Indian Bank records Q3 net at ~3 billion

Indian Bank on Monday reported a decline of 18.8 per cent in net profit at ~3.03 billion for the third quarter ending December31,2017, dueto higher operating expenses and provisioning. The kolka ta headquartered bank had registered net profit sat ~3.7 billion in the year-ago period. Managing Director and CEO, Ki sh or K ha rat said the decline in the net profits was on account of mark-to-market depreciation on investments of about~4.1billion, due torise in bond yield sand other provisions.