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.|
|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.|
- Domestic branches: 6004 Overseas branches: 3
Bank’s Performance as on 31.03.2021
Assets and Liabilities
- Balance sheet size grew by 10% (Y-o-Y) and was Rs.626005 Crore as on 31st Mar’21 as against Rs.568054 Crore as on 31st Mar’20. On a sequential quarter basis it increased by 3 %.
- Total Business recorded a Y-o-Y growth of 8 % reaching the level of Rs.928388 Crore in Mar’21 as against Rs. 857499 crore in Mar’20. On a sequential quarter basis it increased by 2 %.
- Total Deposits grew by 10% YoY at Rs.538071 Crore in Mar’21 as compared to Rs.488835 Crore in the previous year. On a sequential quarter basis it increased by 3%.
- CASA deposits recorded a Y-o-Y growth of 14 % and share of CASA to total deposits was 42% in Mar’21 as against 41% a year ago. Growth in CASA was primarily driven by a Y-o-Y increase of 32% in Current account deposits and 12% in Savings account deposits.
- Advances grew by 6% to Rs.390317 Crore in Mar’21 over Rs.368664 Crore a year ago, driven primarily by growth in RAM sector (12%), Retail (6%), Agriculture (14%), MSME (15%).
- Priority Sector portfolio increased to Rs.130274 Crore in Mar’21 from Rs.127542 Crore in the previous year. Priority sector advances as a percentage of ANBC stood at 42.08% as against the regulatory requirement of 40%.
- For FY 21, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.71% with 244 bps YoY increase. On a sequential quarter basis, it increased by 165 bps from 14.06% in Q3FY21.
- Tier-I CRAR was at 11.94% in Mar’21 against 10.40%, up by 154 bps YoY. On a sequential quarter basis, it increased by 76 bps from 11.18% in Q3FY21.
- GNPA was at 9.85% of Gross advances as on Mar’21 brought down by 154 bps YoY from 11.39% as on Mar’20.
- NNPA came down to 3.37% in Mar’21 from 4.19% as on Mar’20 with a reduction of 82 bps YoY.
Operating Profit and Net Profit
- The Bank’s Operating Profit has registered a growth of 6%, Rs.2548 Crore for Q4 FY21 as against Rs.2401 Crore for Q4FY20. On a QoQ sequential basis it decreased by 18%. For FY21, it grew by 19% to Rs.11396 crore.
- The Net Profit is at Rs.1709 Crore for Q4FY21 as against Net Loss of Rs.1641 Crore for Q4FY20. On a QoQ sequential basis it increased by 232%. For FY21, Net Profit is Rs.3005 Crore as against loss of Rs.4643 crore for FY 20.
- Enablement of MasterCard NFC (Tap & Go) Cards
- Introduction of International RuPay Platinum Cards
- RTGS 24*7 through Internet Banking
- Implementation of Positive Pay System
- Additional feature in IndOASIS- Subscription to Mutual Funds (Fisdom), Insurance, e-NPS
- New Value added Services –NFC/NCMC acceptance enabled in PoS terminals.
- EFRMS Solution implemented for non real time fraud detection for monitoring and to reduce overall losses through quicker detection of potential fraud.
- FasTag: Offline FasTag issuance / recharges through branch module
- Integration with NeSL for Digital Document Execution
- Implementation of Power BI & Data Analytics models to support Decision Making
- 100% Digitalisation in Digital District of Karaikal under GOI Scheme
- Since the inception of PMJDY on 16.08.2014, Bank has opened 179.26 lakh Basic Savings Bank Deposit Accounts.
- RuPay Cards have been issued to 105.98 lakh BSBD Account holders.
- Bank was first amongst PSBs to meet the deadline to have Banking access either through Brick & Mortar Branches or through Business Correspondents in uncovered villages, LWE areas, Tea Gardens / North-East areas allotted by DFS/ SLBCs of various states.
- 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 successful number of Financial Transaction done by BCs per month has reached 103.51 lakhs.
- Market share of Bank in PMJDY Ecospace increased (4.24% in number of accounts and 4.65% as deposit balance)
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 Jun 02, 2021 at 05:06:12 PM )