IndusInd Bank Q3 results: Net profit declines 39%

In the third quarter of fiscal year 2025, IndusInd Bank recorded a net profit of Rs 1,402 crore on January 31, 2025, which was 39% less than the Rs 2,301 crore reported in the same quarter the year before.

The net profit for IndusInd Bank's October–December quarter was predicted to drop 38.6% year over year to Rs 1,411 crore, while the net interest income was predicted to increase by 10% to Rs 5,833 crore.

At Rs 5228 crore, the net interest income (NII) was 1.2% less than the Rs 5,295 crore earned the previous year.

Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

In Q3 of FY25, the lender's gross non-performing assets (GNPA) were Rs 8375 crore, or 2.25 percent, as opposed to Rs 6,279 crore, or 1.92 percent, in the previous year.

Net Non-Performing Assets (NNPA) stood at Rs 2496 crore (0.68 percent) versus Rs 1,864 (0.57 percent) last year.

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Punjab National Bank(PNB) Q3 net profit doubles, NII up 7.2%

 

On Friday, Punjab National Bank said that its standalone net profit for the third quarter, which ended on December 31, 2024, had doubled to Rs 4,508 crore. In the previous year's October–December quarter, the bank made a net profit of Rs 2,223 crore.

According to a regulatory statement by Punjab National Bank (PNB), the bank's overall revenue climbed to Rs 34,752 crore in the third quarter of the current fiscal year from Rs 29,962 crore in the same time last year.

Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

The bank's interest income increased from Rs 27,288 crore during the same time last fiscal year to Rs 31,340 crore during the quarter. In comparison to Rs 10,293 crore in the same quarter, the bank's Net Interest Income (NII) increased 7.17 percent to Rs 11,032 crore.

Regarding asset quality, the bank's gross non-performing assets ratio decreased from 6.24 percent to 4.09 percent in the previous year. Similarly, at the conclusion of the third quarter of the previous fiscal year, net non-performing assets (NPAs), or bad loans, decreased from 0.96 percent to 0.41 percent. Consequently, provisions for bad loans decreased from Rs 2,994 crore in the previous year to Rs 318 crore in the current quarter.

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Bank of Baroda(BoB) Q3 Net profit rises 6%, NII up 3%

A net profit of Rs 4,837 crore was announced by Bank of Baroda on Thursday for the third quarter that concluded on December 31, 2024. Compared to Rs 4,579 crore in the October-December quarter of the prior year, the consolidated profit increased by 5.6%. 

According to a regulatory statement by Bank of Baroda, the bank's overall revenue climbed from Rs 31,416 crore in the previous fiscal year to Rs 34,676 crore in the third quarter of the current one.

Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

 According to Bank of Baroda, interest income increased to Rs 30,908 crore during the quarter from Rs 28,605 crore during the same period in the previous fiscal year. In the same quarter, the bank's Net Interest Income (NII) increased by 2.8% to Rs 11,417 crore from Rs 11,101 crore.

By the end of December 2023, the gross non-performing asset (NPA) had decreased to 2.43 percent from 3.08 percent. In a same vein, the net non-performing asset (NPA) decreased from 0.70 percent at the end of 2023 to 0.59 percent.

 However, compared to the same quarter of the previous fiscal year, when provisions and contingencies were Rs 666 crore, they increased to Rs 1,082 crore during the third quarter of FY25.

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Indian Bank Q3 Profit surges 35% YoY

The third quarter net profit of the state-owned Indian Bank increased by 35% year over year to Rs 2852 crore from Rs 2119 crore in the previous year due to fewer provisions and higher earnings. 

The quarter's net interest margin increased from 3.41% to 3.45%. Binod Kumar, the bank's new managing director, stated that the increase in profitability was a result of both a good recovery and higher net interest income. This position was taken up by Kumar earlier this month.

 Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

At 4749 crore as opposed to Rs 4097 crore, the bank's operational profit was 16% higher year over year. Compared to Rs 5815 crore, net interest income increased by 10% to Rs 6415 crore. At Rs 1059 crore as opposed to Rs 1349 crore, the total provisions were less.

In keeping with the improvement in asset quality, provisions to cover bad loans totaled Rs 611 crore out of this, compared to Rs 906 crore. 

At the end of December, its gross non-performing assets ratio dropped from 4.47% to 3.26%. Compared to 0.53%, net NPA was 0.21%. The provision coverage ratio increased to 90.09%, a 219 basis point improvement.

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Union Bank of India Q3 Net profit jumps 28%

On Monday, January 27, the state-owned Union Bank of India said that its net profit for the third quarter, which ended on December 31, 2024, increased 28.2% year over year (YoY) to Rs.4,603.6 crore.

 According to a regulatory filing, Union Bank of India reported a net profit of Rs.3,589.9 crore for the same quarter of the previous fiscal year. The difference between a bank's interest revenue from lending and the interest it pays depositors is known as net interest income (NII), and it rose by 0.8% to Rs.9,240.2 crore from Rs.9,168 crore in the same quarter of FY24.

In the December quarter, the gross non-performing asset (GNPA) was 3.85%, compared to 4.36% in the September quarter. Net NPA was 0.82%, down from 0.98% in the previous quarter. Monetary-wise, net non-performing assets (NPA) were Rs.7,568.4 crore compared to Rs.8,758.6 crore, while gross NPA was Rs.36,554.3 crore compared to Rs.40,498.9 crore. 

Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

Provisions were Rs.1,599.1 crore as opposed to Rs.1,712.2 crore for the quarter and Rs.1,747.8 crore for the quarter. As of December 31, 2024, Union Bank of India's global deposits have increased by 3.76% year over year to Rs.12,16,562 crore. With gross advances rising 5.94% year over year, the bank's whole business rose by 4.70%, contributing to a total business size of Rs.21,65,726 crore.

The RAM (Retail, Agriculture, and MSME) segment witnessed a robust 9.26% year-on-year growth, driven by a 16.36% rise in retail advances, a 4.34% increase in agriculture loans, and a 6.34% uptick in MSME advances. RAM advances now constitute 56.69% of the bank's domestic advances.

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Federal Bank Q3 profit falls 5%

Federal Bank, a private sector lender, announced on Monday that its third quarter net profit, which ended in December 2024, decreased by 5% to Rs 955 crore. In the same quarter last year, the bank made a net profit of Rs 1,007 crore.

However, according to a regulatory filing from Federal Bank, overall income rose to Rs 7,725 crore during the reporting quarter from Rs 5,593 crore during the same period last year.

 

In addition, interest income increased to Rs 6,809 crore during the reviewed quarter from Rs 5,730 crore during the same period last year. In the third quarter of the previous fiscal year, operating profit increased to Rs 1,559 crore from Rs 1,437 crore.

On the asset quality front, the bank's gross non-performing assets ratio improved to 1.95 per cent as against 2.29 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.49 per cent from 0.64 per cent at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax, tripled to Rs 292 crore during the quarter from Rs 91 crore a year ago. Capital Adequacy Ratio rose to 15.16 per cent from 15.02 per cent at the end of the third quarter of the previous financial year.

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Canara Bank Q3 Net profit rises 12%

Canara Bank announced on Monday that its standalone net profit for the third quarter, which ended on December 31, 2024, increased by 12.25 percent to Rs 4,104.20 crore. In the previous year's October–December quarter, the bank made a net profit of Rs 3,656.12 crore.

 According to a regulatory statement by Canara Bank, the bank's overall revenue climbed 11.7 percent to Rs 36,113.77 crore in the third quarter of the current fiscal year from Rs 32,333.93 crore in the same time last year. The bank's interest income increased from Rs 28,038.83 crore during the same time last fiscal year to Rs 30,311.61 crore during the quarter.

In comparison to the same quarter in FY24, when it was Rs 9,417 crore, the bank's Net Interest Income (NII) decreased 2.85% to Rs 9,148.57 crore. By the end of December 2023, the gross non-performing asset (NPA) had decreased to 3.34 percent of total advances from 4.39 percent. 

In a same vein, the net non-performing asset (NPA) decreased somewhat to 0.89 percent from 1.32 percent at the end of December 2023. Nevertheless, compared to Rs 1,028 crore in the same quarter of the prior fiscal year, provisions and contingencies for the third quarter of FY25 increased to Rs 2,156 crore. 

Compared to Rs 1,898.91 crore in the same period of the prior fiscal year, the provisions and contingencies for the third quarter of FY25 increased to Rs 2,398.25 crore.

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Bank Of India(BOI) Introduced Online Account Opening - Check Complete Process

The online Savings Account opening process is a simple and fairly easy one. Click here to begin your online bank account opening process, right from the comfort of your home. 

At Bank of India, you can also opt for the Video KYC (Know Your Customer) facility to avoid an in-person visit to the bank branch.

 To open a savings account online with Bank of India, follow these steps:

1. Visit the Bank of India Website: Go to the official website of Bank of India: https://www.bankofindia.co.in.

2. Navigate to the Online Account Opening Section: Look for the option to open a savings account. Then click on “Personal” section -> Accounts -> Saving Accounts ->Apply Now.

3.  Click here on direct link -  https://bankofindia.co.in/savings-account

4. Fill in the Application Form: OTP verification required through Mobile Number, Email Address and Registered Mobile number in Adhaar Card.                                                       Then Fill out the online form with personal details such as:

   • Name
   • Address
   • Date of Birth
   • Aadhar number (for identity verification)
   • PAN number (if applicable)
   • Contact information (email, phone number)

5. Upload Necessary Documents: You’ll likely need to upload scanned copies of:

   • PAN card 
   • Signature

6. Aadhaar-Based e-KYC: Some banks, including Bank of India, allow you to complete the KYC (Know Your Customer) process online using Aadhaar-based e-KYC. This is usually a faster process.

7. Verification and Account Creation: After submission, the bank will verify your details. Once verified, they will send you your account number and other details to your email or phone.

8. Set Up Internet Banking: After your account is opened, you can activate internet banking by following the instructions provided by the bank. This may require you to set a username, password, and security questions.

9. Deposit Initial Amount: Some accounts might require an initial deposit to activate the account. Make sure to check if there are any such requirements.

10. Receive Your Debit Card and Cheque Book (if applicable): Depending on the type of account you chose, the bank may send you a debit card and cheque book after completing the account setup.

If you need further assistance or have specific questions about the process, let me know!

Click here to show complete video of Online Account Opening Process in BOI

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