Indian Bank trims share of bulk deposits to 4.35%

Indian Bank has pared its share of bulk deposits to 4.35% from 6.21% last year, moving away from dependence on corporate. The bank has reduced bulk deposits size-ably by focusing more on retail and MSME sectors.

Since the first quarter, the bank has witnessed healthy growth in CASA (current account, savings account) deposits and a reduction in bulk deposits. Out of Rs 825 crore non-performing asset (NPA)slippage, Rs 89 crore has come out of the restructured book, and Rs 93 crore from the existing NPL (non-performing loan) book.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 6.97% as compared to 4.65% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 4.48% in Q1FY17.