Indian Bank aims to recover ₹7,000 crore bad debts this fiscal, with plans for fund raising and branch expansion.

Indian Bank plans to recover ₹7,000 cr. bad debts in FY25

Public sector Indian Bank has targeted to recover about Rs 7,000 crore during the current financial year, a top official said on Tuesday.

Indian Bank eyes recovery of Rs 7,000 crore this financial year : MD & CEO

Indian Bank has set a target to recover around Rs 7,000 crore during the current financial year, with approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore. The bank reported a 41% increase in net profit to Rs 2,403 crore for the April-June 2024 quarter due to a decline in bad loans. The recovery is expected to be more than the slippages during the current financial year.

Indian Bank eyes recovery of Rs 7,000 crore this financial year : MD & CEO Shanti Lal Jain

Indian Bank Steady Q1: Net Profit Grown By 41%, Asset Quality Improves | Shanti Lal Jain | ET Now

Bank’s profitability continues to improve supported by declining credit cost, stable margins and reasonable growth, says the brokerage.

Indian Bank Q1 Results Review - Multiplies Nearly 3.8 Times But Still Has Material Upside: Yes Securities

Among lenders, Punjab National Bank charged the highest sum of Rs 633 crore followed by Bank of Baroda at ?386 crore for non-maintenance quarterly balance. Indian Bank charged Rs 369 crore as penalty for non-maintenance of average monthly balance.

PSBs charged Rs 2k cr in FY24 for not keeping minimum balance

Indian Bank’s Q1 net profit up 41% to ₹2,403 crore, with growth in income, asset quality, and business segments.

Indian Bank Q1 standalone net rises 41% to ₹2,403 cr.

Indian Bank Q1 results: Its operating profit improved by 9 per cent year-on-year (Y-o-Y) to Rs 4,502 crore in June 2024 from Rs 4,135 crore in June 2023

Indian Bank Q1 results: Net profit rises 41% to Rs 2,403 crore

State-owned Indian Bank reported 41% year-on-year jump in net profit for the June quarter at Rs 2403 crore against Rs 1709 crorein the year ago period, helped by a fall in total provisions.

Indian Bank Q1 Results: Net profit soars 41% to Rs 2,403 crore, NII up 8%

State-owned Indian Bank on Monday posted a 41 per cent jump in its net profit to Rs 2,403 crore for the June 2024 quarter due to a decline in bad loans.

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

Total Operating Income rise 15.25% to Rs 15040.63 crore

Indian Bank consolidated net profit rises 38.96% in the June 2024 quarter

Price return has been average, nothing exciting

Performance

Can be considered moderately valued vs the market

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Indian Bank offers deposits, loans and services. The Bank's segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations.

Indian Bank