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 |
|
|
| 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
- Capital Adequacy Ratio at 15.78%. CET-I & Tier I Capital at 12.31% & 12.88% respectively.
Asset Quality
- 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.
Digital
- 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.
Financial Inclusion
- 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 )
