Bank’s Profile
Bank’s Profile
A BRIEF HISTORY OF THE BANK SINCE ITS INCORPORATION
| 1907 | · Bank was incorporated on March 5, 1907 with an Authorized Capital of Rs 20 lakhs and commenced its business on August 15, 1907.
· In the year 1907, the Indian Bank Ltd. had the tree ‘Banyan’ as a part of its emblem denoting an all-around progress, growth (far and wide) and an ever-increasing prosperity. |
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| 1921 | · Bank’s capital was raised to Rs 60 lakhs from Rs 20 lakhs. | |
| 1932 | · Bank celebrated its Silver Jubilee.
· Bank opened its first overseas operations in Colombo. |
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| 1941 | · Singapore branch was opened. | |
| 1957 | · Bank celebrated its Golden Jubilee. | |
| 1967 | · Bank celebrated its Diamond Jubilee. | |
| 1978 | · Bank’s logo comprising of three circling arrows arranged around a central point was approved. | |
| 1982 | · Bank celebrated its Platinum Jubilee. | |
| 1990 | · Bank of Thanjavur Ltd. (BoT) with 157 branches was amalgamated with the Bank. | |
| 2006 | · The centenary year celebration was inaugurated by His Excellency the President of India Shri. A P J Abdul Kalam on 4th September. | |
| 2007 | · Bank went in for Initial Public Offer in February 2007. | |
| 2008 | · Achieved 100 per cent Core Banking Solutions (CBS) compliant. | |
| 2019 |
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| 2020 | · Bank commenced its operation as an amalgamated entity from 1st April 2020. The integration of CBS systems of both the Banks was completed on 14.02.2021. | |
| 2022 | · Bank’s Global Business surpassed Rs 10 lakh Crores. | |
| 2023 | · Bank’s Global Business was at Rs 10.95 lakh Crores. | |
| 2024 | · Global Business surpassed Rs 12 lakh Crores. |
Branch Network and other touch points as on 31.03.2024
Domestic branches: 5847 (Including 3 DBUs) Overseas branches: 3 & IBU: 1
ATMs & BNAs: 4937 Business Correspondents: 11297
Bank’s Performance as on 31.03.2024
Assets and Liabilities
- Total Deposits increased by 11% YoY and reached to ₹6.88 lakh Cr in Mar’24. CASA deposit grew by 8%, Savings deposit grew by 7% and Current deposit by 9% YoY.
- Domestic CASA ratio stood at 42.31% as on 31st Mar’24.
- Gross Advances increased by 13% YoY to ₹5.34 lakh Cr in Mar’24 from ₹4.74 lakh Cr in Mar’23.
- RAM (Retail, Agriculture & MSME) advances grew by 14% YoY to ₹309918 Cr in Mar’24 from ₹272679 Cr in Mar’23.
- RAM contribution to gross domestic advances is 62.21%. Retail, Agri & MSME advances grew by 15%, 19% and 6% YoY respectively. Home Loan (Including mortgage) grew by 11% YoY, Auto Loan by 49% YoY and Personal Loan by 10% YoY
- Priority sector advances as a percentage of ANBC stood at 43.82% at ₹178527 Cr in Mar’24 as against the regulatory requirement of 40%.
Capital Adequacy
- Capital Adequacy Ratio stood at 16.44%. CET-I improved by 63 bps YoY to 13.52% while
Tier I Capital improved by 55 bps YoY to 14.03%.
Asset Quality
- GNPA decreased by 200 bps YoY to 3.95% in Mar’24 from 5.95%, NNPA reduced by 47 bps to 0.43% from 0.90% in Mar’23
- Provision Coverage Ratio (PCR, including TWO) improved by 252 bps YoY to 96.34% in Mar’24 from 93.82% in Mar’23
Operating Profit and Net Profit
- Net Profit up by 53% YoY to ₹8063 Cr in FY24 from ₹5282 Cr in FY23
- Profit Before Tax up by 85% YoY at ₹10951 Cr in FY24 from ₹5915 Cr in FY23
- Operating Profit increased by 10% at ₹16840 Cr in FY24 from ₹15271 Cr in FY23
- Net Interest Income grew by 15% to ₹23274 Cr in FY24 from ₹20225 Cr in FY23
Digital
- Business through Digital Channels has surpassed ₹81,000 Cr. A total of 78 Digital Journeys, Utilities and Processes have been launched so far.
- The number of Mobile Banking users has grown by 45% year over year, reaching 1.67 Cr.
- Both UPI users and Net Banking Users have seen a 37% YoY increase, reaching 1.75 Cr and 1.06 Cr respectively.
- The count of UPI QR merchants on-boarded has risen by 43% YoY, while the total number of Point of Sale (PoS) terminals has increased by 58% YoY, reaching a total of 21,580.
Financial Inclusion
- During FY 2023-24, upto 31.03.2024 total disbursement under SHG is ₹15689 Cr to 3.16 Lakh SHG/JLGs (42.23 lakh members).
- The outstanding under SHG increased to ₹19243 Cr from ₹14015 Cr registering YoY growth of 37%. Bank assisted 4.21 lakh SHG/JLGs with 55.25 lakh members under SHG/JLG scheme.
( Last modified on May 07, 2024 at 10:05:56 AM )
