Public sector bank, Indian Bank has set youth as its new target customer. The bank has prepared a plan to entice the youth via totally automated branches this fiscal.
An official said that in this fiscal, the bank would establish 5 totally automated branches.
T.M. Bhasin, Indian bank’s chairman and MD said, “The first such branch will be opened in our new corporate office (here) which will be inaugurated Aug 15. The other branches will come up soon after that in Mumbai, Delhi, Hyderabad and Bangalore”.
While announcing the bank’s results for the year 2009-10, Bhasin said that the e branches of the bank would have higher ATMs for banking.
These e branches would work without human interference although initially some staff members would around to help the customer, Bhasin added.
Indian bank would be setting up 190 branches throughout India this year. With this the total number of the bank’s branches would cross 1, 940.
Bhasin also said that the topline ( sales ) and bottomline (net profits) of the bank increased by 14.81% and 24.87% respectively for the fiscal just finished.
He said, “The bank posted a total income of Rs.9,030.32 crore and a net profit of Rs.1,554.99 crore last year as against Rs.7,865.77 crore and Rs.1,245.32 crore respectively during 2008-09. The bank did total business of Rs.150,000 crore (deposits Rs.88,228 crore, advances Rs.62,658 crore”.