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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.

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.

 

Branch Network

  •               Domestic branches: 6004               Overseas branches: 3

 

                                               Bank’s Performance as on 31.03.2021

Assets and Liabilities

  • Balance sheet size grew by 10% (Y-o-Y) and was Rs.626005 Crore as on 31st Mar’21 as against Rs.568054 Crore as on 31st Mar’20. On a sequential quarter basis it increased by 3 %.
  • Total Business recorded a Y-o-Y growth of 8 % reaching the level of Rs.928388 Crore in Mar’21 as against Rs. 857499 crore in Mar’20. On a sequential quarter basis it increased by 2 %.
  • Total Deposits   grew by 10% YoY at Rs.538071 Crore in Mar’21 as compared to Rs.488835 Crore in the previous year. On a sequential quarter basis it increased by 3%.
  • CASA deposits recorded a Y-o-Y growth of 14 % and share of CASA to total deposits was 42% in Mar’21 as against 41% a year ago. Growth in CASA was primarily driven by a Y-o-Y increase of 32% in Current account deposits and 12% in Savings account deposits.
  • Advances grew by 6% to Rs.390317 Crore in Mar’21 over Rs.368664 Crore a year ago, driven primarily by growth in RAM sector (12%), Retail (6%), Agriculture (14%), MSME (15%).
  • Priority Sector portfolio increased to Rs.130274 Crore in Mar’21 from Rs.127542 Crore in the previous year. Priority sector advances as a percentage of ANBC stood at 42.08% as against the regulatory requirement of 40%.

 

Capital Adequacy

  • For FY 21, Bank’s total Capital Adequacy Ratio (CRAR) was at 15.71% with 244 bps YoY increase. On a sequential quarter basis, it increased by 165 bps from 14.06% in Q3FY21.
  • Tier-I CRAR was at 11.94% in Mar’21 against 10.40%, up by 154 bps YoY. On a sequential quarter basis, it increased by 76 bps from 11.18% in Q3FY21.

 

Asset Quality

  • GNPA was at 9.85% of Gross advances as on Mar’21 brought down by 154 bps YoY from 11.39% as on Mar’20.
  • NNPA came down to 3.37% in Mar’21 from 4.19% as on Mar’20 with a reduction of 82 bps YoY.

 

Operating Profit and Net Profit

  • The Bank’s Operating Profit has registered a growth of 6%, Rs.2548 Crore for Q4 FY21 as against Rs.2401 Crore for Q4FY20. On a QoQ sequential basis it decreased by 18%. For FY21, it grew by 19% to Rs.11396 crore.
  • The Net Profit is at Rs.1709 Crore for Q4FY21 as against Net Loss of Rs.1641 Crore for Q4FY20. On a QoQ sequential basis it increased by 232%. For FY21, Net Profit is Rs.3005 Crore as against loss of Rs.4643 crore for FY 20.

 

Digital Initiatives

  • Enablement of MasterCard NFC (Tap & Go) Cards
  • Introduction of International RuPay Platinum Cards
  • RTGS 24*7 through Internet Banking
  • Implementation of Positive Pay System
  • Additional feature in IndOASIS- Subscription to Mutual Funds (Fisdom), Insurance, e-NPS
  • New Value added Services –NFC/NCMC acceptance enabled in PoS terminals.
  • EFRMS Solution implemented for non real time fraud detection for monitoring and to reduce overall losses through quicker detection of potential fraud.
  • FasTag: Offline FasTag issuance / recharges through branch module
  • Integration with NeSL for Digital Document Execution
  • Implementation of Power BI & Data Analytics models to support Decision Making
  • 100% Digitalisation in Digital District of Karaikal under GOI Scheme

 

Financial Inclusion

  • Since the inception of PMJDY on 16.08.2014, Bank has opened 179.26 lakh Basic Savings Bank Deposit Accounts.
  • RuPay Cards have been issued to 105.98 lakh BSBD Account holders.
  • Bank was first amongst PSBs to meet the deadline to have Banking access either through Brick & Mortar Branches or through Business Correspondents in uncovered villages, LWE areas, Tea Gardens / North-East areas allotted by DFS/ SLBCs of various states.
  • All the Bank Mitras are provided with inter operable Micro ATM/ Kiosk Aggregated Solution (KAS) devices as per the IBA standard (1.5.1)
  • Average successful number of Financial Transaction done by BCs per month has reached 103.51 lakhs.
  • Market share of Bank in PMJDY Ecospace increased (4.24% in number of accounts and 4.65% as deposit balance)

 

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 Jun 02, 2021 at 05:06:12 PM )

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