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532814

INDIANB

NOTLISTED

INE562A01011

INDIAN BANK

Banking Format

Equity

2022-04-01

2023-03-31

2022-11-03

2022-10-27

INR

Crores

Half yearly

Multi segment

2022-11-03

12:20:00

2022-11-03

13:10:00

true

Cash Flow Indirect

Not applicable

2022-07-01

2022-09-30

Unaudited

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Notes forming part of Standalone and Consolidated Reviewed Financial Results for the Quarter / Half year ended September 30, 2022: 1. The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on 03.11.2022. The results have been subjected to Limited Review by` the Statutory Central Auditors of the Bank in line with the guidelines issued by the Reserve Bank of India and as per the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 2. The above financial results have been arrived at after considering provision for non-performing assets, loan losses, restructured assets, standard assets, stressed sector accounts, income tax, deferred tax, depreciation on investments and fixed assets, standard derivative exposure, unhedged foreign currency exposure, employees’ benefits, other necessary provisions on the basis of prudential norms and directions issued by RBI and applicable Accounting Standards issued by the Institute of Chartered Accountants of India. Provision for employee benefits pertaining to Pension, Gratuity and Leave Encashment has been made on the basis of actuarial valuation. 3. The Bank has applied its significant accounting policies in the preparation of these financial results that are consistent with those followed in the annual financial statements for the year ended March 31, 2022. The above financial results have been drawn in accordance with Accounting Standard 25 - ‘Interim Financial Reporting’. 4. The consolidated financial results are prepared in accordance with Accounting Standard 21 – ‘Consolidated Financial Statements’, Accounting Standard 23 – ‘Accounting for Investments in Associates in Consolidated Financial Statements’ and Accounting Standard 27 – ‘Financial Reporting of Interests in Joint Ventures’ issued by The Institute of Chartered Accountants of India and guidelines issued by RBI. 5. The details of Subsidiaries, Associates and Joint Ventures of the Bank along with the percentage of shares held are: • Subsidiaries: Indbank Merchant Banking Services Ltd (64.84%) and Ind Bank Housing Ltd (51%), • Associates: Tamil Nadu Grama Bank (35%), Saptagiri Grameena Bank (35%), Puduvai Bharathiar Grama Bank (35%) and • Joint ventures: Universal Sompo General Insurance Company Ltd (28.52%) and ASREC (India) Ltd (38.26%). 6. In accordance with provision under SEBI (LODR) Regulations, 2015 (as amended), for the purpose of consolidated financial results of the quarter / half year ended September 30, 2022, minimum eighty percent of each of consolidated revenue, assets and profits have been subjected to review. 7. COVID-19 pandemic has adversely impacted the economic activity across the globe including the Indian economy for more than two years. However, the bank’s results, operations and asset quality have not been affected much because of the pandemic. Further bank has made necessary provisions for all COVID related restructuring of loans. The Bank is however keeping a close watch on developments on an ongoing basis and taking proactive measures continuously to maintain and improve asset quality. The bank, therefore, believes that there may not be any significant impact on Bank’s future financial results. 8. Other income includes profit/ loss on sale of assets (net), profit/ loss on sale of investments (net), profit/ loss on revaluation of investments (MTM) (net), earnings from foreign exchange and derivative transactions, income from sale of PSLC certificates, recoveries from accounts previously written off, dividend income etc. 9. In accordance with RBI Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated 01.07.2015 on ‘Basel III Capital Regulations’ and RBI Circular DBR.No.BP.BC.80 /21.06.201/2014-15 dated 31.03.2015 on ‘Prudential Guidelines on Capital Adequacy and Liquidity Standards - Amendments’, the banks are required to make Pillar 3 disclosures including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III capital requirements. The disclosures are available on the Bank’s website www.indianbank.in. These disclosures have not been subjected to Limited Review by Statutory Central Auditors. 10. Based on the available financial statements and the declaration from borrowers, the Bank has estimated the liability towards Unhedged Foreign Currency Exposure to their constituents in terms of RBI circular DBOD.No.BP.BC. 85/21.06.200/2013-14 dated 15.01.2014 on ‘Capital and provisioning requirements for exposures to entities with unhedged foreign currency exposure’, and the bank holds a provision of Rs. 15.10 Crores as on 30.09.2022. During the quarter ended September 30, 2022, incremental provision is not required. (During the quarter ended June 30, 2022, a provision of Rs. 11.22 Crores was made.) 11. Non-Performing Assets Provision Coverage ratio is 91.08 % as on 30.09.2022. (88.08% as on 30.06.2022). 12. In accordance with the RBI Letters DBR.No.BP.BC.18/21.04.048/2018-19 dated 01.01.2019, DOR.No.BP.BC.34/21.04.048/2019-20 dated 11.02.2020 and DOR.No. BP.BC/4/21.04.048/2020-21 dated 06.08.2020 on ‘Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances’, the details of MSME restructured accounts under the Scheme are as under: No. of Accounts Restructured Outstanding as on 30.09.2022 (Rs. in Crores) 40,309 2,175.76 13. In accordance with the RBI Circular DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on ‘Resolution Framework 2.0: Resolution of COVID – 19 related stress of Individuals and Small Business’, the number of borrower accounts where modifications were sanctioned and implemented and the aggregate exposure to such borrowers are as under: No. of Accounts Restructured Aggregate exposure as on 30.09.2022(Rs. in Crores) 602 95.68 14. As per RBI Circulars DBR.No. BP.15199/21.04.048/2016-17 dated 23.06.2017 and DBR No BP.1949/21.04.048/2017-18 dated 28.08.2017, for the accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC), the Bank is holding total provision of Rs. 5,638.19 Crores (100% of total outstanding amount less contingency fund) as on 30.09.2022. 15. Details of resolution plan implemented under the Resolution Framework for COVID-19 related Stress as per RBI circulars dated 06.08.2020 (Resolution Framework 1.0) and 05.05.2021 (Resolution Framework 2.0) as at 30.09.2022 are as under: Type of Exposure to Of (A), aggregate Of (A) Of (A) Exposure to accounts Borrower accounts classified Debt that amount amount classified as Standard as Standard slipped into written off paid by consequent to implementation consequent to NPA during during the the of resolution plan implementation the half-year the half-year borrowers – Position as at the end of resolution plan- (September (September during the of this half-year Position as at the 30, 2022) 30, 2022) half-year (September 30, 2022) end of th previous (September half-year 30, 2022) (March 31, 2022) (A) Personal Loans 7,831 347 0.00 362 7,122 Corporate Persons*4,680 371 0.00 223 4,086 Of which, MSMEs 3,068 141 0.00 -118 3,045 Others 5911 481 0.00 578 4,852 Total (1+2+3) 18,422 1,199 0.00 1,163 16,060 16. In accordance with RBI Circular DOR.STR.REC.51/21.04.048/2021-22 dated 24.09.2021 on ‘Master Direction – Reserve Bank of India (Transfer of loan exposures) Directions, 2021’, the details of loans transferred/ acquired during half year ended September 30, 2022 are given below: (a) Details of Loans not in default: (i) Acquired through assignment/pool buy-out are given below: Rs in Crores Particulars RBD RETAIL MSME Mode of Acquisition Direct Assignment Direct Assignment Direct Assignment Aggregate Principal 855.91 1546.57 743.43 outstanding of loans acquired (Rs. in Crores) Weighted Average 1.75 3.67 3.58 Residual Maturity (in years) Weighted Average Holding 0.25 0.28 0.33 Period by originator (in years) Retention of beneficial economic 5.00%- 10.00% 10.00% 10.00% interest by the originator (%) Tangible Security Coverage (% ) Not Applicable 132.67% 68.00% Rating Wise Distribution of A Rated Accounts: AA : 1489.01 AA (+/-) : 336.58 loans acquired by value 855.91 A : 57.56 A (+/-) : 406.85 (Rs. In Crores) (ii) Loans not in default transferred: NIL (b) Details of stressed loan transferred or acquired: (i) Transferred (NPA) during the period of 01.04.2022 to 30.09.2022: (Rs. in Crore except number of accounts) Particulars To ARCs To permitted transferee To other transferees No. of Accounts 3 Aggregate principal outstanding 85.89 loans transferred ( Rs in Crores) Weighted average residual tenor 0.00 NIL of the loans transferred Net book value of loans transferred 0.00 (at the time of transfer) Aggregate Consideration ( Rs in Crores) 46.93 Additional consideration realized in 0.00 respect of accounts transferred in earlier years The Bank has reversed the amount of Rs. 44.28 Crores of excess provision to the profit and loss account on account of sale of stressed loans. (ii) The bank has not transferred any Stressed loans (SMA) during the half year ended 30.09.2022 (iii) The bank has not acquired any Stressed loans (NPA & SMA) during the half year ended 30.09.2022 (iv) The distribution of Security Receipts (SRs) held by the Bank across the various categories of Recovery Ratings assigned to such SRs by the Credit Rating Agencies as on 30.09.2022 is given as under: (Rs. in Crores) Recovery Rating Book Value RR 1+ (Above 150%) 0.78 RR 1 (Above 100% up to 150%) 86.48 RR 2 (Above 75% up to 100%) 176.61 RR 3 (Above 50% up to 75%) 14.92 RR 4 (Above 25% up to 50%) 128.67 RR 5 (Up to 25%) 46.34 SRs with unrated (0%) 580.62 TOTAL 1,034.42* * The bank is holding 100 % provision 17. Impact of RBI Circular DBR.No.BP.BC.45/21.04.048/2018-19 dated 07.06.2019 on ‘Prudential Framework for resolution of stressed assets’ is as follows: - (Rs. in Crores) Amount of loans impacted Amount of loans to Amount of loans as Addl. provision required Provision by RBI circular (a) be classified as NPA on 30.09.2022 for loans covered under out of (d) (b) , out of (b) classified RBI circular already as NPA (c) (d) made by 30.09.2022 (e) 16,017.86 15,935.25 15,935.25 1,665.10 1,665.10 * * including provision of Rs. 780.80 Crores on Non Fund outstanding of the NPA account as on 30.09.2022. 18. As per RBI Circular DOR.AUT.REC.12/22.01.001/2022-23 dated 07.04.2022 on ‘Establishment of Digital Banking Units (DBUs)’, for the purpose of disclosure under Accounting Standard 17 – ‘Segment reporting’, ‘Digital Banking’ has been identified as a sub-segment under Retail Banking by Reserve Bank of India (RBI). However, Digital Banking Unit (DBU) has not commenced operations as on September 30, 2022. 19. The current tax expenses and deferred tax expenses are determined in accordance with the provisions of the Income Tax Act, 1961 and as per the Accounting Standard 22 – ‘Accounting for Taxes on Income’ and Accounting Standard 25 – ‘Interim Financial Reporting’. 20. Figures for the corresponding previous periods have been regrouped/ reclassified wherever considered necessary. The figures for the quarter ended September 30, 2022 are the balancing figures between reviewed figures in respect of the half year ended September 30, 2022 and the published year to date figures up to June 30, 2022. 21. The number of investors’ complaints received and disposed off during the period 01.07.2022 to 30.09.2022: Beginning : 02 Received : 59 Resolved : 61 Closing : NIL

2022-04-01

2022-09-30

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1. Segment Revenue and expenses have been apportioned on the basis of Segment assets, wherever direct allocation is not possible. 2. Figures of the previous period have been regrouped wherever considered necessary to conform to current period classification.

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