Chennai-based Indian Bank reported continued momentum in its business during the second quarter of FY27, with total business rising 14.2% year-on-year and 4.4% sequentially to ₹15.96 lakh crore. Advances grew 16.6% year-on-year and 5.5% quarter-on-quarter to ₹7.23 lakh crore, while total deposits increased 12.4% year-on-year and 3.4% sequentially to ₹8.73 lakh crore.
The bank’s current account, savings account ratio stood at 39.28%, compared with 39.73% in the previous quarter and 38.87% a year earlier. The latest business update comes against the backdrop of Indian Bank’s confidence in achieving its FY27 growth targets.
In the April–June quarter, the bank had reiterated its guidance of 9–11% deposit growth and 11–13% advances growth for the full financial year. Managing Director and CEO Binod Kumar had said the bank was seeing strong momentum across retail, micro, small and medium enterprise and corporate lending.
While Indian Bank was not revising its guidance at the time because of macroeconomic uncertainties, Kumar said the outlook could be reviewed after the second quarter if current trends continued. The bank did not expect any meaningful deterioration in asset quality and was targeting credit costs below 1%, while seeing no immediate need to raise capital.
In Q1 FY27, Indian Bank reported net interest income of ₹7,435 crore and profit after tax of ₹3,273 crore. Shares of Indian Bank closed at ₹793.90 on the NSE on Thursday, down ₹12, or 1.49%, ahead of the business update.