Page 13 - Indian Bank

Indian Bank reports PBT of Rs 614.22 cr in Q1, operating profit rises 23%

The first quarter numbers are not comparable year on year and quarter on quarter as they come after the merger (Indian Bank +Allahabad Bank)

Indian Bank Q1 profit up 1% at Rs 369 cr; income doubles to Rs 11,446.7 cr

The lender had posted a net loss of Rs 217.73 crore in preceding quarter ended March 2020

Govt stands behind financial sector for India's growth, says PM Modi

Banks, NBFCs give lowdown on credit flow to PM; present ideas on financial inclusion, housing finance

Indian Bank to focus on consolidation and profitability, says MD & CEO

The amalgamation of Allahabad Bank into Indian Bank has placed Indian Bank as the seventh-largest bank in India

City Union Bank board approves raising Rs 1,100 cr through equity, debt

The lender will seek shareholders' approval for the fundraise plan at its upcoming AGM next month

Indian Bank Q4 loss before tax narrows to Rs 188 cr from Rs 393 cr

Net loss of the bank stood at Rs 217.7 crore during the fourth quarter

Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru

Indian Bank has 450,000 MSME customers who are eligible for loans guaranteed by the government.

BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI

The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019

One month of bank merger: Coronavirus lockdown proves a dampener

On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's second-largest lender after SBI in terms of business

Indian Bank sees new opportunities with larger footprint after merger

Both the banks have come together amid the coronavirus (Covid-19) lockdown and started working as a single bank with a larger footprint.

No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank

In a March 31 Q&A, the lender's MD & CEO dwells on its strengths following the amalgamation with Allahabad Bank

Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders

The bank is in the process of filing listing applications with the stock exchanges

Market Ahead, April 1: Top Factors That Could Guide Markets Today

Starting today, automobile companies will starting releasing sales numbers for March. According to a Business Standard report, these auto sales for the month could see a 50 per cent YoY

Coronavirus outbreak: Consolidation in PSB space now a reality

Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.

Bank mergers: Allahabad Bank branches are now Indian Bank branches

Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion

Indian Bank launches mobile ATM to help public deal with Covid-19 crisis

Customers of other banks can also use the facility

Coronavirus outbreak disrupts PSB merger as banks put programmes on hold

According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.

Indian Bank urges customers to go digital to keep Coronavirus at bay

Advises them to avoid ATMs and cash deals, says mobile and internet banking are both safe and convenient

Share exchange ratio for merger remains unchanged, says Indian Bank

The Board of Directors on March 5 approved fair equity share exchange ratio at 115 equity shares of Rs 10 each of Indian Bank for every 1000 shares of Rs 10 each of Allahabad Bank

FM Nirmala Sitharaman to review bank merger preparedness on Thursday

Banks likely to set up common call centres and monitoring cells