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