Indian Bank announced Q1FY25 results: The net profit of Indian Bank surged by 41% YoY, reaching an impressive Rs 2,403 crore in June 2024, indicating robust financial growth. A steady uptick in operating profit was observed, with a 9% YoY increase, amounting to Rs 4,502 crore in June 2024. Indian Bank's Return on Assets improved significantly by 25 basis points to 1.20% in June 2024, reflecting enhanced asset utilization efficiency. An increase in the bank's Return on Equity by 188 basis points to 19.76% in June 2024 suggests shareholders are receiving higher returns on their investments. Gross advances exhibited a healthy growth of 12%, with the bank reporting Rs 5,39,123 crore in June 2024. The retail, agriculture, and MSME (RAM) sectors witnessed a 13% YoY growth, demonstrating Indian Bank's support for diverse sectors of the economy. Indian Bank's total deposits reached Rs 6,81,183 crore in June 2024, marking a 10% YoY increase and showcasing trusted customer relationships. The bank maintained a robust domestic CASA ratio at 41% as of 30th June 2024, underlining a strong liquidity and savings base. A significant reduction in the Gross Non-Performing Assets (GNPA) was reported, decreasing by 170 basis points to 3.77% in June 2024. The Provision Coverage Ratio of the bank improved, highlighting a proactive approach to covering potential asset risks. Indian Bank generated Rs 36,678 crore of business through digital channels in the first quarter of 2024, indicating a digital-forward strategy. The bank rolled out 84 digital journeys, utilities, and processes, propelling the customer experience towards seamless digital banking. Indian Bank boasted 5,846 domestic branches along with an extensive ATM and BNA network, ensuring accessibility across diverse regions. The commitment to expand digital banking and the number of mobile banking and UPI users reinforces the bank's focus on financial inclusivity. Result PDF