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Indian Bank to sell 1.13 lakh NPA Accounts in Q3 FY14

26 Nov 2013 Evaluate

Indian Bank is planning to sell 1.13 lakh NPA Accounts in October-December period. The 1.13 lakh NPA accounts total dues worth Rs 960 crore. The bank’s gross non-performing assets (NPAs) increased to 3.76% in the July-September quarter as against 2.06% in the same quarter previous year, while net NPAs too increased to 2.56%.

The bank reported a fall of 38.44% in its net profit at Rs 305.76 crore for the quarter ended September 30, 2013 as compared to Rs 496.68 crore for the same quarter in the previous year. However, total income of the bank increased by 8.06% at Rs 4078.24 crore for quarter under review as compared to Rs 3773.75 crore for the quarter ended September 30, 2012.

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