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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
·         ‘Tamil Nadu Grama Bank’ commenced operations on 1st April 2019 after a successful amalgamation of Pandyan Grama Bank of Indian Overseas Bank with Bank’s Pallavan Grama Bank.

·         Government of India announced Amalgamation of Allahabad Bank – a bank with 155 years legacy into Indian Bank.

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.

 

Branch Network

  •               Domestic branches: 5759               Overseas branches: 3

                                               Bank’s Performance as on 30.09.2021

Assets and Liabilities

  • Advances grew by 5% to ₹385730 Cr in Q2 FY22 from ₹365896 Cr a year ago, primarily driven by growth in RAM sector (13%) of which growth in Retail, Agriculture and MSME was 14%, 16% and 8% respectively.
  • The Bank has focused on capital light growth in credit.
  • Total Deposits grew by 10% YoY and 2% QoQ and stood at ₹551472 Cr in Sep’21 as against ₹501956 Cr in Sep’20.
  • CASA Deposits grew by 8% YoY and by 2% QoQ and touched ₹225309 Cr in Q2 FY22. Share of CASA to Total Deposits stood at 41% in Q2 FY22. Current account deposits grew by 14% and Savings account deposits by 8% YoY in Q2 FY22.
  • Total Business recorded YoY growth of 8% reaching the level of ₹937202Cr in Sep’21 as against  ₹867852Cr in Sep’20. On a sequential QoQ basis it increased by 1%.
  • Priority Sector portfolio increased to ₹141906 Cr in Sep’21 from ₹138244 Cr in same quarter of the previous year. Priority sector advances as a percentage of ANBC stood at 44% as against the regulatory requirement of 40%.
  • RAM constitutes 60% of the total advances.

 

Capital Adequacy

  • For Q2FY22, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.88%, increased by 224 bps YoY. On a sequential quarter basis, it decreased by 4 bps from 15.92% in Q1 FY22 due to call up option exercised by Bank for Tier II Bond.
  • Tier-I CRAR was at 12.34% in Q2 FY22 against 10.74% in Q2 FY21, up by 160bps YoY. On a sequential quarter basis, it increased by 12 bps from 12.22% in Q1 FY22.

 

Asset Quality

  • GNPA was at 9.56% of Gross Advances as on Sep’21 brought down by 33 bps YoY and 13 bps QoQ.
  • The Net NPA ratio stood at 3.26% as on Sep’21 as against 2.96% in Sep’20. It was at 3.47% on 30th Jun’21.
  • Fresh slippages were lesser at Rs.3952 Cr compared to Rs.4204 Cr in Q1. However, fresh slippage was high in Corporate loans and crop loans.
  • Cash recovery was higher at Rs.831 Cr during Q2 and AUC recovery was higher at Rs.775 Cr.

 

Operating Profit and Net Profit

  • The Bank’s Operating Profit has registered a growth of 11% YoY to ₹3276 Cr for  Q2 FY22 as against ₹2942 Cr for Q2 FY21.
  • The Bank’s Net Profit for the quarter grew by 164% YoY to ₹ 1089 Cr from ₹412 Cr in Q2FY21.
  • For the Half year ended September 21 Operating Profit at Rs.6691 Cr grew by 17 % and Net Profit at Rs.2271 Cr recorded a growth of 191%.

 

Digital Initiatives

  • 10% increase in digital transactions mainly due to Mobile and UPI.
  • Mobile rating improved from 2.7 to 4.2 in Play store.
  • Introduced Video KYC for account opening.
  • Introduced e Pass Book through Digi-locker of Government of India.
  • New Fastag app introduced.
  • Wealth Management tool Fisdom introduced in Mobile app.
  • Government Services – Integrated Treasury collection introduced in Tamil Nadu and Odisha.
  • e Rupee – UPI prepaid voucher (PPV) launched through mobile app.

 

Financial Inclusion

  • Since the inception of PMJDY on 16.08.2014, Bank has opened 181.61 lakh Basic Savings Bank Deposit Accounts.
  • RuPay Cards have been issued to 107.89 lakh BSBD Account holders.
  • BC network has presences in 24 states and 05 Union Territories.
  • All the Bank Mitras are provided with inter operable Micro ATM/ Kiosk Aggregated Solution (KAS) devices as per the IBA standard (1.5.1)
  • Market share in terms of account is at 4.18%, while in terms of balance outstanding at 4.61%.

( Last modified on Nov 19, 2021 at 02:11:32 PM )

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