Net Interest Income (NII) rose by 29% to Rs 5,508 crore while domestic Net Interest Margin (NIM) has improved to 3.59% in Q3 FY23 over Q3 FY22.

The bank's operating profit has risen by 46.68% to Rs 4,015.57 crore in Q4 FY23 from Rs 2,737.58 crore in Q4 FY22.

CASA deposits recorded a YoY growth of 5% and stood at Rs 2,60,809 crore in March 2023. The share of CASA to deposits stood at 42%.

Gross non-performing assets (NPA) amounted to Rs 28,179.53 crore in Q4 FY23 as against Rs 29,483.91 crore in Q3 FY23 and Rs 35,214.25 crore in Q4 FY22.

Gross NPA ratio was at 5.95% as on 31 March 2023 as against 6.53% as on 31 December 2022 and 8.47% 31March 2022.

Net NPA ratio was at 0.90% as on 31 March 2023 as against 1 % as on 31 December 2022 and 2.27% as on 31 March 2022.

Advances increased by 14% YoY to Rs 4,73,586 crore in March 2023 from Rs 4,15,625 crore in March 2022. Deposits increased by 5% YoY to Rs 6,21,166 crore in March 2023.

Capital adequacy ratio was at 16.49%. CET-1 improved by 36 bps YoY to 12.89%. Tier I capital improved by 31 Bps YoY to 13.48%.

Meanwhile, the board has recommended dividend of Rs 8.60 per equity share for FY23.

The board has also approved to raise capital aggregating upto Rs 4,000 crore (including premium) through various modes viz. qualified institutional placement (QIP), further public offer (FPO), rights issue or in combination thereof.

Further, the board has approved to raise additional tier 1/ tier-2 capital aggregating upto Rs 3,000 crore through issuance of Basel III Compliant AT 1 perpetual bonds / tier 2 bonds in one or more tranches during the current or subsequent financial years based on the requirement.

As on 31 March 2023, the bank has 5,787 domestic branches, 3 overseas branches & 1 IBU, 4,929 ATMs & BNAs and 10,750 BCs.

Indian Bank is a public sector bank. The Government of India held 79.86% stake in the bank as on 31 March 2023.

The scrip tumbled 4.93% to Rs 315.45 on the BSE.