The bank set aside Rs 1,226 crore as provisions and contingencies against Rs Rs 795 crore in the year-ago period. Provisions to cover bad loans stood at Rs 748 crore.
Gross non-performing assets fell to 1.98% at the end of March from 3.09% a year prior. Net NPA reduced to 0.15% from 0.19% over the same period. Provision coverage ratio stood at 98.28%.
“The banking sector this year may see challenges in terms of treasury operation if interest rate hardens as a fallout of the West Asia conflict,” Indian Bank managing director Binod Kumar told ET, while expressing optimism over steady growth in advances.
The bank has given guidance of 11-13% advance growth for this fiscal as compared with 10-12% growth projection given for FY26.
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Its advances last year however grew 13.4% to Rs 6.67 lakh crore at the end of March. Deposits rose 12.3% to Rs 8.28 lakh crore with current and savings bank account share being at 39.7%.
The bank has created an additional Rs 310 crore provision buffer to cover any likely risk arising out of the West Asia crisis-led supply chain disruptions.
Fino Payments Bank Q4 profit plunges 70%
Fino Payments Bank, which has been navigating a leadership crisis over the past two months, reported a 70% drop in fourth quarter net profit at Rs 7.1 crore as compared with Rs 24 crore in the year ago period.
Its total income also stood 31% lower year-on-year at Rs 340 crore for the quarter against Rs 494 crore earlier.
The annual net profit for FY26 stood at 52.5 crore, 43% lower from Rs 92.5 crore in the preceding fiscal on 14% lower revenue at Rs 1,588 crore.
The bank however managed to open about 7 lakh accounts during the fourth quarter while the total customer base reached 1.75 crore.
Interim chief executive Ketan Merchant said that the bank’s total deposits reached an all-time high of Rs 2,957 crore in March, which he described as “a testimony to the trust our customers place in us, even in challenging times”.
Managing Director & CEO Rishi Gupta was arrested on February 27 in an investigation concerning evasion of goods and service tax by the bank’s business partners. Gupta was subsequently granted bail on March 26.