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Indian Bank’s net profit for the second quarter of this fiscal has jumped 17 per cent over the comparable quarter last year.
It reported a net profit of ₹369.31 crore (₹314.33 crore in the year-go quarter) on a total income of ₹4578.65 crore (₹4340.32 crore) for the quarter ended September 30, 2015.
The bank benefited from treasury operations, which contributed ₹194.18 crore (₹80.72 crore) to the profits. Corporate banking brought in ₹282.23 crore (₹361.62 crore), retail banking ₹239.61 crore (₹303.34 crore), and other banking operations ₹19.47 crore (₹19.23 crore).
On the assets front, the slippages were marginal with gross non-performing assets (NPAs) standing 4.61 per cent (₹5,772.77 crore) of gross advances as of September 2015, against 4.21 per cent (₹5,003.41 crore) in the year-ago period.
Likewise, net NPAs were 2.60 per cent (₹3,187.53 crore) of net advances during the quarter under review, up from 2.55 per cent (₹2,975.85 crore) in the same quarter of the previous fiscal.
In the first quarter of the current fiscal, gross NPAs stood at 4.65 per cent (₹5,815.14 crore) and net NPAs 2.62 per cent (₹3,193.29 crore).
Mahesh Kumar Jain, Managing Director and CEO (Additional Charge), Indian Bank, told media persons that the bank has managed to contain slippages in sequential quarters with enhanced recovery and containing big-ticket exposure.
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