Financial Results for the Quarter/Nine months ended as on 31st December 2022

Key Highlights (Quarter ended Dec’22 over Dec’21)

● Net Profit up by 102% YoY at ₹1396 Cr in Dec’22 from ₹690 Cr in Dec’21

● Operating profit for Dec’22 up by 24% YoY at ₹4061 Cr from ` 3288 Cr in Dec’21

● Net Interest Income increased by 25% YoY to ₹5499 Cr in Dec’22 from ₹4395 Cr in Dec’21

● Fee based income grew by 6% YoY to ₹704 Cr in Dec’22

● Cost-to-Income Ratio stood at 43.71% in Dec’22 as against 44.75% in Dec’21

● Domestic NIM increased to 3.74% in Dec’22 from 3.03%in Dec’21

● Return on Assets (RoA) improved to 0.80% in Dec’22 as against 0.43% in Dec’21

● Return on Equity (RoE) increased to 15.21% for Dec’22 as against 8.26% in Dec’21

● Advances increased by 13% YoY to ₹451658 Cr in Dec’22 from ₹400432 Cr in Dec’21

● RAM (Retail, Agriculture & MSME) advances grew by 12%YoY to ₹262811 Cr in Dec’22 from ₹233738 Cr in Dec’21

● RAM contribution to gross domestic advances is 62%. Retail, Agri & MSME advances grew by 15%, 15% and 6%YoY respectively. Home Loan (Including mortgage) grew by 12% YoY, Auto Loan by 27% YoY and Personal Loan by 35% YoY

● Deposit increased by 6% YoY and reached to ₹597114 Cr in Dec’22

● CASA ratio stood at 40.4%

● GNPA decreased by 260 bps YoY to 6.53% in Dec’22 from 9.13%, NNPA reduced by 172 bps to 1% from 2.72% in Dec’21

● Provision Coverage Ratio (PCR, including TWO) improved by 810 bps YoY to 93.59% from 85.49% in Dec’21

● Capital Adequacy Ratio at 15.74%. CET-I improved by 59 bps YoY to 11.97%
Tier I Capital improved by 55 bps YoY to 12.58%

Key Highlights (Quarter ended Dec’22 over Sep’22)

● Net Profit up by 14% QoQ to ₹1396 Cr in Dec’22 from ₹1225 Cr in Sep’22

● Operating profit up by 12% and stood at ₹4061 Cr in Dec’22 from ₹3629 Cr in Sep’22

● Net Interest Income grew by 17% QoQ in Dec’22 to ₹5499 Cr from ₹4684 Cr in Sep’22

● On a QoQ sequential basis, Return on Assets (RoA) improved by 9 bps to 0.80% in Dec’22 as against 0.71% in Sep’22.

● Return on Equity (RoE) stood at 15.21% in Dec’22 as against 13.83% a quarter ago

● Cost-to-Income Ratio stood at 43.71% in Dec’22 as against 44.27% in Sep’22

● Net Interest Margin (NIM) Domestic increased by 54 bpsto 3.74% in Dec’22 as against 3.20% in Sep’22

● Net Profit up by 30% YoY to ₹3834 Cr in 9MFY23 from ₹2961 Cr in 9MFY22

Key Highlights (9M ended Dec’22 over Dec’21)

● Operating profit increased by 13% at ₹11255 Cr from ₹9979 Cr

● Net Interest Income grew by 18% to ₹14717 Cr in 9MFY23from ₹12473 Cr in 9MFY22

● Return on Assets (RoA) increased to 0.75% in 9MFY23from 0.62%

● Return on Equity (RoE) improved to 14.42% from 12.24% in 9MFY22

● Cost-to-Income Ratio stood at 43.35% as against 43.99%in 9MFY22

● Net Interest Margin (NIM) Domestic increased by 42 bpsto 3.35% in 9MFY23 as against 2.93% in 9MFY22

Key Highlights of Business Performance as on 31^stDecember 2022

Business:

● Total Business recorded a YoY growth of 9% reaching the level of ₹1048772 Cr in Dec’22 as against ₹963007 Cr in Dec’21. It stood at ₹1026801 Cr in Sep’22.

● Advances grew by 13% to ₹451658 Cr in Dec’22 over ₹400432 Cr a year ago. Growth in RAM sector is recorded at 12% YoY of which Retail & Agriculture grew by 15% YoY.

● Deposits grew by 6% YoY to ₹597114 Cr in Dec’22 as compared to ₹562575 Cr during the corresponding period a year ago.

● CASA deposits recorded a YoY growth of 3% and stood at ₹241213 Cr in Dec’22. The share of CASA to deposits stood at 40.4%.

● Priority Sector portfolio stood at ₹152850 Cr in Dec’22. Priority sector advances as a percentage of ANBC stood at 45.19% as against the regulatory requirement of 40%.

Network:

● The Bank has 5770 domestic branches, out of which 1959are Rural, 1509 are Semi-Urban, 1161 are Urban & 1141 are in Metro category. The Bank has 3 overseas branches & 1IBU.

● The Bank has 4969 ATMs & BNAs and 10368 number of BCs.

Digital Banking:

● The Bank has established 3 Digital Banking Units (DBUs) at South Delhi, Lucknow and Karaikal.

● Transactions through ATM, BNA & Digital channels improved by 7% YoY.

● Mobile Banking users increased by 73% YoY, while its transactions increased by 85% YoY.

● UPI users and transactions increased by 19% YoY and 91% YoY respectively.

Awards & Accolades:

● Bank bagged the Best Performing Bank award in Tamil Nadu state for SHG-Bank linkage programme for FY22 from NABARD.

● Bank emerged as the winner for top improvement in the EASE 4.0 reforms index.

● Bank grabbed Financial Express award for the Best Public Sector Bank 2020-21.

● Bank was awarded the “Fastest Growing Public Sector Bank” in Banking Awards 2022 by Dalal Street Investment Journal.

● Bank was adjudged the Best Bank for servicing in MSME by FICCI CMSME.

Our Focus

Indian Bank’s vision is to foster innovation in the banking operations and offer services with technical prudence, ease of business through employee engagement and upgrade security features of the alternate delivery channels consistently.

The Bank is in a better financial health, well capitalised and the asset quality is continuously improving. Our emphasis would be on improving the low cost deposit base with focus on CASA, build a strong retail term deposits portfolio through new relationships and target a healthy and quality credit growth in the both RAM and Corporate Sector.