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 | · Bank’s Global Business surpassed ₹12 lakh Crore | |
| Q2FY25 |
· Bank’s Global Business stood at ₹12.44 lakh Crore |
Branch Network and other touch points as on 30.09.2024
Domestic branches: 5856 (Including 3 DBUs) Overseas branches: 3 & IBU: 1
ATMs & BNAs: 5217 Business Correspondents: 12993
Bank’s Performance as on 30.09.2024
Assets and Liabilities
- Total Deposits increased by 8% YoY and reached to ₹6.93 lakh Cr in Sep’24 as against ₹6.41 lakh Cr in Sep’23. Current, Savings & CASA deposits grew by 8%, 4%, and 5% YoY respectively.
- Domestic CASA ratio stood at 40.47% as on 30thSep’24.
- Gross Advances increased by 12% YoY to ₹5.51 lakh Cr in Sep’24 from ₹4.92 lakh Cr in Sep’23.
- RAM (Retail, Agriculture & MSME) advances grew by 14% YoY to ₹325050 Cr in Sep’24 from ₹285891 Cr in Sep’23.
- RAM contribution to gross domestic advances stood at 63%. Retail, Agri & MSME advances grew by 15%, 16% and 8% YoY respectively. Home Loan (including mortgage) grew by 14% YoY in Sep’24.
- Priority sector advances as a percentage of ANBC stood above 44% at ₹188348 Cr in Sep’24 as against the regulatory requirement of 40%.
Capital Adequacy
- Capital Adequacy Ratio improved by 102 bps to 16.55%. CET-I improved by 144 bps YoY to 13.51%, Tier I Capital improved by 138 bps YoY to 14.01% in Sep’24.
Asset Quality
- GNPA decreased by 149 bps YoY to 3.48% in Sep’24 from 4.97% in Sep’23, NNPA reduced by 33 bps to 0.27% in Sep’24 from 0.60% in Sep’23.
- Provision Coverage Ratio (PCR, including TWO) improved by 196 bps YoY to 97.60% in Sep’24 from 95.64% in Sep’23.
Operating Profit and Net Profit
- Net Profit up by 36% YoY at ₹2707 Cr in Q2FY25 from ₹1988 Cr in Q2FY24.
- Operating Profit improved by 10% YoY to ₹4728 Cr in Q2FY25 from ₹4303 Cr in Q2FY24.
- Net Interest Income increased by 8% YoY to ₹6194 Cr in Sep’24 from ₹5741 Cr in Q2FY24.
- Fee based income grew by 11% YoY to ₹891 Cr in Q2FY25 from ₹805 Cr in Q2FY24.
- Return on Assets (RoA) up by 27 bps to 1.33% in Q2FY25 from 1.06% in Q2FY24.
Digital Banking
- Business of ₹79,059 Cr has been generated through Digital Channels in H1FY25. A total of 102 Digital Journeys, Utilities and Processes have been launched so far.
- Number of Mobile Banking users has grown by 20% year over year, reaching 1.81 Cr.
- UPI users and Net Banking Users have seen a 27% & 13% YoY increase respectively, reaching 1.95 Cr and 1.11 Cr respectively.
- The Credit Card users increased by 50% YoY to 2.65 lakh, while the total number of Point of Sale (PoS) terminals has increased by 56% YoY, reaching a total of 20,904.
Financial Inclusion
- During Q2 FY25, total disbursement under SHG is ₹4492 Cr.
- The outstanding under SHG increased to ₹20790 Cr from ₹16475 Cr registering YoY growth of 26%. Bank assisted 4.79 lakh SHG/JLGs with 56 lakh members under SHG/JLG scheme.
- Bank has achieved target under PMJDY, PMSBY and APY for the Half Year ended Sept’24.
- In Atal Pension Yojana (APY), during current FY 24-25 Bank added 3.16 lakhs fresh enrolments with Average Account Per Branch (AAPB) of 53 against proportionate target of 45 as of 30.09.2024.
( Last modified on Nov 07, 2024 at 04:11:48 PM )
