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 : 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%.
- 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.
- 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%.
· 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.
- 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 )