Indian Bank announced that Care Ratings has assigned Long Term Issuer Rating of CARE AAA/Stable to the Bank. Powered by Capital Market - Live News

Net profit of Indian Bank rose 38.96% to Rs 2570.40 crore in the quarter ended June 2024 as against Rs 1849.68 crore during the previous quarter ended June 2023. Total Operating Income rose 15.25% to Rs 15040.63 crore in the quarter ended June 2024 as against Rs 13049.94 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Total Operating Income15040.6313049.94 15 OPM %66.7960.45 - PBDT3262.932414.51 35 PBT3262.932414.51 35 NP2570.401849.68 39 Powered by Capital Market - Live News

Indian Bank will hold a meeting of the Board of Directors of the Company on 29 July 2024.Powered by Capital Market - Live News

The Board of Indian Bank at its meeting held on 22 May 2024 has approved fund/ capital raising plan of the Bank as under:(a) Raising Equity Capital of the Bank aggregating upto Rs.5000 Crore (including premium) through various modes viz. QIP/ FPO/ Rights Issue or in combination thereof subject to approval of Govt. of India, Reserve Bank of India and in compliance with other statutory/regulatory provisions in this regard.(b) Raising AT 1/ Tier-2 Capital aggregating upto Rs.2000 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.(c) Raising Long Term Infrastructure Bonds aggregating upto Rs.5000 crore in one or more tranches during the current or subsequent financial years based on the requirement, for financing/refinancing of Infrastructure and Affordable Housing in compliance with applicable RBI guidelines and other applicablelaws, rules and regulations.Powered by Capital Market - Live News

Indian Bank will hold a meeting of the Board of Directors of the Company on 22 May 2024Powered by Capital Market - Live News