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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. On April 1, 2020, the amalgamated entity came into effect.

 

 Extensive Customer Reach: (Combined Entity)

Number of Branches                                     :   6006 (including 3 Overseas Branches)

Number of ATMs & BNAs                            :   5428

Number of Business Correspondents        :   9095

                                                       Bank’s Performance as on 31.12.2020

Assets and Liabilities

  • Balance sheet size grew by 11% (Y-o-Y) and was Rs.608390 Crore as of Q3FY21 as against Rs.549816 Crore as of Q3FY20. On a sequential basis it increased by  4 %.
  • Total Business recorded a Y-o-Y growth of 8 % reaching the level of Rs.910894 Crore in Q3FY21 as against Rs. 843813 crore in Q3FY20. On a sequential basis it increased by 5 %.
  • Total Deposits  grew by 8% YoY at Rs.521248 Crore in Q3FY21 as compared to  Rs. 481277 Crore in the previous year. On a sequential basis it increased by 4%.
  • CASA deposits recorded a Y-o-Y growth of 11 % and share of CASA was 41% of total deposits as on Q3FY21 as against 40% a year ago. Growth in CASA was primarily driven by a Y-o-Y increase of 23% in Current account deposits and 9% in Savings account deposits.
  • Advances at Rs.389646 Crore as of Q3FY21 grew by 7% over Q3FY20 (Rs.362536 Crore) driven primarily by growth in RAM sector (12%), Retail (13%), Agriculture (11%), MSME (11%). Corporate (including overseas) grew by 3%.
  • Priority Sector portfolio increased to Rs.134015 Crore as of Q3FY21 from Rs. 130545 Crore as of Q3FY20. Priority sector advances as a percentage of ANBC stood at 42.35% as against the regulatory requirement of 40%.

 

Capital Adequacy

  • The Bank’s total Capital Adequacy Ratio (CRAR) improved by 42 bps to 14.06% as at Q3FY21 in comparison to 13.64 % as of Q2FY21 as against regulatory requirement of 10.875%.
  • Tier-I CRAR was at 11.18% as on Q3FY21 Vs 10.74% as on Q2FY21 on sequential basis.

 

Asset Quality

  • GNPA were at 9.04% of Gross advances as on Q3FY21 brought down by 365 bps from 12.69% as on Q3FY20. On a sequential basis it decreased by 85 bps.
  • NNPA came down to 2.35% as on Q3FY21 from 4.22% as on Q3FY20 with a reduction of 187 bps. On a sequential basis it decreased by 61bps.

 

Operating Profit and Net Profit

  • The Bank’s Operating Profit has registered a growth of 10%, Rs.3099 Crorefor Q3 FY21 as against Rs.2816 Crore for Q3FY20. On a QoQ sequential basis it increased by 3%.
  • The Net Profit is at Rs.514 Crore for Q3FY21 as against Net Loss of Rs.1739 Crore for Q3FY20. On a QoQ sequential basis it increased by 25%.

 

Digital Initiatives

  • Enabled acceptance of NCMC cards in contactless mode in retail POS machines.
  • RTGS 24*7 through Internet Banking.
  • Implementation of Positive Pay System in Internet Banking.
  • Additional features enabled in All in one Mobile App (IndOASIS).
  • Offline FasTag issuance/ renewal through branch module.
  • Implementation of Terminal Security Solution in ATMs & Cash Recyclers.
  • EFRMS Solution implemented for non real time fraud detection for monitoring and to reduce overall losses through quicker detection of potential fraud.
  • Digital Apnayen campaign (launched by Govt. of India and conducted from 15.08.20 to 31.12.20): Achieved 100% for on-boarding of at least 100 additional customers by every branch on digital payment mode.

 

Financial Inclusion

  • Since the inception of PMJDY on 16.08.2014, Bank has opened 177 lakh Basic Savings Bank Deposit Accounts.
  • RuPay Cards have been issued to 105 lakh BSBD Account holders.
  • All the SSAs allotted to the Bank are covered with either brick and mortar branch or with Bank Mitra.
  • All the Bank Mitras are provided with inter operable Micro ATM/ Kiosk Aggregated Solution (KAS) devices as per the IBA standard (1.5.1)
  • Monthly transaction done by BC per month is 90.70 (No in Lakhs).
  • Aadhaar Enabled Payment System (AEPS) inter-operability facilities are enabled in all POS machines/KAS deployed in SSAs.

 

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 Feb 08, 2021 at 11:02:00 AM )

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