GUWAHATI, May 17: The state-run Indian Bank declared financial results for the quarter that ended on March 31 of the financial year 2023. The bank recorded a net profit of Rs 5282 crores in FY23 as compared to Rs 3945 crores in FY22, registering a growth of 34 per cent. On a Year-on-Year (YoY) basis, the net profit increased from Rs 984 crores in March’22 to Rs 1447 crores in March’23 registering a growth of 47%. Net Interest Income increased by 29% YoY to Rs 5508 crores in March’23 from Rs 4255 crores in Mar’22. Bank’s revenue increased from Rs 45771.67 crores to Rs 52085.27 crores, registering a growth of 12.12%. Its GNPA decreased from 8.47 per cent to 5.95 per cent while its NNPA decreased from 2.27 per cent to 0.9 per cent. The bank’s return on assets stood at 0.77 per cent. The bank’s capital adequacy ratio stood at 16.49 per cent. Total Business recorded a YoY growth of 8% reaching the level of Rs 1094752 crores in Mar’23 from Rs 1009243 crores in Mar’22. The Bank has 5787 domestic branches, out of which 1964 are Rural, 1517 are Semi-Urban, 1165 are Urban and 1141 are in the Metro category. The Bank also has 3 overseas branches.
During the year, the Bank has further launched various Digital Journeys under its Digital Transformation Program. Transactions through ATM, BNA & Digital channels improved by 8% YoY in Q4FY23. Mobile Banking users increased by 68% YoY, while its transactions increased by 72% YoY.