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.|
|2022||· Bank’s Global Business surpassed Rs 10 lakh Crores.|
|2023||· Bank’s Global Business was at Rs 10.95 lakh Crores.|
|2024 (Q1 FY24)||· Global Business crossed Rs 11 lakh Crores.|
Branch Network and other touch points as on 30.06.2023
Domestic branches: 5798 (Including 3 DBUs) Overseas branches: 3 & IBU: 1
ATMs & BNAs: 4804 Business Correspondents: 10805
Bank’s Performance as on 30.06.2023
Assets and Liabilities
- Total Business recorded a YoY growth of 9% reaching the level of ₹1100943 Crore in Jun’23 from ₹1009454 Crore in Jun’22.
- Advances increased by 13% to ₹479404 Crore in Jun’23 from ₹425203 Crore a year ago. Growth in RAM sector is recorded at 13% YoY of which Retail & Agriculture grew by 16% each and MSME advances grew by 7% YoY
- Deposits grew by 6% YoY to ₹621539 Crore in Jun’23 as compared to ₹584251 Crore during the corresponding period a year ago.
- CASA deposits recorded a YoY growth of 5% and stood at ₹250242 Crore in Jun’23. The share of CASA to total deposits stood at 40%.
- Priority Sector portfolio stood at ₹160863 Crore in Jun’23. Priority sector advances as a percentage of ANBC stood at 44% as against the regulatory requirement of 40%.
- Capital Adequacy Ratio at 15.78%. CET-I & Tier I Capital at 12.31% & 12.88% respectively.
- GNPA decreased by 266 bps YoY to 5.47% in Jun’23 from 8.13% in Jun’22, NNPA reduced by 142 bps YoY to 0.70% from 2.12% in Jun’22.
- Provision Coverage Ratio (PCR, including TWO) improved by 702 bps YoY to 95.10% from 88.08% in Jun’22.
Operating Profit and Net Profit
- Net Profit up by 41% YoY to ₹1709 Crore in Jun’23 from ₹1213 Crore in Jun’22.
- Operating Profit increased by 16% YoY at ₹4135 Crore in Jun’23 from ₹3564 Crore in Jun’22.
- Net Interest Income grew by 26% to ₹5703 Crore in Jun’23 from ₹4534 Crore in Jun’22.
- Transactions through ATM, BNA & Digital channels improved by 7% YoY in Q1FY24.
- Mobile Banking users increased by 36% YoY.
- UPI users and transactions increased by 33% YoY and 85% YoY respectively.
- During Q1FY24, the Bank has launched various Digital Journeys under its Digital Transformation Programme.
- Bank has opened 209.39 lakh PMJDY Accounts on standalone basis with balance outstanding at ₹9343 Crore as on 30.06.2023. YoY Growth of 11.78% registered in PMJDY accounts as on 30.06.2023.
- Bank’s BC network has coverage in 24 states and 05 union Territories.
Corporate Social Responsibility
- 36 RSETI Centres (INDSETIs) trained 6386 candidates through 219 programmes in Q1 FY24
- 42 Financial Literacy Centres (FLCs) conducted 458 camps in Q1 FY24 covering 21077 participants
- Conducted various CSR activities during Anchor Month (April 2023) under Azadi Ka Amrit Mahotsav campaign
- Sponsored smart classrooms to IBEA School, Kurichi, Pattukkottai, Tamil Nadu
- Provided 250 sewing machines to women from under-privileged sections of the society through Bhartiya Sarv Samaj Mahasangh, Delhi
- Provided one ambulance to Childcare Institution of Haryana State Council for Child Welfare at Balkunj, Chhachhrauli, Haryana
- Sponsored provisions and utility items to Hope Public Charitable Trust, Egmore, Chennai and Annai Anbalayaa Trust, Royapettah, Chennai under focus areas of “Inclusive Growth and Gender Equality and Women Empowerment”.
( Last modified on Aug 23, 2023 at 12:08:55 PM )