FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 2018

FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 2018

The Board of Directors of Indian Bank approved the Bank’s results for the Quarter ended September 30, 2018 at their meeting held in Chennai on November 09th 2018.

BUSINESS:

Deposits grew YoY by 10.5% to touch Rs.219523 Cr from Rs.198669 Cr.

Advances registered a YoY growth of 19.50% to reach Rs.172322 Cr from Rs.144206 Cr.

Total Business reached Rs.391844 Cr with a YoY growth of 14.28% over Rs.342875 Cr during the Year ago period.

CASA grew by 7.29% YoY (Up from Rs.71813 Cr to Rs.77048 Cr)

RAM Sector grew by Z19120 Cr (24.6%) {Retail — 26%, Agricu1ture – 27.5% & MSME – 20.2%}

RAM sector forms 58.7% of the total Domestic advances of the Bank_ Q2 2018 – 19

HIGHLIGHTS (YoY):

OPERATIONAL EFFICIENCY:

Interest Income grew by 13.01% (Up from Rs.4160 Cr to Rs.4701 Cr)

Net Interest Income grew by 12.13% (Up from Rs.1544 Cr to Rs.1731 Cr)

Net Interest Margin improved by 12 bps (Up from 2.85% to 2.97%)

Fee Income: Rs.293 crore, grew by 6.34% (Up from Rs.275 Cr).

Operating profit declined by 13.42% i.e. from Rs.1376 Cr to Rs.1191 Cr mainly on account of decline in profit on sale of Investments. Excluding the same, Operating profit grew by 6.53%.

Net profit: Rs.150 Cr, declined by 66.75% from Rs.452 Cr on account of MTM losses, lower trading income and higher provisions towards bad debts.

Cost-to-income ratio at 44.84%.

H1 2018 — 19 HIGHLIGHTS (YoY):

OPERATIONAL EFFICIENCY:

Interest Income grew by 13.23% (Up from Rs.8296 Cr to Rs.9393 Cr) • Net Interest Income grew by 17.81% (Up from Rs.3003 Cr to Rs.3538 Cr)

Net Interest Margin improved by 25 bps (Up from 2.79% to 3.04%)

Fee Income : Rs.572 crore, grew by 13.85% YoY against Rs.502 Cr during the Year ago period.

Operating profit declined by 5.30% (from Rs.2628 Cr to Rs.2489 Cr) on account of decline in profit on sale of Investments. Excluding profit on sale of Investments, the growth was 19.59%.

Net profit: Rs.359 crore, declined by 56.37% from Rs.824 crore.

Cost-to-income ratio at 43.52%

ASSET QUALITY:

Stressed assets (Gross NPA + Restructured Standard) as a percentage of Gross advances reduced by 167 bps to 8.02% as on 30.09.2018 vis-a-vis corresponding period level of 9.69%. (Was 8.42% as on 30.06.18).

Gross Non-performing assets as on 30.09.2018 was at 7.16% as against 6.67% as on 30.09.2017 (GNPA as on 30.06.2018 was 7.20%) Net non-performing assets as on 30.09.2018 was at 4.23% as against 3.41% as on 30.09.2017 (NNPA as on 30.06.2018 was 3.79%)

Provision coverage ratio as on 30.09.2018 was at 60.82% as against 65.40% as on 30.09.2017 (PCR as on 30.06.2018 was 64.38%).
CAPITAL ADEQUACY/NETWORTH:

Capital Adequacy Ratio (CAR) as per Basel III guidelines — 12.73%. Of which Total Tier I was 11.53% (CET 1: 11.20% + AT1: 0.33%) and Tier II was 1.20%.

Networth increased by 6.38% to Rs.16290 crores. e Book valueper share increased to Rs.339.17 (from Rs.318.82).

NATIONAL GOALS — POSITION AS ON 30 09 2018:

Priority Sector portfolio – Rs.64822 crore (46.32% of ANBC) – (Target 40%)

Advances to Weaker Section – Rs.15833 crore (11.31% of ANBC) – (Target 10%)

PRADHAN MANTRI MUDRA YOJANA (PMMY): Rs.821 crore disbursed during the Half year ended September 2018.

 

CUSTOMER TOUCH POINTS:

9157 (2827 Domestic branches. 3 Overseas Mangle. 3574 ADN8NA. anti 2748 0.W Business Catespondeets)

PERFORMANCE UNDER MGM. CHANNELS—CURRENT YEAR

Mobile banking transactions grew by 78% (13.21 Mio from 7.42 Mio).

Internet banking transactions touched 6.75 Mio growing by 8.17% from 614 Mio.

Volume of POS transactions grew by 15.08% from 26.65 Iakhs to 30.7 Iakhs.

PERFORMANCE UNDER ATAL PENSION YOJANA CAMPAIGN:

Bank emerged as No:1 among all major banks in the recently concluded “Makers of Excellence 2.0” and “Rise Above Rest” campaigns based on the per branch average with an increase of 13 and 10 respectively during the campaign.

NEW INITIATIVES:

PSB LOAN IN 59 MINUTES – 602 loans amounting to 2328.04 crore approved.

KEY AWARDS AND ACCOLADES:

ASSOCHAM SMEs Excellence Award – 2018 under ‘Micro Lending’

‘Best Performance under Lending to SHG’ in the State of Tamil Nadu for FY 2017-18

Government of India’s “Rajbhasha Kirti Puraskar” for ‘Outstanding Performance in implementation of Official Language’ during the year 2017-18.

 

 

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