- Indian Bank reported a net income of 28.5 billion rupees for the third quarter, marking a 34% increase year-over-year, beating estimates of 25.23 billion rupees.
- The operating profit for the quarter was 47.5 billion rupees, up 16% year-over-year, surpassing the expected 45.23 billion rupees.
- Gross non-performing assets improved slightly to 3.26%, down from 3.48% in the previous quarter.
- Provisions decreased by 3.6% from the previous quarter to 10.6 billion rupees, better than the estimated 11.23 billion rupees.
- Interest income rose by 11% year-over-year to 157.6 billion rupees, slightly above the estimated 157.26 billion rupees.
- Interest expenses also increased by 11% year-over-year to 93.4 billion rupees, which was slightly below the expected 94.09 billion rupees.
- Other income grew by 13% year-over-year to 21.5 billion rupees.
- The bank’s shares increased by 3.7%, trading at 533.30 rupees with 1.23 million shares exchanged.
- There are 9 buy ratings, 2 hold ratings, and no sell ratings for Indian Bank‘s stock.
A look at Indian Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Indian Bank, a full-service bank under the Government of India, has garnered positive Smartkarma Smart Scores across the board. With high scores in Value and Dividend factors, Indian Bank showcases strong fundamentals and reliable returns for investors. The Growth, Resilience, and Momentum scores, though slightly lower, still indicate a promising outlook for the bank’s future performance. This combination of top scores positions Indian Bank as a stable and lucrative investment option in the long term.
As a trusted financial institution with a diverse range of services, Indian Bank‘s strategic placement in key locations like Colombo, Chennai, Bangalore, and Mumbai for foreign exchange transactions underscores its commitment to catering to a global clientele. Investors looking for a solid bank investment with a blend of value, dividends, growth potential, resilience, and momentum can find a favorable prospect in Indian Bank based on its favorable Smartkarma Smart Scores.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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