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. |
|
| 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. |
|
| 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 |
|
|
| 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 | |
| Q3FY25 |
· Bank’s Global Business stood at ₹12.61 lakh Crore |
Branch Network and other touch points as on 31.12.2024
Domestic branches: 5877 (Including 3 DBUs) Overseas branches: 3 & IBU: 1
ATMs & BNAs: 5224 Business Correspondents: 13292
Bank’s Performance as on 31.12.2024
Assets and Liabilities
- Total Deposits increased by 7% YoY and reached to ₹702282 Cr in Dec’24 as against ₹654154 Cr in Dec’23. Current, Savings & CASA deposits grew by 5%, 3.5%, and 4% YoY respectively.
- Domestic CASA ratio stood at 40% as on 31st Dec’24
- Gross Advances increased by 10% YoY to ₹559199 Cr in Dec’24 from ₹509800 Cr in Dec’23.
- RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to ₹334739 Cr in Dec’24 from ₹296845 Cr in Dec’23
- RAM contribution to gross domestic advances stood at 64.35%. Retail, Agri & MSME advances grew by 16%, 13.5% and 8% YoY respectively. Home Loan (including mortgage) grew by 12% YoY in Dec’24.
- Priority sector advances as a percentage of ANBC stood at 43.85% (₹192761 Cr) in Dec’24 as against the regulatory requirement of 40%.
Capital Adequacy
- Capital Adequacy Ratio improved by 34 bps to 15.92%. CET-I improved by 91 bps YoY to 13.27%, Tier I Capital improved by 89 bps YoY to 13.77% in Dec’24.
Asset Quality
- GNPA% decreased by 121 bps YoY to 3.26% in Dec’24 from 4.47% in Dec’23, NNPA% reduced by 32 bps to 0.21% in Dec’24 from 0.53% in Dec’23
- Provision Coverage Ratio (PCR, including TWO) improved by 219 bps YoY to 98.09% in Dec’24 from 95.90% in Dec’23.
Operating Profit and Net Profit (QE Dec’24 over Dec’23)
- Net Profit up by 35% YoY at ₹2852 Cr in Dec’24 from ₹2119 Cr in Dec’23
- Operating Profit improved by 16% YoY to ₹4749 Cr in Dec’24 from ₹4097 Cr in Dec’23
- Net Interest Income increased by 10% YoY to ₹6415 Cr in Dec’24 from ₹5815 Cr in Dec’23
- Fee based income grew by 9% YoY to ₹931 Cr in Dec’24 from ₹852 Cr in Dec’23
- Return on Assets (RoA) up by 28 bps to 1.39% in Dec’24 from 1.11% in Dec’23
Digital Banking
- Business of ₹1,18,981 Cr has been generated through Digital Channels in 9MFY25. A total of 117 Digital Journeys, Utilities and Processes have been launched so far.
- Number of Mobile Banking users has grown by 18% year over year, reaching 1.86 Cr.
- UPI users and Net Banking Users have seen a 24% & 9% YoY increase respectively, reaching 2.04 Cr and 1.12 Cr respectively.
- The Credit Card users increased by 52% YoY to 2.83 lakh. The transactions in Point of Sale (PoS) terminals has increased by 23% YoY, reaching to 35 lakh.
Financial Inclusion
- During Q3 FY25, total disbursement under SHG is ₹4207 Cr.
- The outstanding under SHG increased to ₹21536 Cr from ₹18293 Cr registering YoY growth of 18%. Bank assisted 5.09 lakh SHG/JLGs with 57 lakh members under SHG/JLG scheme.
- Bank has achieved target under PMJDY, PMSBY and APY for the Nine Months ended Dec’24.
- In Atal Pension Yojana (APY), during current FY 24-25 Bank added 4.70 lakhs fresh enrolments with Average Account Per Branch (AAPB) of 81 against proportionate target of 68 as of 31.12.2024.
Awards & Accolades
- The Bank received prestigious SKOCH Award for “Project WAVE”, an Indian Bank’s digital transformation journey and for “SMA Collection Proclivity Predictor”- a model built to predict the probability of default for Special Mention Accounts (SMA) and reduce risks by outlining a targeted collection journey.
- The Bank was honoured with the “Best Public Sector Bank” award in the organisational category and the MD & CEO of the Bank received “CEO of the Year” award at Tamil Nadu Leadership Awards 2024.
- The Vertical Head of CMS/SCF conferred with PT100 Leadership Award as an “Innovator & Disruptor in Asia Pacific” at the Payments Transformers conference in Singapore.
- In the 9th Banking Leadership Summit 2024 of Indian Investors Federation, the Bank received award for “Best Infrastructure & Ambience in UP”, “Best Marketing Strategies for business in the year 2024 in UP” and runner up for “Banker of the Year 2024”.
- In the IBA Annual Banking Technology Conference, 2024 – Special Mention under Large Bank segment, the Bank received award for “Best Digital Sales, Payments & Engagement”, “Best Tech Talent & Org., “Best AI and ML Adoption” and “Best FI”.
- During the 5th Annual BFSI Technology Excellence Awards 2024, the Bank was awarded “Best Cloud Initiative of the Year” – ET Edge recognition 2024 and “Best Team Project in Cloud Implementation (PSB)”.
Our Focus
Our focus is to deliver value-added, innovative and tailored solutions to the customers through omni-channel experience and with dedicated and skilled workforce. We will focus on achieving compliant, sustainable and inclusive growth, with a clear emphasis on customer service, CASA, MSME, and continued digital transformation.
We aim to become preferred choice of customer for catering to all financial & banking needs.
( Last modified on Feb 03, 2025 at 06:02:17 PM )
