Ad Here  
July
August
September
October
November
December
 
 
Research needs more funding Chola MS net crosses 100 crores SumInfra- corridor based development... Four daughters and a proud father Techies trip to India Economic issues take a back seat at G20 summit Sun Edison launches solar pumps More gensets and diesel engines from TAFE TII’s single largest investment at Thiruthani The new look- 4s Verna Backpack laboratory Scoot offers just Rs.13,500 to ANZ... Durga - India’s largest blast furnace; now operational Strategy war escalates between Hero and Honda Make way for the new and dynamic railways Celebrating 180 years of relevance OBO Bettermann for better lightning protection - Hyundai excites again CUB: towards card-less withdrawal When Centre visits the state Nigeria comes nearer Applauding enterprise... AirAsia India infuses funds to fight out competition An aerospace-defence cluster in Tamil Nadu… TN budget pragmatic and moderate on fiscal deficit Bridging the skill deficit in pharma industry Connecting the unconnected A global plastic event in India Innovation that helped Chennai port BRICS development bank Rating of states to be released soon Brand leaders come forward... Realty sector takes a break... Illicit markets a concern to growing economy Reality bytes European crisis is a global crisis! Purdue and IIT-M sign the dotted line Celebration time at MS Chola Towards peace of mind Indigo stays leader with 40 per cent share Auto test tracks launched at GARC Oragadam campus Business Briefs Airlines wage price war Realising double digit growth in Tamil Nadu ALL-two launches in a row Chennai to get a roundabout Metro Adding Zest to Scooty Ridley marathon to India Industry-well poised to invest on expansion Waste, a gold mine Time to fast-pace the logistics sector Murugappa- a year of consolidation Striking cords for 25 years… Changing dynamics in human resource management WABCO’s second Chennai plant Big-ticket investments march towards Punjab Hero Motocorp - smooth ride ECGC expands operations Apple maps – finding its way Schwing Stetter India joins hands with US-based Gomaco TCS’ revenues cross Rs 100,000 crore Carrefour’s quick exit Placing the right shoe forward... Blue Star plans a new plant in south STFC raises money TVS Logistics – another acquisition to sharpen the business model Veritas Finance- financing the unfinanced An American alliance in the chemical industry? ALL to launch electric busses Chola MS launches motor app Indian Bank – global businesses crosses Rs 3 lakh crore... Curbing steel imports will hurt small business... Inclusive and forward moving... TOP 10 CEO Compensation Investor friendly Japan Dynamic e-commerce scenario Housing Innovation Challenge, 2015 Climate change may change the way businesses work... Nothing to hide... ISRO's 100th mission Economic, business and social sustainability TII-challenging year with flat growth Steel loses its sheen Focus on self-certification and third party inspection People Flow Day- Safety Three more leather clusters… Flexible labour laws… Digital retail transactions stabilise at higher level… Gem of social service... Downsizing spree... ALL – truck industry is recovering from degrowth Tata Steel commence operations at Kalinganagar World labour laws at a glance On the ‘milky’ way LVB gears to become a financial supermarket IFCI to raise NCDs upto Rs 2000 crore Pharma market dozes Is Indian telecom industry heading for a monopoly? Need to focus on ease of doing business... Chennai will soon get its World Trade Centre Holiday Inn opens in OMR Chennai Smart controls for cooling large multi-zone spaces ... Secured NCDs from Shriram City Chennai Port is at last decongested! Business Breif Automotive Vision Plan II... Well-refined – RIL’s refinery margins zoom TiE applauds innovative entrepreneurs Creating Tamil Nadu Banana brand
 
Indian Bank – global businesses crosses Rs 3 lakh crore...

At a time when the banking sector is under stress, Indian Bank (IB), the oldest bank from Tamil Nadu, founded in 1908, has recorded impressive results of Rs 300,436 crore global business, broken into Rs 175,438 crore of global deposits and Rs 124,998 crore of global advances. Total income of the bank stood at Rs 4494 crore against Rs 4144 crore last year, a growth of 8.4 per cent.

While the sector as a whole is suffering from NPAs, IB curtailed its gross NPA to Rs 145 crore during the quarter, marking its lowest in the last twelve quarters. M K Jain, Managing Director and CEO pointed to concerted efforts being taken by the bank in this regard. A separate vertical tracks the defaulting accounts. On a  default, the bank sends a soft SMS to its customers. Jain said that the strategy has yielded better results in preventing defaults. “Next month we plan to auction online the properties mortgaged relating to around 280 accounts worth about Rs 600 crore?” said Jain.

The operating profit recorded a Y-o-Y growth of 11.25 per cent. CASA deposits grew by 15. 48 per cent to Rs 49,452 crore of which savings bank deposit grew to Rs 42,294 crore. I B has targeted a credit growth of 13 per cent for the year.

The bank plans to open 150 branches and 250 ATMs and increase its presence in the northern and western parts of the country. With a high government holding, the bank is capitally self Sufficient as of now.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com