Leading Public Sector Bank, Indian Bank plans to open around 100 new branches during the current financial year. The bank focus on expanding its presence in the Central and Western parts of the country.
The bank is also hiring around 2,500 employees to support business growth and replace retiring staff, as reported by news agency PTI.
“Last year we opened 100 branches. This year too we have similar plans. Just on August 15, which was our foundation day, the bank inaugurated 15 branches across the country,” Indian Bank MD and CEO Binod Kumar told PTI in an interaction.
“Now we are trying to increase our presence in the Central and Western parts of the country,” he said.
The MD and CEO said the bank plans to add around 2,500 employees during the current financial year, including specialist officers. The bank had 41,875 employees as of June 30, 2026.
Indian Bank financial performance:
On the non-performing assets (NPAs), Indian Bank said it aims to bring down gross NPAs to 1.5-1.6 per cent of total advances and net NPAs to 0.15-0.2 per cent by the end of the current financial year.
He said the bank also plans to sell bad loans worth Rs 200 crore to an asset reconstruction company (ARC) during the financial year.
Further on the Gold Loan, the bank’s chief said Indian Bank expects its gold loan portfolio to cross Rs 1.5 lakh crore during the current financial year, supported by demand.
“Gold loan is safe lending for banks…it is not a consumption loan, but mostly it is income-generating and also helps small businesses to grow. Last year, we saw very significant growth of 30 per cent in the segment due to a jump in gold prices. It will be slower this year as there is a 30 per cent decline in gold prices,” Kumar said to PTI.
He told that the growth in the gold loan portfolio would be driven by tonnage, with the segment expected to grow by around 20 per cent.
Indian Bank’s gold loan portfolio currently stands at around Rs 1.25 lakh crore and is expected to cross Rs 1.5 lakh crore during the financial year at the anticipated growth rate.
