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: 5759 Overseas branches: 3
Bank’s Performance as on 30.09.2021
Assets and Liabilities
- Advances grew by 5% to ₹385730 Cr in Q2 FY22 from ₹365896 Cr a year ago, primarily driven by growth in RAM sector (13%) of which growth in Retail, Agriculture and MSME was 14%, 16% and 8% respectively.
- The Bank has focused on capital light growth in credit.
- Total Deposits grew by 10% YoY and 2% QoQ and stood at ₹551472 Cr in Sep’21 as against ₹501956 Cr in Sep’20.
- CASA Deposits grew by 8% YoY and by 2% QoQ and touched ₹225309 Cr in Q2 FY22. Share of CASA to Total Deposits stood at 41% in Q2 FY22. Current account deposits grew by 14% and Savings account deposits by 8% YoY in Q2 FY22.
- Total Business recorded YoY growth of 8% reaching the level of ₹937202Cr in Sep’21 as against ₹867852Cr in Sep’20. On a sequential QoQ basis it increased by 1%.
- Priority Sector portfolio increased to ₹141906 Cr in Sep’21 from ₹138244 Cr in same quarter of the previous year. Priority sector advances as a percentage of ANBC stood at 44% as against the regulatory requirement of 40%.
- RAM constitutes 60% of the total advances.
- For Q2FY22, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.88%, increased by 224 bps YoY. On a sequential quarter basis, it decreased by 4 bps from 15.92% in Q1 FY22 due to call up option exercised by Bank for Tier II Bond.
- Tier-I CRAR was at 12.34% in Q2 FY22 against 10.74% in Q2 FY21, up by 160bps YoY. On a sequential quarter basis, it increased by 12 bps from 12.22% in Q1 FY22.
- GNPA was at 9.56% of Gross Advances as on Sep’21 brought down by 33 bps YoY and 13 bps QoQ.
- The Net NPA ratio stood at 3.26% as on Sep’21 as against 2.96% in Sep’20. It was at 3.47% on 30th Jun’21.
- Fresh slippages were lesser at Rs.3952 Cr compared to Rs.4204 Cr in Q1. However, fresh slippage was high in Corporate loans and crop loans.
- Cash recovery was higher at Rs.831 Cr during Q2 and AUC recovery was higher at Rs.775 Cr.
Operating Profit and Net Profit
- The Bank’s Operating Profit has registered a growth of 11% YoY to ₹3276 Cr for Q2 FY22 as against ₹2942 Cr for Q2 FY21.
- The Bank’s Net Profit for the quarter grew by 164% YoY to ₹ 1089 Cr from ₹412 Cr in Q2FY21.
- For the Half year ended September 21 Operating Profit at Rs.6691 Cr grew by 17 % and Net Profit at Rs.2271 Cr recorded a growth of 191%.
- 10% increase in digital transactions mainly due to Mobile and UPI.
- Mobile rating improved from 2.7 to 4.2 in Play store.
- Introduced Video KYC for account opening.
- Introduced e Pass Book through Digi-locker of Government of India.
- New Fastag app introduced.
- Wealth Management tool Fisdom introduced in Mobile app.
- Government Services – Integrated Treasury collection introduced in Tamil Nadu and Odisha.
- e Rupee – UPI prepaid voucher (PPV) launched through mobile app.
- Since the inception of PMJDY on 16.08.2014, Bank has opened 181.61 lakh Basic Savings Bank Deposit Accounts.
- RuPay Cards have been issued to 107.89 lakh BSBD Account holders.
- BC network has presences in 24 states and 05 Union Territories.
- All the Bank Mitras are provided with inter operable Micro ATM/ Kiosk Aggregated Solution (KAS) devices as per the IBA standard (1.5.1)
- Market share in terms of account is at 4.18%, while in terms of balance outstanding at 4.61%.
( Last modified on Nov 19, 2021 at 02:11:32 PM )