Indian Bank

Public sector lender Indian Bank is targeting up to Rs 5,500 crore from the recovery of bad loans during the current financial year. "The recovery made during the first quarter was Rs 1,885 crore, and the aim is to garner Rs 4,500 crore to Rs 5,500 crore under this head in FY27," Indian Bank MD and CEO Binod Kumar told PTI in an interaction. Of this, the Chennai-based bank hopes to realise Rs 500 crore during the ongoing financial year from cases listed before NCLT. Asked about the foreign currency deposit mobilisation drive started last month, he said the bank has collected USD 140 million till July 9. "My plan is to raise around USD 2 billion in FCNR (B) deposits till September. It may seem high, but I already have a pipeline of USD 1 billion," he said. Indian Bank currently offers interest rates varying from 5.5-6.5 per cent on FCNR (B) deposits depending on tenure and amount. In a bid to attract foreign currency deposits by Non-Resident Indians (NRIs), Overseas Citizens of In

Indian Bank looks to mobilise $2 bn in FCNR (B) deposits

PSU Bank index logged its sharpest intra-day gain in three months on Friday. Analysts expect PSU Banks to outdo private peers on earnings front on improvement in asset quality and high credit growth.

State-owned Indian Bank on Friday posted a 10 per cent rise in net profit to Rs 3,273 crore in the first quarter of the current financial year. The Chennai-based lender had earned a net profit of Rs 2,973 crore in the same quarter of the previous fiscal. The lender's total income increased to Rs 20,724 crore during the June quarter of 2026-27 from Rs 18,721 crore in the same period of FY26, Indian Bank said in a regulatory filing. Interest earned by the bank also improved to Rs 18,090 crore, compared to Rs 16,283 crore in the year-ago period. Net Interest Income (NII) increased by 17 per cent to Rs 7,435 crore from Rs 6,359 crore in the June quarter of FY26, it said. During the period under review, its operating profit increased to Rs 5,557 crore from Rs 4,770 crore in the same quarter a year ago. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.86 per cent of gross advances at the end of the June quarter from 3.01 per cent a year ..

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Public sector lenders Canara Bank, Bank of Baroda (BoB) and Indian Bank together paid a dividend of Rs 7,023 crore to the government for the financial year 2025-26 on Monday. Newly appointed Canara Bank MD and CEO Brajesh Kumar Singh presented a dividend cheque of Rs 2,397 crore to Finance Minister Nirmala Sitharaman in the presence of Financial Services Secretary Sanjay Lohiya. For the financial year 2025-26, Canara Bank declared a dividend of 4.2 per share, representing 210 per cent of the face value of Rs 2 each, the lender said in a statement. The dividend payout is a testament to Canara Bank's strong financial performance and its ongoing commitment to creating long-term value for all stakeholders, including its majority stakeholder, the Government of India, it said. In its statement, BoB said the bank's MD and CEO, Debadatta Chand, presented a dividend cheque of Rs 2,811 crore to the Finance Minister. For 2025-26, the bank declared a dividend of Rs 8.50 per equity share, ...

Governor Sanjay Malhotra says the central bank has adequate currency stocks and will ensure prompt replenishment wherever ATMs face cash shortages

Jatin Gedia of Teji Mandi reckons that Indian Bank, Phoenix Mills and PFC have found support at their respective 200-DMAs and look ripe for further upside, according to technical charts.

Had temporarily recalled officials handling treasury, wholesale, and corporate banking as war escalated

India's weightage in the MSCI Standard Index remained broadly unchanged at 12.3 per cent, versus 12.4 per cent earlier

The resumption is expected to boost the country's gold imports, widen ‌the trade deficit and put more pressure on the rupee, which is among Asia's worst-performing currencies this year

Indian Bank plans a qualified institutional placement in Q3 FY27 to absorb the impact of RBI's expected credit loss framework coming into effect from April 2027

Indian Bank's CEO flags continued deposit pressure and cautious margin outlook even as credit growth and asset quality remain stable

Indian Bank reported a net profit of ₹3,103 crore, up 5 per cent from ₹2,956 crore in the year-ago period

Indian Bank reported a 5 per cent rise in Q4 FY26 profit, aided by strong NII growth and improved asset quality, though non-interest income declined during the quarter

Tonse along with group chief financial officer Niranjan Banodkar, says the focus is also on how to benefit from the collaboration with SMBC

State-run Indian Bank on Monday said it has raised Rs 5,000 crore through a 10-year, long-term infrastructure bond issue at a coupon rate of 7.15 per cent. The lender received two bids for a cumulative amount of Rs 3,100 crore at 7.13 per cent coupon, two bids each for a cumulative value of Rs 4,100 crore and Rs 5,050 crore, at a coupon rate of 7.14 per cent and 7.15 per cent, respectively, market sources said. Additionally, the bank received one bid for a cumulative amount of Rs 5,075 crore, market participants added. The bank planned to raise Rs 5,000 crore, including Rs 3,000 crore in the greenshoe option. The bonds have been rated 'AAA' with 'Stable' outlook by CARE and CRISIL. Pay in and allotment of the bonds will take place on March 24. Pay in is the date when investors and the issuer exchange bonds and money.

At 09:30 AM on Friday; Nifty PSU Bank index, the top gainer among sectoral indices, was up 3.4 per cent, as compared to 1.2 per cent rise in the Nifty 50.

Lenders launch Swiss challenge auction with a ₹285 crore anchor bid, offering 39% recovery; counter-bids must be fully in cash

Despite the past two days decline, the Nifty PSU Bank index has outperformed the market by surging 21%, as against 1% rise in the Nifty 50 in the past five months.