Indian Bank net up 14 percent
By IANSTuesday, January 20, 2009
CHENNAI - The city-based Indian Bank has posted a net profit of Rs.3.5 billion for the third quarter ended Dec 31, up 14 percent, as against Rs.3.07 billion declared in the corresponding period of 2007.
The bank’s total income went up 23.6 percent to Rs.20.71 billion (Rs.2,071 crore) during the period under review from Rs.16.76 billion (Rs.1,676 crore) earned during the third quarter of the last fiscal.
While the gross non-performing assets (NPA) went down to Rs.4.62 billion for the period under review from Rs.5.1 billion the previous year, the net NPA went up to Rs.803 million (Rs.80.3 crore) from Rs.778 million (Rs.77.8 crore).
The bank’s capital adequacy ratio has come down to 12.68 percent last quarter from 13.51 percent in the corresponding period the previous year.
