Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 18114.94 Crore).
Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 11556.02 Crore, down -.77 % from last quarter Total Income of Rs 11645.82 Crore and up 7.75 % from last year same quarter Total Income of Rs 10724.53 Crore. The bank reported net profit after tax of Rs 1024.31 Crore in latest quarter.
Retail loans grew 6.3% QoQ, within which non-priority jewel loans grew 13.1% QoQ. Agri loans, MSME loans and corporate loans grew 3.3% QoQ, 1.8% QoQ and 1.1% QoQ, respectively. Wholesale loan growth has been subdued due to conscious decision not to deploy capital into low-yielding loans. Management expects a minimum loan growth of 8-10% in FY23. It maintains ‘Buy’ rating on INBK with a revised price target of Rs 166. It values the bank at 0.5x FY23 P/BV for an FY23E/24E RoE profile of 11.0/12.3%.
Promoters held 79.86 per cent stake in the company as of 31-Mar-2022, while FIIs owned 1.73 per cent, DIIs 11.12 per cent.
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