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Indian Bank records nearly 10% YoY growth in loan book in Q3; deposits at Rs 7.02 lakh crore

06-Jan-2025 | 12:18

Indian Bank has reported 9.6% rise in gross advances to Rs 5.59 lakh crore as on 31 December 2024 from Rs 5.10 lakh crore as on 31 December 2023.

Total deposits of the bank stood at Rs 7.02 lakh crore as on 31 December 2024, up by 7.3% from Rs 6.54 lakh crore as on 31 December 2023.

The bank?s total business at the end of the December?24 quarter added up to Rs 12.61 lakh crore, up by 8.3% YoY.

Indian Bank is a public sector bank. The Government of India held 73.84% stake in the bank as on 30 September 2024.

The bank?s net profit increased 36.2% to Rs 2706.44 crore on a 12.9% rise in total income to Rs 17,769.68 crore in Q2 FY25 as compared with Q2 FY24.

The scrip fell 3.18% to currently trade at Rs 507.75 on the BSE.