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Bank’s Profile

Bank’s Profile


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.
·         ‘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. On April 1, 2020, the amalgamated entity came into effect.


Extensive Customer Reach: (Combined Entity)

Number of Branches                                     :   5996 (including 3 Overseas Branches)

Number of ATMs & BNAs                            :   5343

Number of Business Correspondents        :   9057

                                                 Bank’s Performance as on 30.09.2020

Assets and Liabilities

  • Total Balance sheet size grew by 7.75% (Y-o-Y) and was Rs.584880 crore as of Q2FY21 as against Rs.542807 crore as of Q2FY20. On a sequential basis it increased by 1.58%.
  • Total Business at Rs.867853 crore as of Q2FY21, recorded a Y-o-Y growth of 5% over Q2FY20. On a sequential basis it increased by 1%.
  • Total Deposits at Rs.501956 crore as of Q2FY21 recorded a Y-o-Y growth of 7%. On a sequential basis it increased by 3%.
  • Domestic CASA deposits recorded a Y-o-Y growth of 9% and share of CASA was 41% of total domestic deposits as on Q2FY21 as against 40% as on Q2FY20. Growth in CASA was primarily driven by a Y-o-Y increase of 12% in Current account deposits and Y-o-Y growth of 9% in Savings account deposits.
  • Advances at Rs.365896 crore as of Q2FY21 grew by 2% over Q2FY20 (Rs.359391 crore) driven primarily by growth in Retail (2%), Agriculture (7%), MSME (5%) and supplemented by Overseas advances (6%). Corporate Loans portfolio contracted by 2%.
  • Priority Sector portfolio increased to Rs.138244 crore as of Q2FY21 from Rs.133573 crore as of Q2FY20. Priority sector advances as a percentage of ANBC stood at 43.88% as against the regulatory requirement of 40%.

Capital Adequacy

  • The Bank’s total Capital Adequacy Ratio (CRAR) as per Basel III guidelines was healthy at 13.64% as at Q2FY21 vs 13.45% as of Q1as against regulatory requirement of 10.875%.
  • Tier-I CRAR was at 10.74% as on Q2FY21 Vs 10.30% as on Q1FY21 on sequential basis.

Asset Quality

  • Gross non-performing assets were at 9.89% of Gross advances as on Q2FY21 brought down by 275 bps from 12.64% as on Q2FY20. On a sequential basis it decreased by 101 bps.
  • Net non-performing assets came down to 2.96% as on Q2FY21 from 4.59% of Net advances as on Q2FY20 with a reduction of 163 bps. On a sequential basis it decreased by 80 bps.
  • Recovery of Bad debts improved by 38% during Q2FY21 over Q2FY20.

Operating Profit and Net Profit

  • The Bank’s Operating Profit has registered a robust growth of 40%, touching Rs. 2995 crore for the Q2 FY21 as against Rs. 2135 crore for Q2FY20. On a QoQ sequential basis it increased by 9%.
  • The Net Profit at Rs. 412crore for Q2 FY21 as against net loss of Rs.1755 crore for Q2 FY20 mainly on account of increase of Non-Interest income by 29%. On a QoQ sequential basis it increased by 12%.


Digital Initiatives

·         Web portal for Doorstep Banking.

·         PMJJBY and PMSBY web service for BCs.

·         On-line portal for applying COVID loan.

·         On-line OTS for combined entity.

·         NPA tracker through mobile app for combined entity.

·         Integrated GeM (Government e market place) challan collection.

Financial Inclusion

  • Since the inception of PMJDY on 16.08.2014, Bank has opened 174 lakh Basic Savings Bank Deposit Accounts.
  • RuPay Cards have been issued to 105 lakh BSBD Account holders.
  • All the SSAs allotted to the Bank are covered with either brick and mortar branch or with Bank Mitra.
  • All the Bank Mitras are provided with inter operable Micro ATM/ Kiosk Aggregated Solution (KAS) devices as per the IBA standard (1.5.1)
  • Average monthly transaction done per BC is more than 1224.
  • Aadhaar Enabled Payment System (AEPS) inter-operability facilities are enabled in all POS machines/KAS deployed in SSAs.

CSR as Brand Building Tool during Covid-19

  • Bank extended support to the affected community through various welfare measures across the country. Initiatives include
    • Distribution of PPE kits – masks, gloves, face shields, sanitisers, coveralls etc to frontline covid warriors
    • Contribution to Chief Minister’s Relief Fund in various states
    • Support to procure medical equipment in hospitals and
    • Distribution of food packets to the needy/stranded people.


( Last modified on Nov 27, 2020 at 03:11:00 PM )