Indian Bank posts Rs.2.17 Bn net profit

Indian Bank posts 2.17 Bn net profit

Monday, 21 July 2008, 12:35 Hrs
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Chennai: Public sector bank Indian Bank has posted a net profit of 2.17 billion ($51.6 million) during the first quarter of the current fiscal compared to 2.12 billion in the same period last year.

The total income of the bank was around 17.44 billion during April-June 2008 against 13.75 billion in the previous year.

The bank earned 16.95 billion from domestic operations and 499.5 million from foreign operations during the period under review against 13.42 billion and 343.8 million respectively during April-June 2007.

Indian Bank spent around 9.62 billion on interest payment during the period against 7.12 billion in the previous year.

The gross non-performing assets (NPA) and net NPA stood at 4.2 billion and 757.1 million at the end of the first quarter compared to 5.46 billion and 852.7 million at the end of the same period last year.
Source: IANS
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