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 Cr.|
Domestic branches: 5770 Overseas branches: 3 & IBU: 1
Bank’s Performance as on 31.12.2022
Assets and Liabilities
- Domestic CASA deposits grew by 3% YoY and 0.2% QoQ and touched ₹240466 Cr in Q3 FY23. Savings account deposits grew by 5% YoY.
- Advances grew by 13% to ₹451658 Cr in Q3 FY23 over ₹400432 Cr a year ago, primarily driven by growth in RAM sector (12%) of which growth in Retail, Agriculture and MSME was 15%, 15% and 6% respectively. On QoQ sequential basis advances grew by 3%.
- Balance sheet size grew by 4% YoY and was ₹681070 Cr as on 31st Dec’22 as against ₹657082 Cr as on 31st Dec’21. On a sequential QoQ basis, it grew by 1%.
- Total Business recorded YoY growth of 9% reaching the level of ₹1048772 Cr in Dec’22 as against ₹963007 Cr in Dec’21. On a sequential QoQ basis it increased by 2%.
- Total deposits grew by 6% YoY and 1% QoQ and stood at ₹597114 Cr as on Dec’22 as against ₹562575 Cr in Dec’21.
- Priority Sector portfolio increased to ₹152850 Cr in Dec’22 from ₹144433 Cr in same quarter of the previous year. Priority sector advances as a percentage of ANBC stood at 45.19% as against the regulatory requirement of 40%.
- For Q3 FY23, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.74% with 27 bps YoY increase. On a sequential quarter basis, it decreased by 41 bps from 16.15% in Q2 FY23.
- Tier-I CRAR was at 12.58% in Dec’22 against 12.03%, up by 55 bps YoY. On a sequential quarter basis, it decreased by 31 bps from 12.89%in Q2 FY23.
- GNPA was at 6.53% of Gross advances as on Dec’22 decreased by 260 bps YoY and decreased by 77 bps QoQ.
- The Net NPA ratio was 1.00% on 31st Dec’22 from 2.72% in Dec’21. It stood at 2.27% at 31st Mar’22.
Operating Profit and Net Profit
- The Bank’s Operating Profit has registered a growth of 13% YoY to ₹11255 Cr for NME FY23 as against ₹9979 Cr for NME FY22.
- The Bank’s Net Profit for the Nine Months period grew by 30% YoY to ₹3834 Cr from ₹2961 Cr in NME FY22. On a QoQ sequential basis Net Profit increased by 14%.
- Enabled FASTag Recharge Facility through BBPS and UPI
- UPI switch integration with PG aggregator (Mswipe/Cashfree)
- Introduced UPI payment as additional option for MUP challan collection
- UPI Credit transaction confirmation through SMS
- Purchase of Motor/Health Insurance from Universal Sompo Insurance through IndOASIS
- Since the inception of PMJDY on 16.08.2014, Bank has opened 285 lakh Basic Savings Bank Deposit Accounts.
- RuPay Cards have been issued to 112 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 4.17%; while in terms of balance outstanding at 4.61%.
Corporate Social Responsibility
- CSR Activities – Education, Health Care, Environment, Rural Upliftment, Poverty and Nutrition
- Teaching and Training aids to Tapan Rehabilitation Society, Karnal
- Wheel-chairs to Tata Memorial Hospital, Mumbai
- Trolley stretchers to Indira Gandhi Institute of Medical Sciences, Sheikhpura, Patna.
( Last modified on Jan 30, 2023 at 03:01:21 PM )