Indian Bank gives Rs 166 cr as dividend to Centre

Govt holds 82.10 % in Chenna-based bank

Indian Bank has paid Rs 165.62 crore as dividend to the government of India. Mahesh Kumar Jain, managing director & CEO (additional charge), Indian Bank, presented the dividend cheque for 2014-15 to Union Finance Minister Arun Jaitley at New Delhi on Monday. The government holds 82.10 per cent of the bank’s equity share capital of Rs 480.29 crore as on March 31.

The bank’s global business has crossed the Rs 3-lakh crore milestone as on June 30, registering a year-on-year growth of 10.05 per cent.  The bank’s capital position was very healthy with its net worth improving to a Rs 12,773 crore in June 2015 from a Rs 11,743 crore in June 2014 and the capital adequacy ratio according to Basel-III was at 12.12 per cent for the quarter ended June 30, of which Tier-I capital stood at 10 per cent.