Indian Bank net up 32.77% at Rs 1,008.74 cr

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New Delhi, May 1 (UNI) Indian Bank today said it has registered a 32.77 per cent growth in its net profit at Rs 1,008.74 crore during the financial year 2007-08, against Rs 759.77 crore last fiscal.

The Chennai-based Bank's total business has reached Rs 1,01,274 crore during FY08, registering an increase of 32.22 per cent.

''The Bank has excelled in all sectors - in the total business, net worth, operating profit, net profit, EPS and other key ratios,'' Bank Chairman and Managing Director M S Sundara Rajan said while announcing the results here.

The operating profit for FY08 stood at Rs 1,659.30 crore as against Rs 1,358.59 crore for 2006-07, an increase of 22.13 per cent.

Total income for the year rose to Rs 6,218.66 crore registering a growth of 23.93 per cent over Rs 5,017.86 crore during 2006-07.

Mr Rajan said 30 per cent dividend will be given to its equity shareholders.

The Bank's total deposits has grown by Rs 13,955 crore to Rs 61,046 crore with a jump of 29.63 per cent for the year.

The Bank expects a growth of 20 per cent in deposits and 25 per cent in advance during the current financial year, he added.


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