Indian Bank Q3 update: Total business up 8.3% at ₹12.6 lakh crore, total deposit surges 7.3% | Company Business News-OxBig News Network

Indian Bank, on January 5, reported 8.3 per cent year-on-year (YoY) rise in its total business for the quarter ending on December 31, 2024. The Chennai-based public sector bank’s total business stood at ₹12.61 lakh crore for the same quarter, as compared to ₹11.64 lakh crore same period a year ago, according to the exchange filing.

Total deposits for the December quarter experienced consistent growth of 7.3 percent year-on-year. As of December 31, 2024, total deposits were recorded at ₹7.02 lakh crore.

Whereas, gross advances grew 9.6 per cent YoY in the December quarter. Indian public sector bank’s gross advance reported at ₹5.59 lakh crore for the period, as compared to ₹5.10 lakh crore last year as same period, as per filing.

Indian Bank Q2 results highlights

State-owned Indian Bank reported a 36 per cent rise in profit, reaching ₹2,707 crore for the second quarter ending September 2024. This is an increase from the ₹1,988 crore net profit reported during the same quarter last year.

The bank’s total income for the quarter grew to ₹17,770 crore, up from ₹15,736 crore in the corresponding period of the previous year. According to a regulatory filing, interest income amounted to ₹15,348 crore, compared to ₹13,743 crore last year.

Additionally, the bank’s Net Interest Income (NII) rose to ₹6,194 crore, an 8 per cent increase from the ₹5,741 crore reported in the second quarter of the previous year.