Page 14 - Indian Bank
Indian Bank to bring gross NPAs under 5% from 7% by March, says MD & CEO
In June quarter, gross NPAs jumped to 7.21 per cent from 6.97 per cent last year
 "Indian Bank to bring gross NPAs under 5% from 7% by March, says MD & CEO")
Indian Bank plans to raise Rs 1,200 crore to support growth plan
Indian Bank is planning to raise around Rs 1200 crore to support its growth plan. The Bank is also planning to sell assets worth Rs 540 crore to ARCs.Speaking to Business Standard Kishor Kharat, managing director and CEO, Indian Bank said that by end of the current calendar year the Bank is planning to raise the capital to support the growth."We are planning to issue around 4.75 crore shares and plans to raise around Rs 1200 crore," said Kharat.The Bank has set a target of around Rs 3.6 lakh crore business for the current fiscal. Kharat noted already the Bank has crossed Rs 3.25 lakh crore and by September it will cross Rs 3.40 lakh crore. Target of Rs 3.6 lakh crore is easily achievable, he added.Bank also set a target of 3 per cent NIM, which will be aided by retail, agriculture, MSME and corportate clients."Our focus will be RAM (retail, agriculture and MSME), which are easy to handle and NPAs are also less plus they are good business also," said Kharat.During the first quarter of .
 "Indian Bank plans to raise Rs 1,200 crore to support growth plan")
Indian Bank gets shareholders' approval to issue equity shares
According to Sebi norms, the bank must increase public shareholding to 25%
Why investors are bullish on Indian Bank
One reason is that the bank has got its business mix right: 51% retail loans, 49% wholesale ones
 "Why investors are bullish on Indian Bank")
Indian Bank reports 278% profit growth in Q4 of FY17
Total income rises to Rs 4,601.88 crore from Rs 4,512.18 crore in March quarter of previous year
 "Indian Bank reports 278% profit growth in Q4 of FY17")
Indian Bank profit up by 278.39 % in Q4
Total income rose to Rs 4601.88 crore during the quarter from Rs 4512.18 crore
 "Indian Bank profit up by 278.39 % in Q4")
Indian Bank hits lifetime high on strong Q4 results
The stock moved higher to its lifetime high of Rs 319, up 12% on BSE in intra-day trade.
 "Indian Bank hits lifetime high on strong Q4 results")
Indian Bank will have continuity in strategies and plans, says Jain
As a board-driven bank, Indian Bank will have continuity in terms of strategies and medium and long term plan even though there is a change in the position of MD & CEO, said M K Jain, the outgoing MD and CEO of Indian Bank. He will be joining IDBI Bank in the first week of April, since the financial year closure is going on in the bank.Speaking to the analysts about the change in management today, he said that while the change of guard may result in some course correction, there will not be a larger and major impact as far as the bank's future and strategy are concerned. "Top management is not consisting of only MD and CEO, the EDs and the board are still continuing, who are part of the strategies,"he said. His assurance comes in the backdrop of the declining share price of Indian Bank after the government's decision go swap the MD and CEO of Indian Bank with MD and CEO of IDBI Bank.From the media reports it seems that the government aims to give longer tenure at the management of
Indian Bank's Q3 profit up by 672% at Rs 373.48 cr
PoS & e-commerce transactions increased to 2.5 lakh from 70,000 in a day
 "Indian Bank's Q3 profit up by 672% at Rs 373.48 cr")
Indian Bank hits 52-week high post Q3 results
The stock hit a 52-week high of Rs 279, up 8% on BSE after the bank reported profit of Rs 373 crore in Q3.
Post-demonetisation, Indian Bank mobilised Rs 29,115 crore deposits
These were done by around 20,000 employees serving in 2,581 branches
Indian Bank net profit up 19% at Rs 405 crore
Board deferred plans to raise funds
Indian Bank June quarter net profit surges 43% to Rs 307 cr
Initiatives to reduce cost, improve other income improved profit, says MD & CEO
 "Indian Bank June quarter net profit surges 43% to Rs 307 cr")
Indian Bank surges over 10% post June quarter results
The stock surged 12% to Rs 174, also its 52-week high on the BSE, after reporting 43% YoY jump in profit at Rs 307 cr in Q1FY17.
 "Indian Bank surges over 10% post June quarter results")
Indian Bank Q1 net profit zooms 43% to Rs 307 crore
Net non-performing assets of the bank rose to 4.48 per cent at the end of June 2016
 "Indian Bank Q1 net profit zooms 43% to Rs 307 crore")
Former Indian Bank's CMD sentenced to undergo rigorous imprisonment
On completion of trial, M Gopalakrishnan and Sai Jagannathan were convicted and sentenced to three years of rigorous imprisonment
 "Former Indian Bank's CMD sentenced to undergo rigorous imprisonment")
Indian Bank revises FCNR deposit interest rates
For deposits in US Dollars, the revised interest rates have been fixed at 1.70% for one year
 "Indian Bank revises FCNR deposit interest rates")
CBI court convicts six people for causing loss to Indian Bank
They are accused of causing loss to the tune of Rs 5.5 cr to the lender
 "CBI court convicts six people for causing loss to Indian Bank")
Indian Bank gets board approval to raise Rs 1,100 cr
Public sector bank Indian Bank has received approval from the Board of Directors to raise Tier II or additional Tier I Bonds for Rs 1,100 crore in one or more tranches in in the current and subsequent years. The Bank, in a regulatory filing said that the Board has earlier approved to raise Basel III complaint Tier II Bonds for Rs 1,100 crore, but considering the changed scenario, the Board accorded approval to the Bank to raise Basel III complaint Tier II of Additional Tier I Bonds for the same amount in one or more tranches in the current or subsequent years based on the requirement.Ends
