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    Bapuji Patil in News

    03-Nov-2022 12:19 PM


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    Indian Bank Reports 13% Rise In Profit As Provisions For Bad Loans Fell

    By Asmita Pant The bank's total income for the quarter under review increased to Rs 12,538 crore from Rs 11,440.42 crore in the corresponding period in the previous fiscal.
    The net interest income during the quarter was 15 percent higher at Rs 4,684 crore.
    Indian Bank on Thursday reported 13 percent rise in net profit at Rs 1,225 crore for quarter ended September as provisions for bad loans fell, Indian Bank said in a regulatory filing.
    Total provisions, however, for bad loans and contingencies were higher at Rs 2,404 crore for the quarter, a rise of 10 percent from the previous year.
    Among other key ratios, the cost of income ratio improved to 44.3 percent from 45.9 percent and yield on advances moved up to 7.5 per cent from almost seven percent.
    Source:- CNBCTV18
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