NSE Share Sale Lifted Indian Bank’s Treasury Income in Q2
A one-time Rs 1,388 crore gain helped lift Indian Bank’s non-interest income despite a mark-to-market loss on trading instruments.
Key takeaways
- Indian Bank recorded a Rs 1,388 crore gain from selling NSE shares.
- Non-interest income rose 50% quarter on quarter to Rs 3,953 crore.
- The bank reported a Rs 123 crore mark-to-market loss on held-for-trading instruments.
Indian Bank recorded a Rs 1,388 crore gain from selling shares in the National Stock Exchange, helping boost its treasury earnings in the second quarter.
The one-time gain contributed to a 50% quarter-on-quarter rise in non-interest income, which reached Rs 3,953 crore. Managing director Binod Kumar told The Economic Times that the NSE listing also helped generate mark-to-market gains.
Indian Bank held 0.34% of NSE before selling shares through the offer-for-sale window during the initial public offering. Its holding fell to 0.28% after the sale, according to people aware of the matter. The bank also reported a Rs 123 crore mark-to-market loss on instruments held for trading.
As of 08:04 UTC on Oct. 16, Indian Bank shares traded at Rs 860.25, up 3.02% since the previous close.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
