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Bank’s Profile

Bank’s Profile

        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.
2019
·         ‘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.

 

Branch Network

  •               Domestic branches: 5809               Overseas branches: 3

 

                                               Bank’s Performance as on 30.06.2021

Assets and Liabilities

  • Domestic CASA deposits grew by 9% YoY while moderated by 3% QoQ and touched ₹220874 Cr in Q1 FY22. Share of CASA to Total Deposits was 41% in Q1 FY22 as against 42% a year ago. Current account deposits grew by 18% and in Savings account deposits by 8% YoY.
  • Advances grew by 6% to ₹389625 Cr in Q1FY22 over ₹366787 Cr a year ago, primarily driven by growth in RAM sector (13%) of which growth in Retail, Agriculture and MSME was 9%, 17% and 12% respectively. On QoQ sequential basis advances marginally declined by 0.2%.
  • Balance sheet size grew by 8% YoY and was ₹621669 Cr as on 30th Jun’21 as against ₹575766 Cr as on 30th Jun’20. On a sequential QoQ basis, it declined by 0.7%.
  • Total Business recorded YoY growth of 9% reaching the level of ₹929708 Cr in Jun’21 as against ₹855896 Cr in Jun’20. On a sequential QoQ basis it increased by 0.1%.
  • Total deposits grew by 10% YoY and 0.4% QoQ and stood at ₹540082 Cr as on Jun’21 as against ₹489109 Cr in Jun’20.
  • Priority Sector portfolio increased to ₹144680 Cr in Jun’21 from
    ₹138786 Cr in same quarter of the previous year. Priority sector advances as a percentage of ANBC stood at 43.78% as against the regulatory requirement of 40%.

 

Capital Adequacy

  • For Q1 FY22, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.92% with 247 bps YoY increase. On a sequential quarter basis, it increased by 21 bps from 15.71% in Q4 FY21.
  • Tier-I CRAR was at 12.22% in Jun’21 against 10.47%, up by 175 bps YoY. On a sequential quarter basis, it increased by 28 bps from 11.94%in Q4 FY21.

 

Asset Quality

  • GNPA was at 9.69% of Gross advances as on Jun’21 brought down by 121 bps YoY and 16 bps QoQ.
  • The Net NPA ratio declined to 3.47% at 30th Jun’21 from 3.76% in Jun’20. It stood at 3.37% at 31st Mar’21.

 

Operating Profit and Net Profit

  • The Bank’s Operating Profit has registered a growth of 26% YoY to ₹3472 Cr for Q1 FY22 as against ₹2753 Cr for Q1 FY21. On a QoQ sequential basis it increased by 36%.
  • The Bank’s Net Profit for the quarter grew by 220% YoY to ₹1182 Cr from ₹369 Cr in Q1FY21. On a QoQ sequential basis Net Profit declined by 31%.

 

Digital Initiatives

  • Enablement of Hot listing of Debit cards
  • Introduction of Online credit card application portal.
  • GST enablement in UPI as acquirer.
  • Introduction of PFMS EPA (Electronic Payment Advice) Payment through Corporate Net Banking
  • Enablement of Positive Pay System in IndOASIS to confirm cheque details.
  • Integration of Digital Passbook in Digilocker application.
  • Implementation of Loan Management System (LMS) to enable the Bank for end to end digital lending.

Financial Inclusion

  • Since the inception of PMJDY on 16.08.2014, Bank has opened 55 lakh Basic Savings Bank Deposit Accounts.
  • RuPay Cards have been issued to 14 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 4.21%, while in terms of balance outstanding at 4.53%.

 

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 Aug 06, 2021 at 05:08:11 PM )

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