Indian Bank records 55.14 per cent growth

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Chennai, Oct 18 (UNI) Indian Bank has registered a creditable performance during the quarter ended September this year, recorging a growth of 55.14 per cent in operating profit and 14.27 per cent in net profit.

Addressing a press conference here, Mr M S Sundara Rajan, Chairman and Managing Director said the bank has excelled in all areas like total business, net worth, operative profit, net profit and other key ratios.

He said the bank recorded an operating profit of Rs 532.80 crore for the quarter compared to Rs 343.44 crore for the corresponding period, last year, registering a growth of 55.14 per cent.

The net profit improved to Rs 282.93 crore, compared to Rs 247.59 crore, registering a growth of 14.27 per cent. The interest income also improved to Rs 1688.15 crore from Rs 1257.38 crore, against the backdrop of strong growth in advances, he said.

UNI WS VV 1645

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