Indian Bank net falls by Rs.166 crore

In spite of a total income of Rs.1,717 crore, the Government-owned Indian Bank declared last financial year with Rs.166 crore fall in its expected net profit. 

The bank's total income in the last fiscal 2012-13 stood Rs.15,180 crore from Rs.13,463 crore posted in 2011-12.

Chairman and managing director T.M. Bhasin announced the annual results for 2012-13 : "The provisioning in absolute terms went up by Rs.400 crore to around Rs.704 crore."