Page 15 - Indian Bank

We aren't shutting out NBFCs, will lend to strong ones: Indian Bank chief

Padmaja Chunduru has assumed charge as managing director and CEO of Indian Bank on September 21, 2018. Prior to this, she was Deputy Managing Director (Global Markets), State Bank of India, Corporate Cente, Mumbai. Indian Bank is among the few public sector banks in the country which are posting net profit on a quarterly basis. In her first interview to T E Narasimhan, Chundru elaborates her observations on the current trends in the sector and future plans for the Bank. Edited Excerpts:You are taking over at a time when the banking sector is facing a lot of challenges. What are your strategies to take Indian Bank forward?The series of initiatives by Government of India and RBI for resolution of stressed assets especially the Insolvency & Bankruptcy Code (IBC) have started paying off. The year 2017-18 saw a few of high value NPA accounts getting resolution and during the current Financial Year, it is expected that Banks will make substantial recovery from the NPA accounts referred .

Indian Bank raises Rs 2.90 bn via Tier-2 bonds on private placement basis

The bank plans to raise bonds up to Rs 10 bn in one or more tranches during the current or subsequent years

Indian Bank Q1 net profit falls 44% to Rs 2 bn despite rise in income

Net NPAs fell to 3.79 per cent (Rs 59.98 billion) from 4.05 per cent (Rs 52.38 billion)

Indian Bank withdraws plans to pay dividend after RBI censures proposal

The bank had recommended payment of Rs 6 per share last month for the year ended March 31

Indian Bank to withdraw dividend payment resolution after RBI's reply

Indian Bank's Board on May 10 has recommended for payment of dividend at Rs 6 per share of the equity capital for 2017-18

Indian Bank Q4 profit drops 59% to Rs 1.3 bn on higher NPA provisioning

Indian Bank is planning to raise around Rs 30 billion capital to support it's growth during 2018-19.The capital would help the Bank to reach total book size of Rs 4.25 lakh crore from Rs 3.71 lakh crore currently.The Bank will look at QIP and rights issues during the current fiscal to support the target, Kishor Kharat, managing director and CEO, Indian Bank told Business Standard in an interview.He added, the Government may not pump in capital into the Bank as it has to bring down it's stake to 70 per cent from 82.87 per cent.Meanwhile the Bank's fourth quarter profit has dropped by 32 per cent to Rs 1.31 billion from Rs 3.19 billion during the same quarter of previous financial year. He said, the drop in profit was due to increase in provision coverage ratio to 65 per cent from 59 per cent.Besides, due to pressure in the bond market, sale of investment which dropped to Rs 6.62 billion from Rs 8.72 billion. He added, the recent circular of RBI relates to revised resolution ...

Indian Bank Q4 net profit slumps 59% to Rs 1.32 bn on higher NPAs

In absolute terms, gross NPAs were at Rs 119.90 bn, up from Rs 98.65 bn in the year-ago period

Indian Bank ramping up overseas ops in Sri Lanka, Singapore: CEO Kharat

Indian Bank had taken steps to increase business levels as there was 'slight stagnancy earlier'

Indian Bank revises rates on Foreign Currency Non-Resident deposits

For deposits of two years and above but less than three years, the interest rates were revised to 3.31% from 3.08%

Indian Bank extends rally post robust September-quarter results

The stock hit a record high of Rs 401, up 8%, extending its 17% gain in past six trading sessions

Indian Bank raises Rs 2,000 cr for infrastructure, affordable home loans

Providing affordable housing is one of the ambitious projects of the government

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 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 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

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 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 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 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