Public sector Indian Bank has earned a net profit of Rs 282.93 crore for the first quarter of the current fiscal against Rs 247.59 crore for the corresponding period of last fiscal.
The Bank Chairman MS Sundarajan, releasing the unaudited financial results for the quarter, told reporters that the profit recorded a growth of 14.27 per cent over the previous year.
The deposits, gross advances and total business also recorded a growth of 20.22 per cent, 47.36 per cent and 30.47 per cent respectively during the quarter.
The deposits stood at Rs 64,614 crore against Rs 53,747 crore for the corresponding period of the last fiscal, advances at Rs 48,092 crore against Rs 32,636 crore and total business was Rs 1,12,706 crore against Rs 86,383 crore, he said.
He said that the current global financial problem would not have any impact on the Bank's performence as it had lot of liqudity.