In a regulatory filing on Thursday, the lender said its total business increased 13.4% to Rs 14.3 lakh crore in the third quarter from Rs 12.61 lakh crore in the same quarter of the previous financial year.
Its gross advances were up 14.5% at Rs 6.4 lakh crore from Rs 5.59 lakh crore last year. Deposits for the lender also increased by 12.5% year-on-year to Rs 7.9 lakh crore from Rs 7.02 lakh crore. Deposit growth was also higher than the management’s guided range of 8% to 10%.
In the second quarter, the state-owned lender reported a modest 11.5% rise in net profit at Rs 3,018 crore for the second quarter to September 30, as compared with Rs 2,706 crore in the year ago period, on account of single digit increase in earnings even as its provisions stood lower.
The bank’s operating profit stood 2.3% higher at Rs 4837 crore against Rs 4729 crore. Net interest income rose by about 6% at Rs 6551 crore. Other income rose by about 3% at Rs 2487 crore. Total provisions were lower at Rs 739 crore as compared with Rs 1099 crore.
The bank’s advance grew 12.7% year-on-year to Rs 6.20 lakh crore while total deposits expanded by 12% to Rs 7.77 lakh crore. The low cost current and savings account ratio to total deposits fell to 38.9% at the end of September from 40.5% a year back reflecting the challenge banks are facing in low-cost deposit mobilisation.
Shares of Indian Bank gained nearly 60% in 2025. (Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)