| |
 |
THE HINDU
|
16.10.07
|
Indian Bank H1 net up 38 p.c.
Overall business rises to Rs. 86,000 cr.
Net NPA down at Rs. 86.59 cr.
Extends Rs. 265 cr. credit to SHGs |
Indian Bank has reported a net profit of Rs. 459.62 crore for the
half-year ended September 2007, up from Rs. 334 crore for the
corresponding period last year. This represents a growth of
37.6 per cent. The operating profit has grown by 27.8 per cent
to Rs. 673.17 crore (Rs. 526.80 crore). The net interest income
has risen by 10.8 per cent to Rs. 956.18 crore (Rs. 863.09 crore).
Interest income grew by 23.5 per cent to Rs. 2,454.76 crore.
Other income grew by 75.6 per cent to Rs. 415.11 crore. Total
income improved by 29 per cent to Rs. 2,869.87 crore (Rs. 2,224.73
crore).
The overall business of the bank has grown by 22.3 per cent
to Rs. 85,954 crore (Rs. 70,316 crore) for the period under
review. Total deposits have risen by 21.8 per cent to Rs. 53,747
crore (Rs. 44,124 crore). Net advances have increased by 22.9
per cent to Rs. 32,207 crore (Rs. 26,192 crore). Gross non-performing
assets (NPA) has declined to 1.58 per cent (Rs. 515.56 crore)
from 2.34 per cent (Rs. 625 crore). As on September 2007, the
bank’s net NPA has come down to Rs. 86.59 crore. During the
first half-year, total NPA recovery is placed at Rs. 189 crore.
Addressing a press conference here on Monday, M. S. Sundara
Rajan, Chairman and Managing Director, said the total priority
sector advances had grown by 11.9 per cent during the half-year
under review, with an outstanding of Rs. 13,424 crore. Agriculture
advances had risen by 11.6 per cent to Rs. 5,371 crore, he added.
Assistance to the priority sector and agriculture constituted
47.7 per cent and 19.1 per cent, respectively, of net bank credit.
During the half-year ended September 2007, the bank had disbursed
Rs. 2,384.94 crore (Rs. 2,067.87 crore) as agricultural loan.
The bank had disbursed Rs. 264.83 crore as credit to 24,406
self-help groups, he added.
|
|
|
