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Bank’s Profile

Bank’s Profile


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.
· 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.
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.



    • 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 )

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