Indian Bank reports a Rs 1,388 crore gain from sale of NSE shares

Kolkata: The public listing of the National Stock Exchange has provided a Rs 1388 crore bonanza to Indian Bank, helping it to grow treasury earnings in the second quarter offsetting the adverse impact of higher bond yields.

The one-time gain led to a 50% quarter-on-quarter surge in the bank's non-interest income -- which includes income from treasury operations -- at Rs 3953 crore while other state-owned lenders saw a dip in this parameter.

"The NSE listing also helped mark-to-market gains," Indian Bank managing director Binod Kumar told ET.


The Chennai-headquartered lender owned 0.34% in NSE before the divestment using the offer for sale window during the initial public offer. The holding came down to 0.28% post this exercise, people aware said.

The bank meanwhile suffered Rs 123 crore mark-to-market loss from instruments kept under Held for Trading bucket.

Canara Bank reported a 14% quarter-on-quarter dip in other income at Rs 5772 crore owing to 53% fall in treasury earnings for the same period at Rs 499 crore. Uco Bank's other income saw a 47.4% quarterly dip at Rs 888 crore.