The town-headquartered financial institution had registered its first ever highest internet revenue of Rs 1,051 crore within the January-March 2025 quarter.
“Precisely. 100 per cent certain. We’re very assured of sustaining this and rising it from right here. In the event you see our internet income determine during the last two years, quarter on quarter, it’s rising. The graph has been very constant,” the financial institution’s Managing Director and CEO Ajay Kumar Srivastava stated.
He was responding to a question from PTI on whether or not the financial institution was assured of sustaining the expansion within the internet revenue throughout this monetary yr.
He stated, “within the fourth quarter of the final monetary yr (January-March 2025), the financial institution reported its highest ever internet revenue of Rs 1,051 crore and in June 2025 quarter, speculated to be a lean quarter, from that Rs 1,051 crore we’ve grown to over Rs 1,111 crore internet revenue, one other highest ever internet revenue for the financial institution.”
“We’re very assured of sustaining it and rising additional,” he added.For the April-June 2025 quarter, Indian Abroad Financial institution reported a 76 per cent bounce in internet revenue to Rs 1,111 crore as in comparison with Rs 633 crore registered in the identical quarter of final monetary yr.To a question on the outlook for the yr, Srivastava stated he anticipated the financial institution to develop at 12 per cent on general enterprise section in the course of the present monetary yr, much like final yr.
“Final yr, it was round 12 per cent enterprise development. That could be very snug to take care of. That’s the minimal additionally. Past that (12 per cent) additionally we expect to develop (on this monetary yr),” he stated.
On the goal restoration for this yr, the Managing Director stated, “To start with of the monetary yr we gave a steerage of Rs 4,500 crore as restoration for the complete monetary yr.”
“Out of that in Q1, we’ve performed Rs 851 crore and remaining we’re very very comfortably doing it. In truth, when you see our restoration numbers of final two years, we’ve made restoration of round Rs 4,500 to Rs 5,000 crore yearly,” he stated.
Requested how a lot credit score development was anticipated throughout this monetary yr, he stated it’s anticipated to be round 12-13 per cent in the course of the present monetary yr.
To a different question whether or not the financial institution has deliberate to open a department in Reward Metropolis, Gandhi Nagar, he replied that the financial institution is within the technique of acquiring approvals to open a department in that metropolis.
“So, in Reward Metropolis (Gandhi Nagar, Gujarat), we shouldn’t have a department as such. We’re within the technique of getting approvals and relying on the approvals, we might be opening a department. It’s in our precedence and we wish to have one department as early as potential,” he stated.
On the efficiency of gold mortgage portfolio, he stated it has been a constant portfolio for the financial institution and yearly, the financial institution has been witnessing a 37-38 per cent development underneath this section.
“This yr once more, we might be rising (round 37-38 per cent). That’s yet another necessary exercise within the state of Tamil Nadu,” he famous.
In accordance with Srivastava, the financial institution has deliberate to boost Rs 4,000 crore in the course of the present monetary yr, thereby, the Authorities of India shareholding within the financial institution is anticipated to return right down to 90 per cent from the present 94 per cent.
“This fundraiser we anticipate to occur in Q3 of this monetary yr. It could occur in a single or two tranches. After this (fund elevate,) the federal government of India shareholding will come right down to 90 per cent,” he remarked.