Public sector lender Indian Bank reported a 7.33% increase in net profit for the December quarter to ₹3,061 crore, compared with the year-ago period, aided by improved asset quality and interest income.
Net Interest Income (NII) rose 7.50% to ₹6,896 crore, while Net Interest Margin (NIM) declined to 3.28% from 3.45% a year earlier.
Gross non-performing assets (GNPA) fell by 103 basis points to 2.23%, while net NPA declined by 6 bps to 0.15%. The Provision Coverage Ratio (PCR) improved by 19 bps year-on-year to 98.28%. The slippage ratio stood at 0.69%, compared with 0.78% in the corresponding period last year. The Capital Adequacy Ratio (CAR) improved by 66 bps to 16.58%.
Total deposits grew by 13% to ₹7,90,923 crore, while gross advances increased by 14% to ₹6,38,848 crore.
RAM (Retail, Agriculture and MSME) advances rose to ₹3,90,459 crore from ₹3,34,739 crore, with RAM accounting for 66% of gross domestic advances. Retail, agriculture and MSME advances grew by 18.54%, 15.14%, and 16.41%, respectively. Home loans (including mortgage loans) expanded by 14.20%. Current, savings and CASA deposits grew by 19.13%, 8.45%, and 9.86%, respectively.
During the nine-month period, the bank generated business of ₹1,98,350 crore through digital channels. The number of mobile banking users increased by 21% to 2.25 crore. UPI users and net banking users rose by 21% and 5%, reaching 2.52 crore and 1.18 crore, respectively. Debit card and POS users increased by 7% and 15%, respectively.
“Our focus is on building efficiency across operations to deliver faster, simpler and more reliable banking experiences. We aim to maintain strong asset quality through prudent lending and disciplined portfolio management,” said Binod Kumar, MD & CEO, Indian Bank.
He added, “We remain committed to the highest standards of governance and regulatory adherence, ensuring transparency and trust. Growth will be driven by customer-centric initiatives, expansion of digital access, strengthening CASA and MSME offerings, and delivering responsive services to meet evolving customer needs.