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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.

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 (Q3 FY24) · Global Business reached Rs 11.64 lakh Crores.



                                                      Branch Network and other touch points as on 31.12.2023

                               Domestic branches: 5835 (Including 3 DBUs) Overseas branches: 3 & IBU: 1


                                          ATMs & BNAs: 4899                    Business Correspondents: 10942


Bank’s Performance as on 31.12.2023

Assets and Liabilities

  • Total Deposits increased by 10% YoY and reached to ₹654154 Cr in Dec’23. CASA deposit grew by 8%, savings deposit grew by 7% and Current deposit by 12% YoY.
  • Domestic CASA ratio stood at 41.14%
  • Gross Advances increased by 13% YoY to ₹509800 Cr in Dec’23 from ₹451658 Cr in Dec’22
  • RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to ₹296845 Cr in Dec’23 from ₹262811 Cr in Dec’22
  • RAM contribution to gross domestic advances is 62.58%. Retail, Agri & MSME advances grew by 14%, 16% and 7% YoY respectively. Home Loan (Including mortgage) grew by 12% YoY, Auto Loan by 46% YoY and Personal Loan by 30% YoY
  • Priority Sector portfolio stood at ₹171480 Cr in Dec’23. Priority sector advances as a percentage of ANBC stood at 43.71% as against the regulatory requirement of 40%.


    Capital Adequacy

    • Capital Adequacy Ratio stood at 15.58%. CET-I improved by 39 bps YoY to 12.36%
      Tier I Capital improved by 30 bps YoY to 12.88%.


    Asset Quality

    • GNPA decreased by 206 bps YoY to 4.47% in Dec’23 from 6.53%, NNPA reduced by 47 bps to 0.53% from 1.0% in Dec’22
    • Provision Coverage Ratio (PCR, including TWO) improved by 231 bps YoY to 95.90%


    Operating Profit and Net Profit

    • Net Profit up by 52% YoY at ₹2119 Cr in Dec’23 from ₹1396 Cr in Dec’22
    • Profit Before Tax up by 78% YoY at ₹2747 Cr in Dec’23 from ₹1546 Cr in Dec’22
    • Operating Profit improved to ₹4097 Cr in Dec’23 from ₹4061 Cr in Dec’22
    • Net Interest Income increased by 6% YoY to ₹5815 Cr in Dec’23 from ₹5499 Cr in Dec’22


    • Business through Digital Channels crossed ₹52,000 Cr. So far 78 Digital Journeys have been launched. More Journeys will be launched in the months to come.
    • Mobile Banking users increased by 47% YoY and reached to 1.59 Cr.
    • UPI users and Net Banking Users both, increased by 38% YoY each, and reached to 1.64 Cr and 1.03 Cr respectively.
    • Number of UPI QR merchants on-boarded surged by 311% YoY and reached to 36 lakh, and number of PoS increased by 47% YoY to 21725.
    • ‘Online Tax Portal for Village Panchayats’- launched for collection of taxes in all Village Panchayats in Tamil Nadu.

    Financial Inclusion

    • Bank has opened 219 lakh PMJDY Accounts on standalone basis with balance outstanding at ₹10245 Cr as on 31.12.2023. YoY Growth of 10% registered in PMJDY accounts as on 31.12.2023
    • Bank’s BC network has coverage in 23 states and 5 Union Territories

      ( Last modified on Jan 30, 2024 at 12:01:06 PM )

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