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.|
Extensive Customer Reach: (Combined Entity)
|Number of Branches : 6006 (including 3 Overseas Branches)
Number of ATMs & BNAs : 5428
Number of Business Correspondents : 9095
Bank’s Performance as on 31.12.2020
Assets and Liabilities
- Balance sheet size grew by 11% (Y-o-Y) and was Rs.608390 Crore as of Q3FY21 as against Rs.549816 Crore as of Q3FY20. On a sequential basis it increased by 4 %.
- Total Business recorded a Y-o-Y growth of 8 % reaching the level of Rs.910894 Crore in Q3FY21 as against Rs. 843813 crore in Q3FY20. On a sequential basis it increased by 5 %.
- Total Deposits grew by 8% YoY at Rs.521248 Crore in Q3FY21 as compared to Rs. 481277 Crore in the previous year. On a sequential basis it increased by 4%.
- CASA deposits recorded a Y-o-Y growth of 11 % and share of CASA was 41% of total deposits as on Q3FY21 as against 40% a year ago. Growth in CASA was primarily driven by a Y-o-Y increase of 23% in Current account deposits and 9% in Savings account deposits.
- Advances at Rs.389646 Crore as of Q3FY21 grew by 7% over Q3FY20 (Rs.362536 Crore) driven primarily by growth in RAM sector (12%), Retail (13%), Agriculture (11%), MSME (11%). Corporate (including overseas) grew by 3%.
- Priority Sector portfolio increased to Rs.134015 Crore as of Q3FY21 from Rs. 130545 Crore as of Q3FY20. Priority sector advances as a percentage of ANBC stood at 42.35% as against the regulatory requirement of 40%.
- The Bank’s total Capital Adequacy Ratio (CRAR) improved by 42 bps to 14.06% as at Q3FY21 in comparison to 13.64 % as of Q2FY21 as against regulatory requirement of 10.875%.
- Tier-I CRAR was at 11.18% as on Q3FY21 Vs 10.74% as on Q2FY21 on sequential basis.
- GNPA were at 9.04% of Gross advances as on Q3FY21 brought down by 365 bps from 12.69% as on Q3FY20. On a sequential basis it decreased by 85 bps.
- NNPA came down to 2.35% as on Q3FY21 from 4.22% as on Q3FY20 with a reduction of 187 bps. On a sequential basis it decreased by 61bps.
Operating Profit and Net Profit
- The Bank’s Operating Profit has registered a growth of 10%, Rs.3099 Crorefor Q3 FY21 as against Rs.2816 Crore for Q3FY20. On a QoQ sequential basis it increased by 3%.
- The Net Profit is at Rs.514 Crore for Q3FY21 as against Net Loss of Rs.1739 Crore for Q3FY20. On a QoQ sequential basis it increased by 25%.
- Enabled acceptance of NCMC cards in contactless mode in retail POS machines.
- RTGS 24*7 through Internet Banking.
- Implementation of Positive Pay System in Internet Banking.
- Additional features enabled in All in one Mobile App (IndOASIS).
- Offline FasTag issuance/ renewal through branch module.
- Implementation of Terminal Security Solution in ATMs & Cash Recyclers.
- EFRMS Solution implemented for non real time fraud detection for monitoring and to reduce overall losses through quicker detection of potential fraud.
- Digital Apnayen campaign (launched by Govt. of India and conducted from 15.08.20 to 31.12.20): Achieved 100% for on-boarding of at least 100 additional customers by every branch on digital payment mode.
- Since the inception of PMJDY on 16.08.2014, Bank has opened 177 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)
- Monthly transaction done by BC per month is 90.70 (No in Lakhs).
- 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 Feb 08, 2021 at 11:02:00 AM )