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Indian Bank clocks 41 per cent jump in net profit to Rs 2,403 crore for April-June quarter

Source: IANS
2024-07-30 09:26:57 am

Buy Indian Bank Ltd. For Target Rs. 675 - Yes Securities

Initiated as BUY in March 2022, INBK multiplies nearly 3.5x but still has material upside Our view – Declining credit cost, stable margin and reasonable growth keep us bullish Unlike most other banks, INBK is looking forward to credit cost decline owing to healthy upfronted provisioning: Management stated that the specific credit cost would decline from the 77 bps registered in FY24. This is expected given Net NPA has declined from 0.9% to 0.4% and the SMA book is also small. For...

Buy Indian Bank Ltd. For Target Rs. 675 - Yes Securities

Source: Yes Securities Ltd.
2024-06-26 11:29:32 am

Buy Indian Bank Ltd.For Target Rs.625 By Motilal Oswal Financial Services

Performance in line; earnings outlook remains healthy Asset quality improves further * Indian Bank (INBK) reported a PAT of INR22.5b in 4QFY24 (up 55% YoY/6% QoQ; in line) led by a healthy other income. NII growth was healthy at 9.2% YoY (in line). Margin improved 3bp QoQ to 3.52% during the quarter. * Gross loan growth was healthy at 13% YoY/5% QoQ, while deposits rose 11% YoY/5% QoQ. Consequently, the C/D ratio was largely flat at 74.8%. Management continues to focus on profitable ...

Buy Indian Bank Ltd.For Target Rs.625 By Motilal Oswal Financial Services

Source: Motilal Oswal Financial Services Ltd
2024-06-14 05:53:22 pm

Indian banks to ask regulator to not raise provisioning for infra loans, sources say

The Indian Banks' Association (IBA) will ask the central bank to keep provisioning for infrastructure project loans unchanged in its feedback to the latter's recent proposal to raise the amount of capital lenders should set aside against such loans, three banking sources told Reuters on Wednesday. Last month, the Reserve Bank of India (RBI) proposed that banks and non-banking financial companies (NBFC) set aside a provision of 5% of the total loan amount of infrastructure projects ...

Indian banks to ask regulator to not raise provisioning for infra loans, sources say

Source: Reuters
2024-06-12 02:20:18 pm

Below the Reaction on RBI MPC announcement by Shri Shanti Lal Jain, Managing Director & CEO, Indian Bank The RBI’s MPC decision to keep the policy rates unchanged, while maintaining the stance on ‘withdrawal of accommodation’ was on expected lines. This move shows the RBI's careful approach to balancing economic growth with keeping inflation under control. Above views are of the author and not of the website kindly read disclaimer

Reaction on RBI MPC announcement by Shri Shanti Lal Jain, Managing Director & CEO, Indian Bank

Source: PR Agency
2024-06-08 10:00:30 am

Our view – Declining credit cost, stable margin and reasonable growth keep us bullish Unlike most other banks, INBK is looking forward to credit cost decline owing to healthy upfronted provisioning: Management stated that the specific credit cost would decline from the 77 bps registered in FY24. This is expected given Net NPA has declined from 0.9% to 0.4% and the SMA book is also small. For the quarter, the annualised gross slippage ratio of 1.1% was well under control. Margin e...

Buy Indian Bank Ltd For Target Rs.675 - Yes Securities

Source: Yes Securities Ltd.
2024-05-18 10:51:10 am

Buy Indian Bank Ltd For Target Rs.675- Yes Securities Ltd

Source: Yes Securities Ltd.
2024-05-08 11:57:58 am

Indian Bank posts 55% jump in Q4 net profit, declares dividend of Rs 12 per share

The Indian Bank on Monday reported a 55 per cent rise in net profit to Rs 2,247 crore for the January-March quarter of 2023-24, compared to the corresponding figures of Rs 1,447 crore reported in the same period of the previous year. The public sector bank's board of directors has recommended a dividend of Rs 12 per share for 2023-24. The total income of the bank increased by 19 per cent to Rs 16,887 crore in the March quarter of FY24, from Rs 14,238 crore in the same period in FY23...

Indian Bank posts 55% jump in Q4 net profit, declares dividend of Rs 12 per share

Source: IANS
2024-05-07 09:37:40 am

Indian Bank surges on inking pact with Tata Power Solar Systems

Indian Bank is currently trading at Rs. 518.35, up by 8.40 points or 1.65% from its previous closing of Rs. 509.95 on the BSE. The scrip opened at Rs. 513.00 and has touched a high and low of Rs. 524.40 and Rs. 512.00 respectively. So far 36852 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 573.45 on 08-Feb-2024 and a 52 week low of Rs. 267.25 on 01-Jun-2023. Last one week high and low of the scrip stood at Rs...

Indian Bank surges on inking pact with Tata Power Solar Systems

Source: Accord Fintech
2024-04-25 11:16:03 am

Buy Indian Bank Ltd For Target Rs.550 By Yes Securities

Our view – Asset quality control, relatively margin stability and reasonable growth make us maintain stance Gross slippages and provisions decline sequentially while management guides for decline in provisions: Gross NPA additions amounted to Rs 16.67bn for 3QFY24 compared with Rs 19.82bn during 2QFY24. Provisions were Rs 13.5bn, down by -13% QoQ and -46% YoY, translating to calculated annualised all-inclusive credit cost of 112bps. Management stated that provisions would be slightly...

Buy Indian Bank Ltd For Target Rs.550 By Yes Securities

Source: Yes Securities Ltd.
2024-04-03 12:17:05 pm

Buy Indian Bank Ltd. For Target Rs.525 By Motilal Oswal Financial Services

Asset quality continues to improve - Indian Bank (INBK) reported a PAT beat at INR21.2b (up 52% YoY/ 6.6% QoQ; 9% beat on MOFSLe), amid lower-than-expected provisions (as the bank reversed excess provisions on account of a sale of stressed loans). NII grew 5.7% YoY (in line). Margin contracted slightly by 3bp QoQ to 3.49%. - Gross loan growth was healthy at 13% YoY/4% QoQ, ...

Buy Indian Bank Ltd. For Target Rs.525 By Motilal Oswal Financial Services

Source: Motilal Oswal Financial Services Ltd
2024-04-02 11:53:16 am

Fintech startup Paymart to offer `virtual ATM`, partners 5 banks

Fintech startup Paymart on Friday said that it has partnered with five Indian banks to offer its innovative virtual, cardless, and hardware-less cash withdrawal service. Paymart has partnered with five prominent banks, including IDBI Bank, Indian Bank, Jammu & Kashmir Bank, and Karur Vyasa Bank, to roll out this service nationwide. The company is also in advanced discussions with four additional banks for further collaboration. "Our future-ready technology, coupled with dire...

Fintech startup Paymart to offer `virtual ATM`, partners 5 banks

Source: IANS
2024-02-10 09:40:24 am

Ex-PhonePe CEO`s startup Paymart to offer `virtual ATM`, partners 5 Indian banks

Former PhonePe CEO Amit Narang's fintech startup Paymart on Friday said that it has partnered with five Indian banks to offer its innovative virtual, cardless, and hardware-less cash withdrawal service. Paymart has partnered with five prominent banks, including IDBI Bank, Indian Bank, Jammu & Kashmir Bank, and Karur Vyasa Bank, to roll out this service nationwide. The company is also in advanced discussions with four additional banks for further collaboration. "Our futur...

Ex-PhonePe CEO`s startup Paymart to offer `virtual ATM`, partners 5 Indian banks

Source: IANS
2024-02-09 05:19:55 pm

Below the Quote on RBI MPC Announcement by Shri S L Jain, MD & CEO of Indian Bank By keeping interest rates unchanged and sticking to its current policy stance, the MPC aims to strike a balance between supporting economic growth and managing inflationary pressures. This approach is essential in navigating the complex and changing global economic landscape, ensuring that the economy remains resilient and adaptable to future challenges. Various developmental ...

RBI MPC announcement by Shri S L Jain, MD & CEO of Indian Bank

Source: Indian Bank Ltd
2024-02-09 10:04:51 am

Indian Bank credit growth could moderate in FY25 on tighter liquidity: S&P

S&P Global Ratings has said strong credit growth of Indian banks could moderate to 12-14 per cent in the next fiscal (FY25) if deposit growth remains tepid. It said banks may be compelled to look for wholesale funding. It added that higher costs of such funding could further strain margins and hurt profitability. It stated rising cost of funds and potential rate cuts in fiscal 2025 will squeeze net interest margins. It expects the share of unsecured personal loans in the banks...

Indian Bank credit growth could moderate in FY25 on tighter liquidity: S&P

Source: Accord Fintech
2024-02-06 10:48:25 am

Pioneering Sustainability: YES BANK tops Indian Banks with highest S&P Global ESG Score in 2023

YES BANK has reached a notable milestone in its commitment to sustainability by achieving the highest Environmental, Social, and Governance (ESG) score amongst Indian banks, in the S&P Global Corporate Sustainability Assessment (*CSA) 2023. The Bank scored 73 (out of 100) in the 2023 S&P Global Corporate Sustainability Assessment, reflecting a marked improvement of 5 points over its score of 68 in 2022. This achievement reflects YES BANK's consistent efforts to enhance its ESG pra...

Pioneering Sustainability: YES BANK tops Indian Banks with highest S&P Global ESG Score in 2023

Source: PR Agency
2023-12-28 02:59:21 pm

Intellect Design Arena shines on partnering with Indian Bank for corporate banking modernisation

Intellect Design Arena is currently trading at Rs. 779.65, up by 31.20 points or 4.17% from its previous closing of Rs. 748.45 on the BSE. The scrip opened at Rs. 752.75 and has touched a high and low of Rs. 782.00 and Rs. 751.00 respectively. So far 25768 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 782.00 on 11-Dec-2023 and a 52 week low of Rs. 388.00 on 16-Mar-2023. Last one week high and low of the ...

Intellect Design Arena shines on partnering with Indian Bank for corporate banking modernisation

Source: Accord Fintech
2023-12-11 11:58:35 am

Buy Indian Bank Ltd For Target Rs. 540 - Yes Securities

Result Highlights (See “Our View” for further elaboration) ? Asset quality: Gross NPA additions amounted to Rs 19.82bn (annualized NPA addition ratio of 1.6%), while recoveries and upgrades amounted to Rs 14.15bn ? Margin picture: Domestic NIM at 3.52% was down -9bps QoQ, due to cost of deposits rising more than yield on advances ? Asset growth: Gross advances grew 2.7%/12.4% QoQ/YoY, driven sequentially by Overseas loans and Agri Loans ? Opex control: Total opex grew ...

Buy Indian Bank Ltd For Target Rs. 540 - Yes Securities

Source: Yes Securities Ltd
2023-10-28 02:01:42 pm

Indian banks offer incentives to lift digital currency transactions

Indian banks are offering incentives for conducting transactions using the central bank digital currency, the e-rupee, nudged by the Reserve Bank of India to boost volumes, three sources said. The incentives range from cash-backs to reward points, similar to those offered by the banks on credit and debit cards, they said. The sources declined to be named as they were not authorised to speak to the media. The RBI did not respond to an email seeking comment. The RBI started a pilot pro...

Indian banks offer incentives to lift digital currency transactions

Source: Reuters
2023-10-27 11:03:22 am

Indian Bank surges on reporting 61% rise in Q2 consolidated net profit

Indian Bank is currently trading at Rs. 408.00, up by 7.55 points or 1.89% from its previous closing of Rs. 400.45 on the BSE. The scrip opened at Rs. 407.55 and has touched a high and low of Rs. 409.00 and Rs. 401.95 respectively. So far 5168 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 446.15 on 27-Sep-2023 and a 52 week low of Rs. 232.30 on 27-Oct-2022. Last one week high and low of the scrip stood at Rs....

Indian Bank surges on reporting 61% rise in Q2 consolidated net profit

Source: Accord Fintech
2023-10-27 10:25:36 am

Public sector mortgage lender Indian Bank on Thursday said it closed the second quarter of FY24 with a higher net profit aided by a drastic reduction in provisions for non-performing assets (NPA)In a regulatory filing, Indian Bank said for the quarter ended September 30 it had earned a total interest income of Rs17,743.26 crore (Q2FY23 Rs 10,709.90 crore) and a net profit of Rs 1,987.76 crore (Rs 1,225.22 crore).During the period under review, the bank had earned Rs1,992.97 crore (Rs 1,828.11...

Indian Bank Q2 PAT at Rs 1,987.76 crore

Source: IANS
2023-10-26 04:25:32 pm

Indian banks assess carbon risk of loan book amid investor, Central Bank push

India's largest banks have begun to audit their own and borrowers' carbon footprint as they try to mitigate financial risks amid growing pressure from regulators and investors to better align their ESG reporting with global norms, a dozen sources told Reuters.The South Asian nation is the world's third-highest greenhouse gas polluter and has set a goal of reaching net zero emissions by 2070.India's financial sector lags other major economies in its reporting on Scope 3 emissions, or lending-r...

Indian banks assess carbon risk of loan book amid investor, Central Bank push

Source: Reuters
2023-10-12 03:40:20 pm

Arvog enters into a strategic Gold co-lending partnership with Indian Bank

Arvog is a new-age, AI/ML-powered, customer-centric finance company that makes digital lending quick, efficient, and easy. We focus on digital personal loans and gold loans. Arvog (Finkurve Financial Services Limited) is a listed company on the BSE Limited (Bombay Stock Exchange Scrip Code: 508954) and registered as an NBFC (non-banking financial company) with the RBI (Reserve Bank of India).Indian Bank is a public sector bank in India that was founded in 1907 and is headquarte...

Arvog enters into a strategic Gold co-lending partnership with Indian Bank

Source: PR Agency
2023-10-01 02:52:26 pm

News

Buy Indian Bank Ltd For Target Rs. 710 by Yes Securities Ltd

Buy Indian Bank Ltd For Target Rs.650 By Motilal Oswal Financial Services Ltd

Tata Motors shines on inking MoU with Indian Bank

Buy Indian Bank Ltd. For Target Rs.675 By Emkay Global Financial Services

Indian Bank inches up on raising Rs 5000 crore

Buy Indian Bank Ltd For Target Rs.675 By Emkay Global Financial Services

Buy Indian Bank Ltd For Target Rs.715 By Yes Securities

Buy Indian Bank Ltd For Target Rs.670 By Motilal Oswal Financial Services

Indian Bank clocks 41 per cent jump in net profit to Rs 2,403 crore for April-June quarter

Buy Indian Bank Ltd. For Target Rs. 675 - Yes Securities

Buy Indian Bank Ltd.For Target Rs.625 By Motilal Oswal Financial Services

Indian banks to ask regulator to not raise provisioning for infra loans, sources say

Reaction on RBI MPC announcement by Shri Shanti Lal Jain, Managing Director & CEO, Indian Bank

Buy Indian Bank Ltd For Target Rs.675 - Yes Securities

Buy Indian Bank Ltd For Target Rs.675- Yes Securities Ltd

Indian Bank posts 55% jump in Q4 net profit, declares dividend of Rs 12 per share

Indian Bank surges on inking pact with Tata Power Solar Systems

Buy Indian Bank Ltd For Target Rs.550 By Yes Securities

Buy Indian Bank Ltd. For Target Rs.525 By Motilal Oswal Financial Services

Fintech startup Paymart to offer `virtual ATM`, partners 5 banks

Ex-PhonePe CEO`s startup Paymart to offer `virtual ATM`, partners 5 Indian banks

RBI MPC announcement by Shri S L Jain, MD & CEO of Indian Bank

Indian Bank credit growth could moderate in FY25 on tighter liquidity: S&P

Pioneering Sustainability: YES BANK tops Indian Banks with highest S&P Global ESG Score in 2023

Intellect Design Arena shines on partnering with Indian Bank for corporate banking modernisation

Buy Indian Bank Ltd For Target Rs. 540 - Yes Securities

Indian banks offer incentives to lift digital currency transactions

Indian Bank surges on reporting 61% rise in Q2 consolidated net profit

Indian Bank Q2 PAT at Rs 1,987.76 crore

Indian banks assess carbon risk of loan book amid investor, Central Bank push

Arvog enters into a strategic Gold co-lending partnership with Indian Bank