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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 Cr.


                                                                                        Branch Network

                                           Domestic branches: 5721                  Overseas branches: 3


Bank’s Performance as on 30.06.2022


  • Total Business recorded a YoY growth of 9% reaching the level of ₹1009454 Cr in Jun’22 as against ₹929708 Cr in Jun’21.
  • Advances grew by 9% to ₹425203 Cr in Jun’22 over ₹389626 Cr a year ago, primarily driven by the growth in RAM sector (12%); of which Retail, Agriculture and MSME grew by 14%, 13% and 8% On a sequential quarterly basis advances grew by 2%.
  • Total Deposits grew by 8% YoY to ₹584251 Cr in Jun’22 as compared to ₹540082 Cr during the corresponding period a year ago.
  • CASA deposits recorded a YoY growth of 8% and stood at ₹237967 Cr in Jun’22. The share of domestic CASA to domestic deposits was 41.29% in Jun’22 as against 41.42% a year ago. CASA growth was driven by 14% YoY growth in Current Account deposits and 7% YoY growth in Savings account deposits.
  • Priority Sector portfolio increased to ₹159653 Cr in Jun’22 from ₹148806 Cr in Mar’22. Priority sector advances as a percentage of ANBC stood at 46.91% as against the regulatory requirement of 40%.


    Capital Adequacy

    • Capital Adequacy Ratio at 16.51%. CET-I improved by 96 bps YoY to 12.53%.  Tier I Capital improved by 95 bps YoY to 13.17%


    Asset Quality

    • GNPA decreased by 156 bps YoY to 8.13% from 9.69%, NNPA reduced by 135 bps to 2.12% from 3.47% in Jun’21
    • Provision Coverage Ratio (PCR) improved by 608 bps YoY to 88.08% from 82% in Jun’21


    Operating Profit and Net Profit

    • Net Profit up by 3% YoY at ₹1213 Cr in Jun’22 from ₹1182 Cr in Jun’21. On a QoQ sequential basis it increased by 23% from ₹984 Cr in Mar’22.
    • Operating profit for Jun’22 up by 4% YoY at ₹3564 Cr from ₹3416 Cr in Jun’21. On a QoQ sequential basis it increased by 30% ₹2738 Cr in Mar’22.


    Digital Initiatives

    • Implementation of EVC verification of accounts for Income Tax refund.
    • Cheggout service through Net Banking and Mobile Banking – Enabling customers for real time price comparison
    • Submission of Form 15G/15H through IndOASIS
    • Prediction Models developed to identify potential leads for PPF, FD, RD & SGB


    Financial Inclusion

    • Since the inception of PMJDY on 16.08.2014, Bank has opened 187.32 lakh Basic Savings Bank Deposit Accounts.
    • RuPay Cards issued to 109.96 lakh BSBD Account holders.
    • BC network has presences in 24 states and 05 union Territories.
    • Market share in terms of PMJDY account is 4.08%, balance outstanding is 4.48%.


    Corporate Social Responsibility during Q1 FY 23

    • Construction of Public Library in Vengikkal Panchayat, Tiruvannamalai.
    • UV-Vis Spectrophotometer to Mother Theresa PG and Research Institute of Health Science, Puducherry.
    • Stationeries to students of Govt School in Tribal area in Udaipur Dist.
    • RO & water cooler to Dr. B.R. Ambedkar University, Agra and Shri Ghagarburi Chandi Mata Mandir, Asansol.
    • Life saving medical equipments to ambulance run by Guru Gobind Singh Indraprastha University, Delhi.

    ( Last modified on Aug 05, 2022 at 05:08:23 PM )

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