Indian Bank — Regulatory Filings 2024

May 6, 2024

Ref. No.: ISC/49/2024-25 Date: 06.05.2024

NSE Symbol: INDIANB	BSE Scrip Code- 532814
Bandra East, Mumbai-400 051	Dalal Street, Mumbai-400001
Exchange Plaza,Bandra- Kurla Complex	25, P. J. Towers
National Stock Exchange of India Ltd.	BSE Ltd.
The Vice President	The Vice President

Dear Sir/ Madam,

Subject: Press release on Audited Financial Results of the Bank for the Fourth Quarter and Financial Year ended on March 31, 2024

In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a copy of Press Release on Audited Financial Results of the Bank for the Fourth Quarter and Financial Year ended on March 31, 2024.

This is for your information, record and dissemination please.

Yours faithfully,

For Indian Bank

DINA NATH KUMAR Digitally signed by DINA NATH KUMAR DN: st=TAMIL NADU, serialNumber=f9e22b8c1b4cbe397ea154 974bb1f6e21a396ec0948def3bce411148 4c37a148, postalCode=600014, ou=CO INVESTOR SERVICES CELL, o=INDIAN BANK, c=IN, cn=DINA NATH KUMAR Date: 2024.05.06 14:42:31 +05'30'

AGM & Company Secretary

Encl: a/a

Dflf3?lflc] /PRESS RELEASE

Financial Results for the Quarter/Year ended as on 31st March ²⁰²⁴

Bank's Global Business reached 512.22 lakh Cr, up by 12% YoY

Key Highlights (Quarter ended Mar'24 over Mar'23)

• Net Profit up by 55% YoY at ⁵²²⁴⁷ Cr in Mar'24from ⁵¹⁴⁴⁷ Cr in Mar'23
• • Profit Before Taxes up by 111% YoY at ⁵³⁰⁵⁷ Cr in Mar'24from ⁵¹⁴⁵² Cr in Mar'23
• • Operating Profit improved by 7% YoY to 54305 Cr in Mar'24from 54016 Cr in Mar'23
• Net Interest Income increased by 9% YoY to ⁵⁶⁰¹⁵ Cr in Mar'24from ⁵⁵⁵⁰⁸ Cr in Mar'23
• Fee based income grew by 6% YoY to ⁵⁹⁷⁰ Cr in Mar'24from ⁵⁹¹⁴ Cr in Mar'23
• Return on Assets (RoA) up by ³³ bps to1.15% in Mar'24from 0.82% in Mar'23 • Return on Equity (RoE) increased by ³⁵⁸ bps to19.06% in Mar'24from 15.48% in Mar'23
• Yield on Advances (YoA) up by ⁶⁴ bps to 8.81% in Mar'24from 8.17% in Mar'23
• Yield on Investments (Yol) increased by ²⁶ bps to 6.88% in Mar'24from 6.62% in Mar'23
• Gross Advances increased by 13% YoY to ^5533773 Cr in Mar'24from ^5473586 Cr in Mar'23
• RAM (Retail,Agriculture & MSME) advances grew by 14% YoY to ^5309918 Cr in Mar'24from 5272679 Cr in Mar'23
• RAM contribution to gross domestic advances is 62.21%. Retail, Agri & MSME advances grew by 15%, 19% and 6% YoY respectively. Home Loan (Including mortgage) grew by 11% YoY, Auto Loan by 49% YoY and Personal Loan by 10% YoY
• Priority sector advances as ^a percentage of ANBC stood at 43.82% at ^ 178527 Cr in Mar'24 as against the regulatory requirement of 40%
• Total Deposits increased by 11% YoY and reached to ^5688000 Cr in Mar'24. CASA deposit grew by 8%, savings deposit grew by 7% and Current deposit by 9% YoY
• • Domestic CASA ratio stood at 42.31% as on 31st Mar'24
• CD ratio stood at 77.58% as on 31st Mar'24
• GNPA decreased by ²⁰⁰ bps YoY to 3.95% in Mar'24from 5.95%, NNPA reduced by ⁴⁷ bps to 0.43%from 0.90% in Mar'23
• • Provision Coverage Ratio (PCR, including TWO) improved by 252 bps YoY to 96.34% in Mar'24from 93.82% in Mar'23
• Slippage Ratio contained to 1.11% in Mar'24 in comparison to 2.43% in Mar'23 i.e improvement of 132 bps YoY
• • Capital Adequacy Ratio stood at 16.44%. CET-I improved by ⁶³ bps YoY to13.52% Tier I Capital improved by 55 bps YoY to14.03%

Key Highlights (Quarter ended Mar'24 over Dec'23)

• Net Profit up by 6% QoQ to ⁵²²⁴⁷ Cr in Mar'24from ⁵²¹¹⁹ Cr in Dec'23
• Operating Profit improved by 5% YoY ⁵⁴³⁰⁵ Cr in Mar'24from ⁵⁴⁰⁹⁷ Cr in Dec'23
• Net Interest Income improved to ⁵⁶⁰¹⁵ Cr in Mar'24 as against ⁵⁵⁸¹⁵ Cr in Dec'23
• • Return on Assets (RoA) improved to 1.15% in Mar'24from 1.11% in Dec'23
• Yield on Advances (YoA) improved to 8.81%from 8.78% in Dec'23 and Yield on Investments (Yol) improved to 6.88% in Mar'24from 6.80% in Dec'23
• Domestic Net Interest Margin (NIM) improved to 3.52% in Mar'24from 3.49% in Dec'23

The Board of Directors recommended ^a dividend @ 120% amounting ^ 12 per equity share for FY24 subject to requisite approvals.

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Key Highlights (Year ended Mar'24 over Mar'23)

• Net Profit up by 53% YoY to * ⁸⁰⁶³ Cr in FY24from * 5282 Cr in FY23
• Profit Before Taxes up by 85% YoY at * ¹⁰⁹⁵¹ Cr in FY24from * 5915 Cr in FY23
• Operating Profit increased by 10% at* ¹⁶⁸⁴⁰ Cr in FY24from* 15271 Cr in FY23
• Net Interest Income grew by 15% to* ²³²⁷⁴ Cr in FY24from * 20225 Cr in FY23
• Return on Assets (RoA) increased by ³⁰ bps to 1.07% in FY24from 0.77% in FY23
• • Return on Equity (RoE) up by ⁴⁵¹ bps to19.24% in FY24from 14.73% in FY23
• • Domestic Net Interest Margin (NIM) increased by 13 bps to 3.54% in FY24from 3.41% in FY23
• • Yield on Advances (YoA) up by 96 bps to 8.72% in FY24from 7.76% in FY23
• • Yield on investments (Yol) increased by 35 bps to 6.80% in FY24from 6.45% in FY23
• • Cost to Income Ratio is 45.92%for FY24

Network:

• • The Bank has ⁵⁸⁴⁷ domestic branches (including ³ DBUs), out of which ¹⁹⁸⁵ are Rural, ¹⁵³⁰ are Semi-Urban, 1174 are Urban & 1158 are in Metro category. The Bank has 3 overseas branches & 1IBU.
• • The Bank has 4937 ATMs & BNAs and 11297 number of BCs.

Digital Banking:

• • Business through Digital Channels has reached to ^ 81,250 Cr. ^A total of 78 Digital Journeys, Utilities and Processes have been launched so far.
• • The number of Mobile Banking users has grown by 45% year over year,reaching 1.67 Cr.
• • Both UPI users and Net Banking Users have seen ^a 37% YoY increase, reaching 1.75 Crores and 1.06 Crores respectively.
• • The count of UPI QR merchants on-boarded has risen by 43% YoY, while the total number of Point of Sale (PoS) terminals has increased by 58% YoY, reaching ^a total of 21,580.

Awards & Accolades:

• • Bank was adjudged the Most Preferred Workplace in BSFI sector for 2023-24 by Marksmen Daily.
• • Bank topped among all the PSBs in campaign for MD & CEOs and EDs in Exemplary Award of Par Excellence APY Leadership Pinnacle.
• • Bank was awarded Fastest Growing Public Sector Bank by Dalai Street Investment Journal (DSIJ) in 2023 Banking awards.
• • Bank was conferred BFSI Award for Use of Emerging Technology in Banking Industry for Project "PARADISE" for Adoption of Cloud Computing for AiX Environment by GOVERNANCE NOW.
• • Chief Technology Officer of the Bank was awarded BFSI Award for the Best Digital Transformation Leader, CTO for the year 2023.
• • Bank got 'Best Technology Bank -Special Mention', in IBA ¹⁹th Annual Banking Technology Conference, Expo & Citations.

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Our Focus

Our focus is to deliver value-added and suitable solutions through the acumen of empowered employees and smart use of technology to cater the needs of the customers. Through ^a combination of cutting-edge technology and personalised service, we aim to simplify banking,making it more accessible, convenient and secure for everyone.

Bank has launched an array of digital products to facilitate customers for seamless and convenient banking experience. In ^a single click, one can apply for loans e.g. Agri jewel, Shishu Mudra,Personal,renew MSME & KCC loans,open fixed deposits and savings account, etc. To garner low cost deposits,Bank has set-up liability verticals in major cities of India to ensure customized service to esteemed corporates and government departments.

We aim to be a trusted partner driving positive change by using technology to deliver entire gamut of financial products under one roof and enabling our customers to thrive in an ever evolving financial landscape.

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