023 quarter with the Chennai-headquartered bank reporting double-digit growth in net interest income, net profit, operating profit, and credit offtake, and a reduction in NPA on year-on-year basis.The bank’s net profit grew 62 per cent on a year-on-year basis at ₹1,988 crore when compared to ₹1,225 crore in the September 2022 quarter, helped by higher operating profit and lower provisions, on the back of strong rise in net interest income. Net profit in Q2 of this fiscal was up 12 per cent on a quarter-on-quarter basis.Its operating profit grew 19 per cent at ₹4,303 crore (₹3,629 crore in Q2…
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Indian Bank share price Today Live Updates : Indian Bank Soars on Positive Trading Day
Indian Bank Share Price Today : The last day of Indian Bank saw an open price of ₹464.35 and a close price of ₹460.8. The stock had a high of ₹481.8 and a low of ₹456. The market capitalization of the bank is ₹64,674.48 crore. The 52-week high for the stock is ₹478.6 and the 52-week low is ₹253.35. The BSE volume for the day was 244,872 shares.Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.
30 Jan 2024, 02:49 PM IST
Indian Bank share price NSE Live :Indian Bank trading at ₹495, up 3.03% from yesterday’s ₹480.45
The current data shows that the…
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Stocks to Watch: Wipro, Cummins, Force Motors, Laurus Labs, Indian Bank, Mankind Pharma
Following are the ten stocks that are likely to be in focus on Wednesday:
Wipro: The information technology major announced its collaboration with RSA, a…
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Indian Bank launches QIP today; floor price at Rs 414.44 per share
Indian Bank has launched its qualified institutional placement (QIP) to raise up to Rs 4,000 crore. The lender’s board has set the floor price for the issue at Rs 414.44 per share, a discount of around 5.5% from today’s closing price of Rs 437.20 on NSE.The Indian Bank QIP includes a base issue size of ₹2,250 crore and can be upsized by ₹1,500 crore.The indicative price at which Indian Bank shares are likely to be placed at QIP may come at ₹394 per share, which will be a discount of almost 5% to the SEBI floor price of ₹414.44 and a nearly 10% discount to Tuesday’s closing price of ₹437.20.The book-running lead managers are Axis Capital, IIFL Securities, ICICI Securities,…
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YES BANK Becomes First Indian Bank to Conduct Export Finance Transaction on RXIL’s ITFS Platform
YES BANK becomes the first Indian Bank to execute an export finance transaction on the International Trade Financing Services Platform (ITFS) of RXIL Global IFSC Limited (RXIL), a leading cross-border fintech company registered under the International Financial Services Centres Authority (IFSCA). This strategic partnership facilitates arranging credit for exporters & importers from both Indian and Global Institutions through Factoring, Forfaiting, and other trade financing services at competitive pricing with quick turnaround using a digital platform. This is the first transaction on the ITFS platform in collaboration with…
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Govt elevates 12 general managers as executive directors in UCO Bank, Canara Bank, Indian Bank, others. Check list
The Appointments Committee of the Cabinet has appointed a total of twelve general managers as executive directors in various Public Sector Banks, people in the know informed news agency PTI.
Appointments Committee of the Cabinet on Saturday approved the appointments of 12 EDs.
According to the PTI report, Sanjay Rudra, general manager, Bank of Maharashtra, has been appointed ED, Union Bank of India. Another General…
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Indian Bank partners with Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility for supply chain finance
Indian Bank Supply-chain finance will provide easy access to working capital finance to the dealers of TML, at favourable terms for driving their business growth.
Indian Bank has signed MoUs (Memorandum of Understanding) with Tata Motors Passenger Vehicles Ltd (TMPVL) and Tata Passenger Electric Mobility Ltd (TPEML) wholly owned subsidiaries of Tata Motors Limited.
Under this partnership, the Bank will provide inventory financing solution to the authorised dealers of TMPVL & TPEML through its digital SCF platform, for both electric vehicles as well as other passenger vehicles.
Speaking on the occasion, Mr….
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