Indian Bank’s net profit declines
According to state-owned Indian Bank, the bank’s net profit fell 42.4% to Rs. 984 / – crore. In the same quarter last year, the amount was Rs. 1709 / – crore. The bank said there was an increase in deferred tax assets and other provisions. Right Back Bank has received Rs. 161 / – crore. Total provision has increased to 20.4%. This amount is Rs. 1914 / – crore. Operating profit increased by 15% to Rs. 2738 / – crore. Total income has increased by 9% to Rs. 11,405 / – crore.
