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. |
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| 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. |
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| 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 |
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| 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 | · Global Business surpassed Rs 12 lakh Crores. |
Branch Network and other touch points as on 30.06.2024
Domestic branches: 5846 (Including 3 DBUs) Overseas branches: 3 & IBU: 1
ATMs & BNAs: 5093 Business Correspondents: 11945
Bank’s Performance as on 30.06.2024
Assets and Liabilities
- Total Deposits increased by 10% YoY and reached to ₹6.81 lakh Cr in Jun’24. CASA deposit grew by 6%, savings deposit grew by 6% and Current deposit by 5% YoY.
- Domestic CASA ratio stood at 40.56% as on 30th Jun’24.
- Gross Advances increased by 12% YoY to ₹5.39 lakh Cr in Jun’24 from ₹4.79 lakh Cr in Jun’23.
- RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to ₹313301 Cr in Jun’24 from ₹276435 Cr in Jun’23.
- RAM contribution to gross domestic advances is 62.33%. Retail, Agri & MSME advances grew by 14%, 18% and 6% YoY respectively. Home Loan (Including mortgage) grew by 13% YoY and Auto Loan by 55% YoY
- Priority sector advances as a percentage of ANBC stood at 42.83% at ₹179664 Cr in Jun’24 as against the regulatory requirement of 40%.
Capital Adequacy
- Capital Adequacy Ratio stood at 16.47%. CET-I improved by 111 bps YoY to 13.42% while
Tier I Capital improved by 105 bps YoY to 13.93%.
Asset Quality
- GNPA decreased by 170 bps YoY to 3.77% in Jun’24 from 5.47%, NNPA reduced by 31 bps to 0.39% from 0.70% in Jun’23
- Provision Coverage Ratio (PCR, including TWO) improved by 156 bps YoY to 96.66% in Jun’24 from 95.10% in Jun’23
Operating Profit and Net Profit
- Net Profit up by 41% YoY to ₹2403 Cr in Q1FY25 from ₹1709 Cr in Q1FY24
- Profit Before Tax up by 35% YoY at ₹3243 Cr in Q1FY25 from ₹2394 Cr in Q1FY24
- Operating Profit increased by 9% at ₹4502 Cr in Q1FY25 from ₹4135 Cr in Q1FY24
- Net Interest Income grew by 8% to ₹6178 Cr in Q1FY25 from ₹5703 Cr in Q1FY24
Digital
- Business through Digital Channels is at ₹36,678 Cr for the QE Jun’24. A total of 84 Digital Journeys, Utilities and Processes have been launched so far.
- The number of Mobile Banking users has grown by 33% year over year, reaching 1.75 Cr.
- UPI users have seen a 30% YoY increase whereas in respect of Net Banking Users it is 26% YoY.
- Total number of Point of Sale (PoS) terminals has increased by 66% YoY, reaching a total of 21,656.
Financial Inclusion
- During Q1 FY25, total disbursement under SHG is ₹2902 Cr (YoY: 11%).
- The outstanding under SHG increased to ₹19490 Cr from ₹13906 Cr registering YoY growth of 40%. Bank assisted 4.27 lakh SHG/JLGs with 55.9 lakh members under SHG/JLG scheme.
( Last modified on Aug 09, 2024 at 05:08:52 PM )
