Indian Bank Reports 5% Increase in Q4 Net Profit, Declares Dividend Amid Improved Asset Quality
Indian Bank Q4 Results: Net profit rises 5% YoY to ₹3,103 crore, asset quality improves; declares ₹18.25 dividend
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Indian Bank, a state-owned lender, reported a net profit of ₹3,103 crore for the March quarter, marking a 5% year-on-year increase. The bank also improved its asset quality, with gross non-performing assets (GNPA) declining to 1.98%. Additionally, it declared a dividend of ₹18.25 per share.
- 01Net profit rose to ₹3,103 crore, a 5% increase from the previous year.
- 02Net interest income increased by 11.28% to ₹7,110 crore.
- 03Gross non-performing assets (GNPA) improved to 1.98%.
- 04Provisions surged to ₹1,228 crore due to the West Asia crisis.
- 05The bank declared a dividend of ₹18.25 per share.
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Indian Bank, a state-owned financial institution in India, announced its financial results for the quarter ending March 31, revealing a 5% increase in net profit to ₹3,103 crore compared to ₹2,956 crore in the same quarter last year. The bank's net interest income (NII) rose by 11.28% to ₹7,110 crore, up from ₹6,389 crore a year earlier. Asset quality also improved, with gross non-performing assets (GNPA) declining to 1.98% and net non-performing assets (NNPA) to 0.15%. However, provisions increased significantly to ₹1,228 crore, influenced partly by a provision of ₹308.40 crore related to the ongoing crisis in West Asia. In light of its strong performance, the bank declared a dividend of ₹18.25 per share, reflecting its commitment to returning value to shareholders.
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The improved asset quality and steady profit growth may lead to better lending rates for consumers and businesses, positively impacting home loans and personal loans.
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