Ad Here  
TII-challenging year with flat growth Chennai Port is at last decongested! STFC raises money Smart controls for cooling large multi-zone spaces ... Celebration time at MS Chola Creating Tamil Nadu Banana brand European crisis is a global crisis! Chola MS net crosses 100 crores An American alliance in the chemical industry? Placing the right shoe forward... Blue Star plans a new plant in south Carrefour’s quick exit Adding Zest to Scooty Connecting the unconnected Hyundai excites again Flexible labour laws… Towards peace of mind BRICS development bank Striking cords for 25 years… More gensets and diesel engines from TAFE Four daughters and a proud father ALL to launch electric busses Illicit markets a concern to growing economy TII’s single largest investment at Thiruthani Dynamic e-commerce scenario Celebrating 180 years of relevance Backpack laboratory Chola MS launches motor app LVB gears to become a financial supermarket Indian Bank – global businesses crosses Rs 3 lakh crore... Brand leaders come forward... Climate change may change the way businesses work... Realising double digit growth in Tamil Nadu AirAsia India infuses funds to fight out competition Inclusive and forward moving... Chennai will soon get its World Trade Centre Sun Edison launches solar pumps Auto test tracks launched at GARC Oragadam campus Nigeria comes nearer ECGC expands operations The new look- 4s Verna Big-ticket investments march towards Punjab Changing dynamics in human resource management Innovation that helped Chennai port Nothing to hide... Reality bytes Schwing Stetter India joins hands with US-based Gomaco Murugappa- a year of consolidation TN budget pragmatic and moderate on fiscal deficit Purdue and IIT-M sign the dotted line Pharma market dozes Three more leather clusters… World labour laws at a glance Research needs more funding Economic issues take a back seat at G20 summit Business Briefs Digital retail transactions stabilise at higher level… TVS Logistics – another acquisition to sharpen the business model Applauding enterprise... WABCO’s second Chennai plant Well-refined – RIL’s refinery margins zoom Automotive Vision Plan II... When Centre visits the state Indigo stays leader with 40 per cent share Veritas Finance- financing the unfinanced Waste, a gold mine Bridging the skill deficit in pharma industry Time to fast-pace the logistics sector - TiE applauds innovative entrepreneurs Economic, business and social sustainability An aerospace-defence cluster in Tamil Nadu… Secured NCDs from Shriram City ISRO's 100th mission Ridley marathon to India Techies trip to India On the ‘milky’ way TCS’ revenues cross Rs 100,000 crore Hero Motocorp - smooth ride Holiday Inn opens in OMR Chennai Focus on self-certification and third party inspection Housing Innovation Challenge, 2015 Durga - India’s largest blast furnace; now operational Make way for the new and dynamic railways Need to focus on ease of doing business... ALL-two launches in a row People Flow Day- Safety SumInfra- corridor based development... Steel loses its sheen CUB: towards card-less withdrawal OBO Bettermann for better lightning protection Scoot offers just Rs.13,500 to ANZ... Downsizing spree... Tata Steel commence operations at Kalinganagar Curbing steel imports will hurt small business... Investor friendly Japan Airlines wage price war Realty sector takes a break... ALL – truck industry is recovering from degrowth TOP 10 CEO Compensation Strategy war escalates between Hero and Honda Gem of social service... Rating of states to be released soon Business Breif A global plastic event in India Industry-well poised to invest on expansion Chennai to get a roundabout Metro Is Indian telecom industry heading for a monopoly? IFCI to raise NCDs upto Rs 2000 crore Apple maps – finding its way
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 :
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
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236