Indian Bank has planned to reach Rs 2.25 lakh crore business in 2011-12

By | March 15, 2011

A recent report said that Indian bank has planned to grow in its total business by 24 per cent that is Rs. 2, 25,000 crore in the current fiscal. The growth is expected to include Rs 1, 00,000 crore of advances in 2011-12 and the total business which stood at Rs.1, 82, 000 crore.

The bank now has three overseas branches in Jaffna, Colombo and Singapore and has planned to increase its branch network from 1, 863 to 2,000 in the current fiscal. Being a public sector lender the bank has shown consistent performance in offering personal loan and other loan.

The bank has fixed a target of Rs. 15, 000 crore of business from its overseas branches and Mr. TM Bhasin, CMD of Indian Bank said that the bank has planned to open five new branches including three at Sri Lanka. He said that the bank has planned to open branches at Sri Lanka in order to continue its focus on the Tamil Population.  He added saying that the bank was going to open three branches overseas in places namely Hong Kong and an office in Jakarta. He also mentioned the banks business being Rs 10,000 crore from overseas branches in the last fiscal.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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