Indian Bank (INDIANB)

Indian Banks Show Stellar Performance Despite Challenges - 22 Jul, 2024

The Indian banking sector has shown double-digit growth in bank credit, gross and net non-performing assets at multi-year lows, and improvement in bank asset quality despite challenges such as slower deposit growth and increasing retail participation in stock markets.

Indian Banks and NBFCs Experience Minor Disruptions Due to Global IT Outage - 19 Jul, 2024

The Reserve Bank of India has clarified that ten Indian banks and non-bank financing companies experienced minor disruptions due to the global IT outage on Friday, but all have been resolved or are being resolved. The RBI stated that the Indian financial sector remains insulated from the global outage.

Indian Bank Stock Rises for Fifth Straight Session - 15 Jul, 2024

Indian Bank stock rose 2.68% to Rs 573.7 on the NSE, adding around 6.23% in the last month. The PE of the stock is 9.33 based on TTM earnings ending March 24.

Indian Bank Stock Rises for Third Straight Session - 11 Jul, 2024

Indian Bank stock rose by 1.35% to Rs 550.35 on the NSE, while the benchmark NIFTY is down around 0.09%. The bank has risen around 2.24% in the last month and has a PE of 9.06 based on TTM earnings ending March 24.

Indian Bank Reports Strong Q1FY25 Results - 08 Jul, 2024

Indian Bank has reported a strong Q1FY25 performance, with a 10.9% YoY increase in total business to Rs 12.21 lakh crore, driven by growth in deposits and gross advances.

Indian Bank Reports Growth in Total Business - 07 Jul, 2024

Indian Bank has reported a YoY growth of 10.9% in total business, with deposits up 9.5% and gross advances up 12.7%. The bank also owes Rs 3,278 crore to 14 banks, including SBI, Union Bank, and Punjab National Bank.

RBI Report Warns of Climate Change Risk; Indian Bank Extends FD Deadline - 05 Jul, 2024

The Reserve Bank of India's latest report warns of climate change as the biggest contributor to systemic risk in the Indian financial system. Meanwhile, Indian Bank has extended its deadline for special fixed deposits offering higher interest rates.

Indian Banks Struggle with Education Loan Defaults - 01 Jul, 2024

Education loans have become a paradox for Indian banks, as they contribute the highest portion of bad loans in the personal loan segment. Despite going the extra mile to lend to students, banks are struggling to get their money back.

Indian Bank Stock Rises for Third Straight Session - 28 Jun, 2024

Indian Bank stock rose by 1.18% to Rs 547.55 on the NSE, while the benchmark NIFTY is down around 0.06%. The bank has dropped around 4.99% in the last month and has a PE of 9.03 based on TTM earnings ending March 24.

Indian Banks Report Multi-Year Low in Gross NPA Ratio - 27 Jun, 2024

The Reserve Bank of India's financial stability report shows that Indian scheduled commercial banks have reported a multi-year low in their gross non-performing asset (GNPA) ratio, falling to 2.8%. This has boosted profitability and declined non-performing assets, with return on assets (RoA) and return on equity (RoE) close to decadal highs at 1.3% and 13.8%, respectively.

Indian Banks' Operating Efficiency Erodes Due to Rise in Expenditure and Margin Pressure - 24 Jun, 2024

The operating efficiency of Indian banks has eroded due to a rise in operating expenditure and pressure on margins, with the aggregate cost-to-income ratio rising to 57.08% for the year ended March 2024 from 48.65%. This is attributed to interest rates peaking and expected to fall, putting pressure on margins, as well as heavy investments in expansion and technology infrastructure. S&P Global Market Intelligence notes that despite this, Mainland China still houses some of the most efficient banks in Asia-Pacific.

Indian Bank Employees Demand Better Safety Standards - 23 Jun, 2024

The United Forum of Bank Unions has asked for better safety standards at bank branches following the death of at least 11 bankers and employees due to COVID-19. The demand includes better cleanliness and more flexibility in staff work schedules.