Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX May 07 2021 12:00
    49,206.47 +256.71 ( +0.52%)
  • NIFTY May 07 2021 12:00
    14,823.15 +98.35 ( +0.67%)
  • SENSEX May 07 2021 12:00
    49,206.47 +256.71 ( +0.52%)
  • NIFTY May 07 2021 12:00
    14,823.15 +98.35 ( +0.67%)
  • Nasdaq May 08 2021 04:30
    13,752.24 +119.40 ( +0.88%)
  • DJIA May 08 2021 04:30
    34,777.76 +229.23 ( +0.66%)
  • S&P 500 May 08 2021 04:30
    4,232.60 +30.98 ( +0.74%)
  • Hang Seng May 07 2021 02:10
    28,610.65 -26.81 (-0.09%)
  • Crude Oil May 07 2021 11:29
    4,760.00 -30.00 (-0.63%)
  • Gold May 07 2021 11:29
    47,760.00 +165.00 ( +0.35%)
  • Silver May 07 2021 11:29
    71,500.00 -181.00 (-0.25%)
  • Copper May 07 2021 11:29
    786.15 +15.50 ( +2.01%)
  • Pound / Rupee Dec 23 2016 22:30
    102.48 -0.33 (-0.32%)
  • Dollar / Rupee Dec 23 2016 22:30
    73.74 -0.21 (-0.28%)
  • Euro / Rupee Dec 23 2016 22:30
    88.77 -0.01 (-0.02%)
  • Yen / Rupee Dec 23 2016 22:30
    0.68 0.00 (-0.20%)

Indian Bank

BSE Code : 532814 | NSE Symbol : INDIANB | ISIN:INE562A01011| SECTOR : Banks |

NSE BSE
 
SMC down arrow

112.90

-0.95 (-0.83%) Volume 280564

07-May-2021 EOD

Prev. Close

113.85

Open Price

114.90

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

112.90(19024)

 

Today’s High/Low 115.50 - 112.15

52 wk High/Low 157.00 - 43.20

Key Stats

MARKET CAP (RS CR) 12744.9
P/E 11.82
BOOK VALUE (RS) 296.3059069
DIV (%) 0
MARKET LOT 1
EPS (TTM) 9.55
PRICE/BOOK 0.380856396622851
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 12.1
4

News & Announcements

06-May-2021

Indian Bank declares Saravan Stores (Gold Palace) account as fraud

06-May-2021

Indian Bank - Indian Bank - Updates

30-Apr-2021

Indian Bank - Indian Bank - Interest Rates Updates

27-Apr-2021

Indian Bank spurts 2.74%, rises for fifth straight session

11-Mar-2021

Indian Bank appoints Executive Director

09-Mar-2021

Indian Bank plans to raise equity capital up to Rs 4000 cr via QIP issue

06-Mar-2021

Board of Indian Bank accords in-principal approval for divestment of stake held in JV ASREC (India)

05-Mar-2021

Indian Bank to hold board meeting

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Allahabad Bank(Merged) 532480 ALBK
Andhra Bank(Merged) 532418 ANDHRABANK
Bank of Baroda 532134 BANKBARODA
Bank of India 532149 BANKINDIA
Bank of Maharashtra 532525 MAHABANK
Canara Bank 532483 CANBK
Central Bank of India 532885 CENTRALBK
Corporation Bank(Merged) 532179 CORPBANK
Dena Bank(Merged) 532121 DENABANK
Indian Overseas Bank 532388 IOB
Oriental Bank of Commerce(Merged 500315 ORIENTBANK
Punjab & Sind Bank 533295 PSB
Punjab National Bank 532461 PNB
State Bank of Bikaner and Jaipur(Merged) 501061 SBBJ
State Bank of India 500112 SBIN
State Bank of Mysore(Merged) 532200 MYSOREBANK
State Bank of Travancore(Merged) 532191 SBT
Syndicate Bank(Merged) 532276 SYNDIBANK
UCO Bank 532505 UCOBANK
Union Bank of India 532477 UNIONBANK
United Bank of India(Merged) 533171 UNITEDBNK
Vijaya Bank(Merged) 532401 VIJAYABANK

Share Holding

Category No. of shares Percentage
Total Foreign 12940651 1.15
Total Institutions 49288601 4.36
Total Govt Holding 4021 0.00
Total Non Promoter Corporate Holding 3333685 0.30
Total Promoters 994549600 88.06
Total Public & others 69250012 6.13
Total 1129366570 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Indian Bank

A premier bank owned by the Government of India, the Indian Bank was incorporated in 05 March 1907 as Indian Bank Limited and commenced operations in 15 August 1907 as part of the Swadeshi movement. Indian Bank has many deposit schemes tailored to suit the needs of its customers, both individuals and organisations. Credit/Advances/Loan Schemes specifically designed for its customers. Also offers various novel services to customers, both individuals and organisations. Indian Bank has pan India presence with 6089 branches, 5022 ATMs and 1494 BNAs as on 31 December 2020. The Bank opened its first overseas branch in Colombo, Sri Lanka during the year 1932 and also opened its Singapore branch in 1941. In the year 1962, Indian Bank acquired the businesses of Royalaseema Bank, the Bank of Alagapuri, Salem Bank, the Mannargudi Bank and the Trichy United Bank. The Bank was nationalised in 19th July of the year 1969. The Bank name was changed to Indian Bank after the nationalisation. It was appointed as the lead bank for nine districts in the States of Tamil Nadu, Andhra Pradesh and Kerala and the Union Territory of Pondicherry. The first regional rural bank sponsored by the Bank, Sri Venkateswara Grameena Bank, was founded in the year 1981. Indbank Merchant Banking Services Ltd was incorporated as a subsidiary of the Bank during the year 1989. The Bank of Thanjavur Limited (with 157 branches) was amalgamated with the Bank during the year 1990. Ind Bank Housing Limited was incorporated in the year 1991 as a subsidiary. Indfund Management Limited was established in 1994 to manage the operations of Indian Bank Mutual Fund. During the year 1995, The Bank's own training establishment, Indian Bank Management Academy for Growth & Excellence (IMAGE) was established. Indian Bank has launched a scheme called Cash Management Services' in the year 2001 for speedy collection of outstation cheques. The Bank entered into a strategic tie-up with HDFC Standard Life Insurance Company Ltd., the first in the private sector to receive the Certificate of Registration for foray into Life Insurance business for distribution of latter's insurance products. The Bank with the Insurance Company signed a Memorandum of understanding in February of the year 2001. In 2002-03, Indian Bank received an award from NABARD for best performance under Self Help Group (SHG) in Tamil Nadu and Andhra Pradesh. In 2003, The Bank made association with the M S Swaminathan Research Foundation (MSSRF), Chennai to sponsor a programme on agriculturists to be aired on the All India Radio. The Bank in two branches implemented the Core Banking Solution in December of the year 2004. The Bank signed an agreement with Export Credit Guarantee Corporation of India in the year 2004 to distribute the latter's credit insurance packages for exporters and also in the same year the Bank joined hands with TimesofMoney for remittance solution, introduced 'IB Swarna Abharana' a new loan product for buying gold jewellery and made tie-up with Tamil Nadu Newsprint and Papers Ltd (TNPL) for financing farmers taking up farm forestry project with the sponsorship of TNPL. During the year 2004-05, The Bank entered into strategic alliance with Mahindra & Mahindra Limited and TAFE Limited for pushing up tractor usage among farmers. In the year 2005, the Bank made tie up with three overseas companies for money transfer, signed the papers with the National Exchange Company of Doha, Mussandum Exchange Company of Oman and Abu Dhabi-based UAE Exchange Company. In 2006, Indian Bank sets up new branch in Mumbai and also launched the Bharat Card. During the year 2006-07, The Bank entered into a strategic alliance with Oriental Bank of Commerce and also with Corporation Bank. As of March 2007, Indian Bank launched Ind on-line Doorstep Banking to deliver Banking and Financial Services at the doorsteps of the common man. The Bank signed an agreement with Indian Railway Catering and Tourism Corporation Limited (IRCTC) for offering train ticket booking services through IRCTC website http://www.irctc.co.in/. The agreement was signed in 1st August of the year 2007 at New Delhi and also in December of the year 2007 Indian Bank entered into a MoU with Indian Railways to install ATMs in 51 Railway Stations across the country. Of these, 34 stations will have e-ticketing kiosks also along with ATMs. Indian Bank and SME Rating Agency of India Ltd. (SMERA) formally executed an MOU in January 31st 2008 for extending their co-operation in the arena of financing of SME sector. Indian Bank won the Financial Express's Best Bank Award 2008. Indian Bank launched Application Supported by Blocked Amount (ASBA) Phase II in Mumbai on 3 May 2010. ASBA functions as an application for subscribing to a public issue or rights issue along with an authorization to a Self Certified Syndicated Bank (SCSB) to block the application money in the bank account maintained with it. On 2 August 2010, Indian Bank signed Memorandum of Understanding (MOU) with Unique Identification Authority of India (UIDAI) to act as Registrar for AADHAR' project. On 18 October 2010, Indian Bank announced the opening of its 1800th branch in Noida, Gautam Budh Nagar, Uttar Pradesh. The Board of Directors of Indian Bank at its meeting held on 27 November 2010 approved a proposal to transfer the Depository Participant (DP) business of the bank to its subsidiary company viz. M/s. Indbank Merchant Banking Services Limited and to stop operations of existing Indian Bank DP services on completion of successful transfer of DP business. On 16 December 2010, Indian Bank announced that it has entered into a three year agreement with TCS Limited for end to end ICT based Financial Inclusion Solution, deploying the Smart Card based Business Correspondent Model. On 21 January 2011, Indian Bank opened its second branch in Sri Lanka at Jaffna. With this the International presence of Indian Bank has gone up to three viz., in Singapore, Colombo and Jaffna. On 5 May 2011, Indian Bank informed the stock exchanges that the bank has received the approval of Government of India to raise an additional Equity Capital of Rs 61.40 crore through book-building process by its Follow-on Public Offer, comprising 6.14 crore Equity Shares of Rs 10 each at a premium to be decided by the bank. On 1 August 2011, Indian Bank announced that it has entered into an agreement with SBI Fund Management Private Ltd. to act as distributors to sell Mutual Fund products of SBI Mutual Fund, one of the largest Mutual Funds in India. With this accord, Indian Bank customers will have access to three top Mutual Funds of the country, as the bank already has tie up with UTI Mutual Fund and Reliance Mutual Fund. On 2 September 2011, Indian Bank launched its e-Treasury platform, combining the Domestic and Forex Trading on a Common Software Package, which analyses profitability, risk and costing aspects through different markets. On 27 September 2011, Indian Bank signed MOU with Wells Fargo Bank, National Association, a national banking association incorporated in USA. In terms of MOU, Indian Bank will be utilizing the Letter of Credit advising and negotiating services of Wells Fargo Bank in order to improve efficiency in LC processing for Indian Bank's customers. Further, documents examination services will be utilized by Indian Bank's domestic branch network to improve efficiency and reduce operational risks. On 8 November 2011, Indian Bank announced the opening of its Zonal Office (ZO) in Hubli, Karnataka. The opening of Hubli ZO will help the bank in providing services on a larger scale to the customers of the Northern and Coastal Karnataka. On 2 February 2012, Indian Bank announced that the Board of Directors of the bank has approved a Scheme of Amalgamation of M/s. Indfund Management Limited, a wholly owned subsidiary of the bank with Indian Bank. On 21 September 2012, Indian Bank entered into an MOU with National Small Industries Corporation Ltd. (NSIC). As per the MOU, NSIC will sponsor MSME proposals, after due scrutiny, at regular intervals to various branches of Indian Bank all over India. The arrangement is expected to provide more momentum to the growth of MSME advances of Indian Bank. For the quarter ended 30 June 2012, MSME advances of the bank stood at Rs 10776.30 crore, registering an annualized growth of 24.32%. On 10 December 2012, Indian Bank announced that the Board of Directors of the bank has approved a proposal to merge/hive-off Ind Bank Housing Limited, a subsidiary of the bank with Indian Bank. On receipt of capital funds from the Government of India, Indian Bank on 31 March 2015 allotted 1.54 crore equity shares at an issue price of Rs 181.31 per share aggregating to Rs 280 crore to Government of India on preferential basis. On 31 March 2016, Indian Bank announced that it has successfully raised Rs 500 crore under Basel III compliant Additional Tier I Bonds on 30 March 2016 with a coupon of 11.15% p.a. from Rural Electrification Corporation Limited. The Board of Directors of Indian Bank at its meeting held on 2 August 2016 accorded approval to the bank to raise Basel III compliant AT 1 and/or Tier 2 Bonds upto Rs 1000 crore in one or more tranches in the current or subsequent years based on the requirement. On 4 August 2016, Indian Bank and M/s. Star Agriwarehousing and Collateral Management Ltd. entered into an agreement for extending produce marketing loan to farmers. As per the agreement, M/s.Staragri will provide storage and preservation services to farmers for storing their farm produce and also collateral management services to the bank. Indian Bank will provide credit facilities to farmers against warehouse receipts. Indian Bank has developed a special product for financing farmers upto a maximum limit of Rs 50 lakh under this scheme. This facility will help the farmers to avoid distress sales under adverse market conditions and also to tide over liquidity crunch they face immediately after the harvest. Further, Food and Agro processing units can also store their produce in the storage godowns and avail credit facility against the Warehousing receipts. The Board of Directors of Indian Bank at its meeting held on 5 May 2017 accorded in-principle approval for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs 5000 crore. The Board will consider specific approval for the same at the time of actual floating of the Bonds. On 1 July 2017, Indian Bank formally launched the GST services. Indian Bank has been authorized by Chief Controller of Accounts, Central Board of Excise and Customs, to collect Goods and Service Tax (GST) through all its branches. Indian Bank is also one among the 25 banks authorized by GST Council for collection of GST. The bank is integrated with GSTN for Tax collections through Net Banking and Over the Counter (OTC) through its branches. On 11 July 2017, Indian Bank announced that credit rating agencies CRISIL and CARE have upgraded the rating of Indian Bank's Additional Tier 1 Bonds to AA+/Stable from AA/Stable) taking into consideration the bank's strong capitalization, better profitability and comfortable resource profile. On 23 November 2017, Indian Bank announced that Securities and Exchange Board of India (SEBI) has pursuant to its letter dated 20 November 2017 permitted the bank to raise capital by way of issue of equity shares pursuant to a Qualified Institutional Placement subject to the receipt of the approval from Government of India (QIP) and achieve minimum public shareholding as required under Rule 19A of Securities Contracts Regulation (Rules), 1957 pursuant to the QIP. The Board of Directors of Indian Bank at its meeting held on 19 December 2017 accorded approval to the bank to raise equity capital upto Rs 7000 crore (including Share Premium) in one or more tranches in the current or subsequent financial years based on the requirement through FPO/Private Placement/QIP/Rights Issue/Preferential Issue/Institutional Placement Program, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the Bank at EGM and other regulatory authorities. On 1 February 2018, Indian Bank has launched a new loan product called 'IB MUDRA TVS KING' by entering into MoU with TVS company for financing for 3 wheeler. On 5 April 2018, Indian Bank launched 2 new Tech product called 'BHARAT QR' & 'PUBLIC FINANCIAL MANAGEMENT SYSTEM' for facilitating transactions of Merchants /Customers/General Public and Government organizations. During the FY2019, the Bank's business crossed the milestone figure of Rs 4 trillion to reach Rs 4,29,972 Crore with a robust growth of 15.89%. Within which, Deposits grew by Rs 33,782 Crore (16.22%) to Rs 2,42,076 Crore and Advances by Rs 25,170 Crore (15.47%) to Rs 1,87,896 Crore. The bank has allotted 2900 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 290 crore at a coupon rate of 8.90% on Private Placement basis to 19 investors on 30.10.2018. Further the bank allotted 1100 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 110 crore at a coupon rate of 8.85% on Private Placement basis to 18 investors on 06.11.2018. Also allotted 6000 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 600 crore at a coupon rate of 8.53% on Private Placement basis to 9 investors on 22.01.2019. A special resolution approving raising equity capital upto a Rs 7000 crore (including premium) in one or more tranches in the current or subsequent years based on the requirement through FPO / Private Placement / QIP/Rights Issue / Preferential Issue / Employees share Purchase Plan was passed through postal ballot on 27 March 2019. As on 31 March 2019, the bank has 2 subsidiaries and 3 associate RRBs under its roof. The bank conferred with the award'Best Performance - Financial Literacy - 2018-19' by NABARD. The bank also bagged 'Best Bank in SHG Bank linkage Programme' for 2017-18 from Govt of Tamil Nadu. Bank has bagged this award for consecutive years. The bank also won the 'Best Public Sector Bank' Banking Excellence Award 2018 - By State Forum of Banker's Clubs Kerala. As on 31 March 2019, the bank had a distribution network of 2872 branches, 1043 BNAs and 2849 ATMs across the country. During the FY2020, the Bank's business crossed Rs 4.5 trillion to reach Rs 466116 Crore with a Y-o-Y growth of 8%. The bank's Deposits grew by 7.5% to Rs 260226 Crore and Advances by 10% to Rs 205890 Crore. The credit growth surpassed the ASCB growth of 6.4%. The year 2019-20 was eventful for Indian Bank as the Bank was identified as theAnchor Bank in consolidation of PSBs. The Government on 30 August 2019 announced the Amalgamation of Allahabad Bank- a bank with 155 years legacy into Indian Bank. The amalgamation of Allahabad Bank into Indian Bank has placed the Bank as the 7 largest Bank with more th than Rs 8.50 lakh Crore business, 43,000 strong workforce and over 6000 branch network with a strong CASA base. The Bank has issued 11,72,65,954 equity shares of Rs.10/ each to Government of India on preferential basis on 03.12.2019. The total domestic branch network of the Bank in India increased to 2887 as on 31 March 2020. from 2872 as on st 31 March 2019. Besides, the Bank has 3 overseas st branches, taking the total branch network to 2890. The total number of ATMs & BNAs increased to 4149 as on 31 March 2020 from 3892 as on 31 March 2019, which includes 695 offsiteATMs / BNAs and 6 mobileATMs. As per Govt. of India Gazette notification dated 04.03.2020 Allahabad Bank has been amalgamated into Indian Bank wef 01.04.2020. On 05.03.2020 the Board of Directors of the Bank and the Board of Directors of Allahabad Bank at their respective meetings, approved amalgamation. The respective Banks have also approved the swap ratio of 115 shares of face value Rs. 10/- each of Indian Bank for every 1000 equity shares of Face Value of Rs. 10/- each of Allahabad Bank. During quarter ended 31 December 2020, the Bank has raised Additional Tier 1 capital in three tranches aggregating to Rs 2000 crore through private placement of Basel III compliant AT 1 Perpetual Bonds.

Indian Bank Chairman Speech

Ms PADMAJA CHUNDURU

Managing Director & Chief Executive Officer

Dear Shareholders,

On my personal behalf and on behalf of Board of Directors and employees of the Bank, it is my pleasure to place the highlights of your Bank's performance during FY 2018-19 before you. The Annual Report for the Financial Year ended 31st March 2019 details the achievements made and initiatives taken by your Bank.

Before we get to the financials, let me briefly dwell on macroeconomic scenario.

Economic overview – Global Economy:

Global economic activity has slowed down in the second half of 2018, reflecting a confluence of factors affecting major economies.

There has been subdued performance in United States in the final quarter of 2018 which continued in Q1 of 2019 also on account of declining factory activity. China's growth declined following a combination of needed regulatory tightening to rein in shadow banking and an increase in trade tensions with the United States. The Euro area economy lost more momentum than expected as consumer and business confidence weakened and car production in Germany was disrupted by the introduction of new emission standards; investment dropped in Italy as sovereign spreads widened; and external demand, especially from emergingAsia, softened.

Indian Economy:

Under Ease of Doing Business, Country's rank improved by 23 Positions to 77th rank among 190 countries assessed by the World Bank in 2017.

With declaration of Elections results, the uncertainties surrounding the next Government has been put to rest. The strong mandate for the current Government for the second successive 5 year term would ensure a continuity in policy and reforms, pave the way for commencement of investment decisions and inflows. This in turn would augur well for the domestic economy as there are increased expectations of its revival.

However there are challenges, both internal and external which pose potential threats to revival of the domestic economy. Uncertainties in trade together with political tensions, rising crude oil prices and slowdown in global economic momentum remain concerns from the outside. On the domestic front, lower than expected normal monsoons, muted domestic consumption and investments, slow growth in job creation and liquidity pressures in the domestic NBFCs segment have the potential to affect the overall growth in economic activity.

In view of the above challenges and risks which confront the country, a sudden and significant spurt in economic activity and investments may be difficult immediately. On the global front, expectation of opportunities which would be beneficial to the country is expected to take some time to materialize. Going forward, growth would be gradual over a period of time which could set the trend for an improved performance in future.

Banking Sector:

The banking sector passed through a phase of liquidity deficit for most of the year. While deposits grew by 9.2% as of March 1st 2019 as compared to 6% over end-March 2018, growth in credit was higher at 14.6% as against 10.6% during the said periods.

RBI increased the repo rate from 6% to 6.5% in two tranches of 25 bps each and then lowered the rate in the February 2019 monetary policy to 6.25% and to 6.00% in theApril 2019 policy.

Bank's performance - YE March 2019

Against this backdrop, I would like to present a snapshot of the Bank's performance in key parameters

Business:

Bank's business crossed the milestone figure of `4 trillion to reach `4,29,972 Cr with a robust growth of 15.89%. Within which, Deposits grew by `33,782 Cr (16.22%) to `2,42,076 Cr andAdvances by `25,170 Cr (15.47%) to `1,87,896 Cr.

Profitability:

• Operating Profit was at `4880.62 Cr, while Net Profit was at `321.95 Cr. The profitability was subdued on account of reduced profit from sale of Investments and higher provisions on NPAs on account of increased slippages and Depreciation on Investments.

• Your Bank is one of the very few profit making PSBs during FY 2018-19 with Return onAssets (ROA) of 0.12%.

Growth in CASA:

• The share of low-cost Current & Savings deposits (CASA Domestic) in Total Deposits at 35.48%, enabled the Bank to record a growth of 9.16% (y-o-y) to touch `83,459.20 Cr. Adverse market conditions viz., withdrawal of Government deposits, migration of money into mutual funds and higher attractive interest rate offered on small savings schemes however mellowed down the growth.

Diversified Loan Book:

• Growth in advances was broad based across all the sectors driven by robust growth in Agriculture (25%). Other sectors Retail (13%) and MSME (15%) also posted healthy increase. With Corporate growing at 12%, the Loan Book was well diversified with RAM Sector constituting 58%.

• 18 Ind MSME Branches (catering exclusively to MSMEs), 76 Specialized MSME Branches (with more than 60% of advances to MSMEs) & 500 MSME focus branches garnered business under this sector.

• During the year, Bank's exposure to Micro, Small & Medium Enterprises grew by 14.53% with exposure to Small Enterprises growing 25.69%.

• MUDRA loans of `3103 Cr was extended to around 1.50 lakh beneficiaries by the Bank including its Regional Rural Banks.

• 3692 MSMEs benefitted under Stand up India Scheme to the tune of `783.31 Cr over a period of three years.

• 27 cluster specific schemes have been approved across the country for giving a fillip to MSME sector.

Contribution from core geographies:

• Bank's core geographies viz., 5 Southern States & UT of Puducherry contributed significantly towards business and infrastructure set up:

• 57% of Bank's Business {Deposits - 52% & Advances –64%}

• 66% of CASA portfolio, 70% of Retail Credit and 79% of Priority Sector lending.

• CD ratio at 93% as against overall Bank CD ratio of 77%.

• 52% of branch network are in Rural and Semi Urban centres and 84% of BCs & 70% of ATMs and BNAs are at the aforementioned States/UT

Mandatory targets surpassed:

3 Priority Sector Advances (`66,847.36 Cr) as a percentage of Adjusted Net Bank Credit (ANBC) was 41.93% as against regulatory target of 40% with Agriculture lending (`31,747.Cr) at 19.91% as against the target of 18%.

Enablers driving RAM business:

• Centralized processing units (CPUs) exclusively for processing MSME loans were operationalised in 8 centers during the Year and 24 Ind Retail processing Centres (IRPCs) functioning across India are driving growth of MSME/Retail loans.

• Bank is onboarded in three TReDS platform for discounting of Bills of MSME units.

Forerunner in lending to SHGs;

• 39 specialized Microsate branches deliver exclusive and specialized attention towards SHGs. The portfolio size of SHG increased by `697.91 Cr during FY 2018-19 to touch `4733.41 Cr. Bank has been bagging the Best Bank award for 10 consecutive years "in SHG Bank linkage Programme" from Govt of Tamil Nadu.

Expanding Bank's foot print:

• Towards enhancing its pan-India network and to extend its reach to the under-banked and unbanked areas, 91 branches were opened during the year to touch 9786 touch points, including 2872 Brick & Mortar branches and 3892ATMs/BNAs and 3022 Business Correspondents.

• Bank has international presence in Singapore and Colombo & Jaffna in Sri Lanka. Both these Centres are Profit making and Bank has focused on further business improvement at these Centres.

Financial Inclusion initiatives:

Your Bank has been a forerunner in supporting the Government of India's National Mission for Financial Inclusion Pradhan Mantri Jan-Dhan Yojana (PMJDY). Bank's performance has been exemplary since its launch as the following facts indicate:

• 37.78 lakh BSBD accounts opened since inception of the scheme.

• Average monthly transaction done per each Business Correspondent (BCs) is more than 1000 - Highest in the Industry in terms of number of transactions.

• Enrolled 10 Lakh customers under PMJJBY & 22 Lakh customers under PMSBY customers since the launch of the scheme.

• Sourced more than 5.8 lakh APY subscribers since the launch of the scheme in 2015. During the current fiscal, your Bank sourced 2.3 lakh subscribers against the annual target of 1.62 lakh given by PFRDA.

Social Responsiveness

• Bank as a responsible Corporate Citizen reached out to the needy and marginalized population through various contributions:

Clean India Movement: Donated automatic napkin vending machines and incinerators to Government schools/ colleges and hostels for women in Tamil Nadu.

Women Empowerment: Sponsored Event "Parampara" organized by Parichay Foundation on 2nd September 2018 at Delhi.

Inclusive Growth: Extended sponsorship for constructing 1800 ft road under CSR from Village Maujdin to Government Primary school, Madhao Singhana, Sirsa, Haryana.

• Donated `24 lakhs towards construction of National Academy of RUDSETI (NAR) Building at Bengaluru for Skill Development under CSR.

Green Initiative: Contributed `9 lakhs for Green Vellore Project of VIT, Vellore

Robust capital structure:

• Following the first tranche of capital infusion i.e. `88,139 Cr in FY 2017-18 to PSBs by Government of India, a second tranche of `1.06 lakh Cr was provided in FY 2018-19. I feel proud to inform that your Bank was the only PSB which did not require Government's capital assistance as it has been self sustaining in terms of Capital by continuous plough back of internal accruals.

• With CRAR at 13.21% under Basel III, as at the end of March 2019, Bank is adequately capitalized.

• Bank has raised capital of `294.35 Cr in May 2019 through Employees Stock Purchase Scheme (ESPS) and there are plans to tap the market at the appropriate time during FY 2019-20 to raise Capital for the growth plans and also to bring down the stake of Government of India below 75% as per regulatory guidelines for which near approval from esteemed Shareholders are available.

• Market Capitalisation of the Bank was at `13,446 Cr.

Controlled asset quality:

• Gross NPAs to Gross Advances Ratio and Net NPAs to Net Advances Ratio reduced to 7.11% and 3.75% respectively from 7.37% and 3.81% respectively as on 31st March 2018. Stressed Assets Ratio too reduced from 8.65% as on 31.03.2018 to 8.50% as on 31.03.2019.

Leveraging Technology

• Bank has continued to invest in modernising its infrastructure with focus on improving efficiency in delivering services through digital channels.

Top performing Bank for multiple scheme payments under Public Financial Management System (PFMS).

Four fold increase in Mobile banking transactions.

nd and 5th among all banks in ATM

2 highest among PSBs transactions.

Highest Rupay Platinum card issuer among all banks.

New initiatives:

Tamil Nadu Grama Bank, exclusive Regional Rural Bank for the State commenced operations on 1st April 2019 with 630 branches and Business of more than `22,500 Cr after successful amalgamation of Pandyan Grama Bank of Indian Overseas Bank with Bank's Pallavan Grama Bank.

• Successfully implemented the newly launched PM-Kisan Scheme of Government of India, as a sole Banker for Tamil Nadu and Puducherry.

• Online opening of Savings Bank Account enabled through Bank's website/MobileApp usingAadhaar Based OTP.

• Bank's Mobile APP (IndPAY) is now available in 5 languages (viz. English, Tamil, Malayalam, Hindi and Marathi) for customer convenience.

• Bank's Website revamped with a new look and feel, as per the current industry standards.

• New look Internet Banking website launched with value added features.

Awards andAccolades

Bank was bestowed with a number of awards and I am glad to share details of few of them:

"Best performing PSB underAPY 2017-18" - PFRDA

"Best Performance – Financial Literacy - 2018-19" –NABARD

"Best Bank in SHG Bank linkage Programme" for 2017-18 from Govt of Tamil Nadu. Bank has bagged this award for 10 consecutive years.

"National Award for Best Performance in SHG Bank Link ages 2017-18 Public Sector Banks

(Small Category)" by National Rural Livelihoods Mission, Ministry of Rural Development, Government of India.

"Best Financial Inclusion Initiatives – Runner up" –Indian BanksAssociation (IBA).

ASSOCHAM - Social Banking Excellence Award 2018 -Winner in Agricultural Banking, Priority Sector Lending, Technology & Overall Best Social Bank.

• Government of India's "Rajbhasha Kirti Puraskar" for 'Outstanding Performance in implementation of Official Language' during the year 2017-18.

"Best Public Sector Bank" Banking Excellence Award 2018 - By State Forum of Banker's Clubs Kerala.

The path ahead:

With the formation of stable Government at the centre, continuation of reforms, higher financial flows to the commercial sector reviving economic activity, there is likely to be enough impetus for accelerating growth in the FY 2019-20. Further, the cleaning up of Balance Sheet of PSBs through the process of recapitalisation of Public Sector Banks and resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC), would improve the business and investment environment which, in turn, will aid robust growth in banking sector as the credit needs of the economy are inter twined.

Government's overarching framework for reforms agenda is

"Responsive and Responsible PSBs" aimed at EASE -Enhanced Access and Service Excellence which together with Recapitalization of PSBs is aimed at strengthening PSBs, increasing lending to MSMEs and making it easier for MSMEs and retail customers to transact as well as significantly increase access to banking services.

On the other hand, the domestic economy may face headwinds due to slowdown in global growth, volatility in international crude oil prices and sluggish private investments.

Bank's strategy for FY 2019-20 will be concentrated on growth with profitability.

The prime focus would be on increasing CASA, curtailing cost, increasing revenue other than from interest, accelerating recovery in respect of impaired assets and containing the level of NPA. In the process growth in business would culminate into improving the bottom line of the Bank.

The focus would also be on offering efficient and excellent customer service with frequent employee customer connects and educating customers on the use of digital banking to give them great ease and convenience.

The Management team is confident that our collective effort and teamwork along with your continuous patronage, trust and encouragement will help us to surpass the expectations of all the stakeholders in the year ahead.

Acknowledgement:

I would like to take this opportunity to thank all members of the Board for their valuable support, guidance and inputs to the Management during the course of this year's journey. I would also like to acknowledge the unstinted support of our loyal customers and express my sincere appreciation for the untiring efforts of the dedicated and devoted work force of the Bank who performed exceedingly well in a turbulent banking environment.

I also wish to sincerely thank each one of our valuable shareholders and other stakeholders for their continued confidence and support to the bank in all its endeavours.

We would continue to look forward to your support, goodwill and patronage.

With best wishes,

Yours sincerely,

PADMAJA CHUNDURU MD & CEO

   

Indian Bank Company History

A premier bank owned by the Government of India, the Indian Bank was incorporated in 05 March 1907 as Indian Bank Limited and commenced operations in 15 August 1907 as part of the Swadeshi movement. Indian Bank has many deposit schemes tailored to suit the needs of its customers, both individuals and organisations. Credit/Advances/Loan Schemes specifically designed for its customers. Also offers various novel services to customers, both individuals and organisations. Indian Bank has pan India presence with 6089 branches, 5022 ATMs and 1494 BNAs as on 31 December 2020. The Bank opened its first overseas branch in Colombo, Sri Lanka during the year 1932 and also opened its Singapore branch in 1941. In the year 1962, Indian Bank acquired the businesses of Royalaseema Bank, the Bank of Alagapuri, Salem Bank, the Mannargudi Bank and the Trichy United Bank. The Bank was nationalised in 19th July of the year 1969. The Bank name was changed to Indian Bank after the nationalisation. It was appointed as the lead bank for nine districts in the States of Tamil Nadu, Andhra Pradesh and Kerala and the Union Territory of Pondicherry. The first regional rural bank sponsored by the Bank, Sri Venkateswara Grameena Bank, was founded in the year 1981. Indbank Merchant Banking Services Ltd was incorporated as a subsidiary of the Bank during the year 1989. The Bank of Thanjavur Limited (with 157 branches) was amalgamated with the Bank during the year 1990. Ind Bank Housing Limited was incorporated in the year 1991 as a subsidiary. Indfund Management Limited was established in 1994 to manage the operations of Indian Bank Mutual Fund. During the year 1995, The Bank's own training establishment, Indian Bank Management Academy for Growth & Excellence (IMAGE) was established. Indian Bank has launched a scheme called Cash Management Services' in the year 2001 for speedy collection of outstation cheques. The Bank entered into a strategic tie-up with HDFC Standard Life Insurance Company Ltd., the first in the private sector to receive the Certificate of Registration for foray into Life Insurance business for distribution of latter's insurance products. The Bank with the Insurance Company signed a Memorandum of understanding in February of the year 2001. In 2002-03, Indian Bank received an award from NABARD for best performance under Self Help Group (SHG) in Tamil Nadu and Andhra Pradesh. In 2003, The Bank made association with the M S Swaminathan Research Foundation (MSSRF), Chennai to sponsor a programme on agriculturists to be aired on the All India Radio. The Bank in two branches implemented the Core Banking Solution in December of the year 2004. The Bank signed an agreement with Export Credit Guarantee Corporation of India in the year 2004 to distribute the latter's credit insurance packages for exporters and also in the same year the Bank joined hands with TimesofMoney for remittance solution, introduced 'IB Swarna Abharana' a new loan product for buying gold jewellery and made tie-up with Tamil Nadu Newsprint and Papers Ltd (TNPL) for financing farmers taking up farm forestry project with the sponsorship of TNPL. During the year 2004-05, The Bank entered into strategic alliance with Mahindra & Mahindra Limited and TAFE Limited for pushing up tractor usage among farmers. In the year 2005, the Bank made tie up with three overseas companies for money transfer, signed the papers with the National Exchange Company of Doha, Mussandum Exchange Company of Oman and Abu Dhabi-based UAE Exchange Company. In 2006, Indian Bank sets up new branch in Mumbai and also launched the Bharat Card. During the year 2006-07, The Bank entered into a strategic alliance with Oriental Bank of Commerce and also with Corporation Bank. As of March 2007, Indian Bank launched Ind on-line Doorstep Banking to deliver Banking and Financial Services at the doorsteps of the common man. The Bank signed an agreement with Indian Railway Catering and Tourism Corporation Limited (IRCTC) for offering train ticket booking services through IRCTC website http://www.irctc.co.in/. The agreement was signed in 1st August of the year 2007 at New Delhi and also in December of the year 2007 Indian Bank entered into a MoU with Indian Railways to install ATMs in 51 Railway Stations across the country. Of these, 34 stations will have e-ticketing kiosks also along with ATMs. Indian Bank and SME Rating Agency of India Ltd. (SMERA) formally executed an MOU in January 31st 2008 for extending their co-operation in the arena of financing of SME sector. Indian Bank won the Financial Express's Best Bank Award 2008. Indian Bank launched Application Supported by Blocked Amount (ASBA) Phase II in Mumbai on 3 May 2010. ASBA functions as an application for subscribing to a public issue or rights issue along with an authorization to a Self Certified Syndicated Bank (SCSB) to block the application money in the bank account maintained with it. On 2 August 2010, Indian Bank signed Memorandum of Understanding (MOU) with Unique Identification Authority of India (UIDAI) to act as Registrar for AADHAR' project. On 18 October 2010, Indian Bank announced the opening of its 1800th branch in Noida, Gautam Budh Nagar, Uttar Pradesh. The Board of Directors of Indian Bank at its meeting held on 27 November 2010 approved a proposal to transfer the Depository Participant (DP) business of the bank to its subsidiary company viz. M/s. Indbank Merchant Banking Services Limited and to stop operations of existing Indian Bank DP services on completion of successful transfer of DP business. On 16 December 2010, Indian Bank announced that it has entered into a three year agreement with TCS Limited for end to end ICT based Financial Inclusion Solution, deploying the Smart Card based Business Correspondent Model. On 21 January 2011, Indian Bank opened its second branch in Sri Lanka at Jaffna. With this the International presence of Indian Bank has gone up to three viz., in Singapore, Colombo and Jaffna. On 5 May 2011, Indian Bank informed the stock exchanges that the bank has received the approval of Government of India to raise an additional Equity Capital of Rs 61.40 crore through book-building process by its Follow-on Public Offer, comprising 6.14 crore Equity Shares of Rs 10 each at a premium to be decided by the bank. On 1 August 2011, Indian Bank announced that it has entered into an agreement with SBI Fund Management Private Ltd. to act as distributors to sell Mutual Fund products of SBI Mutual Fund, one of the largest Mutual Funds in India. With this accord, Indian Bank customers will have access to three top Mutual Funds of the country, as the bank already has tie up with UTI Mutual Fund and Reliance Mutual Fund. On 2 September 2011, Indian Bank launched its e-Treasury platform, combining the Domestic and Forex Trading on a Common Software Package, which analyses profitability, risk and costing aspects through different markets. On 27 September 2011, Indian Bank signed MOU with Wells Fargo Bank, National Association, a national banking association incorporated in USA. In terms of MOU, Indian Bank will be utilizing the Letter of Credit advising and negotiating services of Wells Fargo Bank in order to improve efficiency in LC processing for Indian Bank's customers. Further, documents examination services will be utilized by Indian Bank's domestic branch network to improve efficiency and reduce operational risks. On 8 November 2011, Indian Bank announced the opening of its Zonal Office (ZO) in Hubli, Karnataka. The opening of Hubli ZO will help the bank in providing services on a larger scale to the customers of the Northern and Coastal Karnataka. On 2 February 2012, Indian Bank announced that the Board of Directors of the bank has approved a Scheme of Amalgamation of M/s. Indfund Management Limited, a wholly owned subsidiary of the bank with Indian Bank. On 21 September 2012, Indian Bank entered into an MOU with National Small Industries Corporation Ltd. (NSIC). As per the MOU, NSIC will sponsor MSME proposals, after due scrutiny, at regular intervals to various branches of Indian Bank all over India. The arrangement is expected to provide more momentum to the growth of MSME advances of Indian Bank. For the quarter ended 30 June 2012, MSME advances of the bank stood at Rs 10776.30 crore, registering an annualized growth of 24.32%. On 10 December 2012, Indian Bank announced that the Board of Directors of the bank has approved a proposal to merge/hive-off Ind Bank Housing Limited, a subsidiary of the bank with Indian Bank. On receipt of capital funds from the Government of India, Indian Bank on 31 March 2015 allotted 1.54 crore equity shares at an issue price of Rs 181.31 per share aggregating to Rs 280 crore to Government of India on preferential basis. On 31 March 2016, Indian Bank announced that it has successfully raised Rs 500 crore under Basel III compliant Additional Tier I Bonds on 30 March 2016 with a coupon of 11.15% p.a. from Rural Electrification Corporation Limited. The Board of Directors of Indian Bank at its meeting held on 2 August 2016 accorded approval to the bank to raise Basel III compliant AT 1 and/or Tier 2 Bonds upto Rs 1000 crore in one or more tranches in the current or subsequent years based on the requirement. On 4 August 2016, Indian Bank and M/s. Star Agriwarehousing and Collateral Management Ltd. entered into an agreement for extending produce marketing loan to farmers. As per the agreement, M/s.Staragri will provide storage and preservation services to farmers for storing their farm produce and also collateral management services to the bank. Indian Bank will provide credit facilities to farmers against warehouse receipts. Indian Bank has developed a special product for financing farmers upto a maximum limit of Rs 50 lakh under this scheme. This facility will help the farmers to avoid distress sales under adverse market conditions and also to tide over liquidity crunch they face immediately after the harvest. Further, Food and Agro processing units can also store their produce in the storage godowns and avail credit facility against the Warehousing receipts. The Board of Directors of Indian Bank at its meeting held on 5 May 2017 accorded in-principle approval for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs 5000 crore. The Board will consider specific approval for the same at the time of actual floating of the Bonds. On 1 July 2017, Indian Bank formally launched the GST services. Indian Bank has been authorized by Chief Controller of Accounts, Central Board of Excise and Customs, to collect Goods and Service Tax (GST) through all its branches. Indian Bank is also one among the 25 banks authorized by GST Council for collection of GST. The bank is integrated with GSTN for Tax collections through Net Banking and Over the Counter (OTC) through its branches. On 11 July 2017, Indian Bank announced that credit rating agencies CRISIL and CARE have upgraded the rating of Indian Bank's Additional Tier 1 Bonds to AA+/Stable from AA/Stable) taking into consideration the bank's strong capitalization, better profitability and comfortable resource profile. On 23 November 2017, Indian Bank announced that Securities and Exchange Board of India (SEBI) has pursuant to its letter dated 20 November 2017 permitted the bank to raise capital by way of issue of equity shares pursuant to a Qualified Institutional Placement subject to the receipt of the approval from Government of India (QIP) and achieve minimum public shareholding as required under Rule 19A of Securities Contracts Regulation (Rules), 1957 pursuant to the QIP. The Board of Directors of Indian Bank at its meeting held on 19 December 2017 accorded approval to the bank to raise equity capital upto Rs 7000 crore (including Share Premium) in one or more tranches in the current or subsequent financial years based on the requirement through FPO/Private Placement/QIP/Rights Issue/Preferential Issue/Institutional Placement Program, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the Bank at EGM and other regulatory authorities. On 1 February 2018, Indian Bank has launched a new loan product called 'IB MUDRA TVS KING' by entering into MoU with TVS company for financing for 3 wheeler. On 5 April 2018, Indian Bank launched 2 new Tech product called 'BHARAT QR' & 'PUBLIC FINANCIAL MANAGEMENT SYSTEM' for facilitating transactions of Merchants /Customers/General Public and Government organizations. During the FY2019, the Bank's business crossed the milestone figure of Rs 4 trillion to reach Rs 4,29,972 Crore with a robust growth of 15.89%. Within which, Deposits grew by Rs 33,782 Crore (16.22%) to Rs 2,42,076 Crore and Advances by Rs 25,170 Crore (15.47%) to Rs 1,87,896 Crore. The bank has allotted 2900 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 290 crore at a coupon rate of 8.90% on Private Placement basis to 19 investors on 30.10.2018. Further the bank allotted 1100 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 110 crore at a coupon rate of 8.85% on Private Placement basis to 18 investors on 06.11.2018. Also allotted 6000 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 600 crore at a coupon rate of 8.53% on Private Placement basis to 9 investors on 22.01.2019. A special resolution approving raising equity capital upto a Rs 7000 crore (including premium) in one or more tranches in the current or subsequent years based on the requirement through FPO / Private Placement / QIP/Rights Issue / Preferential Issue / Employees share Purchase Plan was passed through postal ballot on 27 March 2019. As on 31 March 2019, the bank has 2 subsidiaries and 3 associate RRBs under its roof. The bank conferred with the award'Best Performance - Financial Literacy - 2018-19' by NABARD. The bank also bagged 'Best Bank in SHG Bank linkage Programme' for 2017-18 from Govt of Tamil Nadu. Bank has bagged this award for consecutive years. The bank also won the 'Best Public Sector Bank' Banking Excellence Award 2018 - By State Forum of Banker's Clubs Kerala. As on 31 March 2019, the bank had a distribution network of 2872 branches, 1043 BNAs and 2849 ATMs across the country. During the FY2020, the Bank's business crossed Rs 4.5 trillion to reach Rs 466116 Crore with a Y-o-Y growth of 8%. The bank's Deposits grew by 7.5% to Rs 260226 Crore and Advances by 10% to Rs 205890 Crore. The credit growth surpassed the ASCB growth of 6.4%. The year 2019-20 was eventful for Indian Bank as the Bank was identified as theAnchor Bank in consolidation of PSBs. The Government on 30 August 2019 announced the Amalgamation of Allahabad Bank- a bank with 155 years legacy into Indian Bank. The amalgamation of Allahabad Bank into Indian Bank has placed the Bank as the 7 largest Bank with more th than Rs 8.50 lakh Crore business, 43,000 strong workforce and over 6000 branch network with a strong CASA base. The Bank has issued 11,72,65,954 equity shares of Rs.10/ each to Government of India on preferential basis on 03.12.2019. The total domestic branch network of the Bank in India increased to 2887 as on 31 March 2020. from 2872 as on st 31 March 2019. Besides, the Bank has 3 overseas st branches, taking the total branch network to 2890. The total number of ATMs & BNAs increased to 4149 as on 31 March 2020 from 3892 as on 31 March 2019, which includes 695 offsiteATMs / BNAs and 6 mobileATMs. As per Govt. of India Gazette notification dated 04.03.2020 Allahabad Bank has been amalgamated into Indian Bank wef 01.04.2020. On 05.03.2020 the Board of Directors of the Bank and the Board of Directors of Allahabad Bank at their respective meetings, approved amalgamation. The respective Banks have also approved the swap ratio of 115 shares of face value Rs. 10/- each of Indian Bank for every 1000 equity shares of Face Value of Rs. 10/- each of Allahabad Bank. During quarter ended 31 December 2020, the Bank has raised Additional Tier 1 capital in three tranches aggregating to Rs 2000 crore through private placement of Basel III compliant AT 1 Perpetual Bonds.

Indian Bank Directors Reports

To

The Members,

Your Directors have immense pleasure in presenting the Bank's Annual Report along with the Audited Statement of Accounts and the Cash Flow statement for the year ended 31 March st 2020

FINANCIAL HIGHLIGHTS

The major highlights of your Bank's performance during FY 20 are as follows:

Resource mobilization &Advances:

(Rs in Cr)

Particulars 31.03.20 31.03.19 Growth (%)
Domestic Deposits 252792 235237 7.5
Of which Current 13059 12778 2.2
Savings 76525 70681 8.3
CASA 89584 83459 7.3
CASA Mix 35.4 35.4
Overseas Deposits 7434 6839 8.7
Global Deposits 260226 242076 7.5
Domestic Advances (Net) 189696 173820 9.1
Overseas Advances (Net) 8191 7442 10.1
Total Advances (Net) 197887 181262 9.2
Total Business 458113 423338 8.2
Total Assets 310052 281190 10.3

• Domestic CASA registered a growth of 7.3% YoY and the CASA ratio was maintained at 35.4%. In order to augument the CASA portfolio, Bank has opened 21,56,586 new CASA accounts during FY 20. Facility for online opening of Savings bank account by customers was rolled out during the year and 16,666 accounts have been opened upto 31 March st 2020.

• Core Term Deposits posted a growth of 22.9% as against 13.1% in FY 19. Reliance on Bulk deposits (PDs and CDs) has declined significantly and their share to total deposits was at 4.3% as against 11.7% for the previous year.

• Priority Sector Advances was at Rs 72,248 Cr as on 31st March 2020. Priority sector as a percentage to quarterly average Adjusted Net Bank Credit (ANBC) for FY 20 stood at 43.42% as against the mandatory target of 40%.

• Agriculture Credit (Priority Sector) was at Rs 31,358 Cr and the percentage to quarterly average ANBC stood at 18.84% as against the mandatory target of 18.00%.

• Capital Adequacy Ratio (Basel III) was at 14.12% as at March 31, 2020 as compared to 13.21% as at March 31, 2019.

• Gross NPA was at 6.87% as on March 31, 2020 as against 7.11% as on March 31, 2019 while Net NPA was at 3.13% as on March 31, 2020 as against 3.75% as on March 31, 2019.

• Total recovery of NPAs during FY20 amounted to Rs 1,494 Cr as against Rs 1,808 Cr in the previous year.

• Total domestic branch network of the Bank in India increased to 2887 as on 31st March 2020. from 2872 as on 31st March 2020 Besides, the Bank has 3 overseas branches, taking the total branch network to 2890.

• Total number of ATMs & BNAs increased to 4149 as on 31st March 2020 from 3892 as on 31st March 2019, which includes 695 offsite ATMs / BNAs and 6 mobile ATMs.

• As on 31st March 2020 bank has installed passbook kiosks at 716 locations.

( Rs in Cr)

31.03.20 31.03.19 Growth (%)
Interest Earned 21405 19185 11.6
Interest Expended 13799 12167 13.4
Net Interest Income (NII) 7606 7018 8.4
Other Income 3313 1883 75.9
Of which — Fee Income 1357 1185 14.5
Profit on sale of Investments 880 175 402.9
Recovery of bad debts 261 158 65.2
Operating Revenue (NII + Other income) 10919 8901 22.7
Operating Expenses 4421 4020 10
Of which Employee Expenses 2473 2223 11.2
Other operating Expenses 1948 1797 8.4
Operating Profit 6498 4881 33.1
Provisions 5745 4559 26
Of which Provisions for NPA 4336 3658 18.5
Provision for Standard advances 143 -6 xxx
Provision for Tax 619 -38 xxx
Net profit 753 322 133.9

INCOMEAND EXPENDITURE

• During the year 2019-20, total income of the Bank increased by 17.3% to Rs 24,718 Cr, with Interest Income at Rs 21,405 Cr and other Income at Rs 3,313 Cr

• The Bank's total expenditure increased by 12.6% to Rs 18,219 Cr from Rs 16,187 Cr during FY 20.

• Total operating expenses was at Rs 4,421 Cr for FY 20 as compared to Rs 4,020.37 Cr in FY 19.

• Operating Profit increased to Rs 6498 Cr as against Rs 4,881 Cr for FY 19.

• Net profit increased to Rs 753 Cr as against Rs 322 Cr for FY19.

KEY RATIOS FOR MAR - 20 (in %)
Parameters Mar-20 Mar-19
Yield on Advances 8.46 8.45
Cost of Deposits 5.34 5.28
Return on Assets 0.26 0.12
Cost Income ratio 40.49 45.17
Average Business per employee (` in lakh) 2286.76 1917.96
Profit per employee (` in lakh) 4.02 1.64

NETWORTH AND CRAR:

• Networth of the Bank stood at Rs 18,357 Cr as on March 31, 2020 from Rs 15,754 Cr as on March 31, 2019.

• As per Basel III norms, the Capital to Risk weighted Assets Ratio (CRAR) was at 14.12% as on March 31, 2020, compared to 13.21% of March 31, 2019 and as against the requirement of 10.875 %. The CET- I ratio was 11.78% as of March 31, 2020 as compared to 10.96% as of March 31, 2019 and against the minimum requirement of 7.375%. The CRAR of Tier I capital was 12.08% as of March 31, 2020 as against 11.29% as of March 31, 2019.

(in %)

As on
BASEL III Mar-20 Mar-19
CET- I 11.78 10.96
Tier- I Capital 12.08 11.29
Tier-II Capital 2.04 1.92
Total 14.12 13.21

RECRUITMENT /TRAINING

• As per Government guidelines, pre-recruitment and pre-promotion trainings were offered to SC/ST employees during the process of direct recruitment and internal promotions.

CHANGES IN THE BOARD DURING THE YEAR:

All the Directors have been appointed/nominated by the Govt. of India (GOI) except Shareholder Directors.

• Shri J K Dash was RBI Nominee Director of the Bank upto 25.04.2019. Shri S K Panigrahy was nominated as RBI Nominee Director in place of Shri J K Dash vide Government of India, Ministry of Finance, Department of Financial Services, New Delhi Notification F No.6/3/2011-BO.1 dated 26.04.2019.

• Shri Vijay Kumar Goel, Part time Non Official Director under Chartered Accountant Category was Director of the Bank till 25.07.2019.

• Shri Amit Agrawal was Government Nominee Director of the Bank upto 24.01.2020. Shri Sanjeev Kaushik was nominated as Gol Nominee Director in place of Shri Amit Agrawal vide Government of India, Ministry of Finance, Department of Financial Services, New Delhi Notification F No.6/3/2012-BO.I (Vol II) dated 24.01.2020.

• The 3 year term of Shri Padmanaban Vittal Dass, Part-Time Non-Official Director of the Bank ended on 24.04.2019. He was re-nominated as Part time Non-Official Director of the Bank for a period of one year or until the amalgamation of the Bank i.e. 31.03.2020, or until further orders, whichever is earliest, vide Gol notification F.No.6/1/2018-BO.1 (Vol III) dated 21.10.2019. His term ended on 31.03.2020.

• The term of Shri M K Bhattacharya, Executive Director was extended for a period beyond 17.02.2020 till the date of his superannuation, i.e. 30.11.2020, or until further orders, whichever is earlier vide GOI notification F.No.4/5/2016 -BO.I dated 18.02.2020.

• The applicable accounting standards have been followed along with proper explanation relating to material departures, if any.

• The accounting policies framed in accordance with the guidelines of the Reserve Bank of India, were consistently applied.

• Reasonable and prudent judgment and estimates were made so as to give a true and fair view of the state of affairs of the Bank at the end of the financial year and of the profit of the Bank for the year ended March 31, 2020.

• Proper and sufficient care were taken for the maintenance of adequate accounting records in accordance with the provisions of applicable laws governing banks in India.

• The accounts have been prepared on a going concern basis.

ACKNOWLEDGEMENT

The Directors confirm that in the preparation of the annual account for the year ended March 31, 2020.

The Board expresses its deep sense of gratitude to the Government of India, Reserve Bank of India and Securities & Exchange Board of India for the valuable guidance and support received from them. The Board also thanks the financial institutions and correspondent banks for their co-operation and support. The Board acknowledges the unstinted support of its customers and shareholders.

The Board places on record its appreciation for the valuable contribution made by Shri. J.K.Dash, Shri. Amit Agrawal, Shri. Vijay Kumar Goel and Shri. Padmanaban Vittal Dass who ceased to be members during the year.

The Board places on record its appreciation for the dedicated services and contribution made by members of staff for the overall performance of the Bank.

For and on behalf of Board of Directors

PADMAJA CHUNDURU MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

   

Indian Bank Company Background

Padmaja Chunduru
Incorporation Year1907
Registered Office66 Rajaji Salai,P B No 1384
Chennai,Tamil Nadu-600001
Telephone91-44-25233231/25231253/25231254,Managing Director
Fax91-44-25231278
Company SecretaryDina Nath Kumar
AuditorM Thomas & Co/P S Subramania Iyer & Co
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarCameo Corporate Services Ltd
Subramanian Building,1ST Floor No 1,Club House Road,Chennai - 600002

Indian Bank Company Management

Director NameDirector DesignationYear
M K Bhattacharya Executive Director 2020
Padmaja Chunduru Managing Director & CEO 2020
Shenoy Vishwanath Vittal Executive Director 2020
S K Panigrahy Nominee (RBI) 2020
Sanjeev Kaushik Nominee (Govt) 2020
K Ramachandran Executive Director 2020
Dina Nath Kumar Company Secretary 2020
Bharath Krishna Sankar Director (Shareholder) 2020

Indian Bank Listing Information

Listing Information
BSE_500
BSE_PSU
CNX500
BSESMALLCA
PSUBANK
CNXSMALLCA
BSEALLCAP
BSEFINANCE
BSEBHARA22
SML250
MSL400
NFTYMSC400
NFTYSC50
NFTYSC250

Indian Bank Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Interest/Discount on Adv/BillsRs.00015933.0415
Income on investments Rs.0005278.8236
Interest on Balances with RBI Rs.000177.4266
Others Rs.00015.6775

Contact us Contact us