Recently, there was news that Oriental Bank of Commerce, Allahabad Bank, Corporation Bank and Indian Bank merging with PNB, will form a better balance sheet. "We have not heard that at all. May be a WhatsApp message is getting circulated. At present, there is nothing as far as our knowledge goes,” Indian Bank Executive Director A S Rajeev told Deccan Herald.
Rajeev said, "Our capital adequacy ratio (CAR) is the best in the industry for the past four years, which is 13.20% and tier I capital is 12.08%. We are a very well-capitalised bank. We don’t require any capital at all. We have enough headroom available for growth.” CAR, also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is the ratio of a bank’s capital to its risk.
At present, the government holds 82% stake in Indian Bank. Rajeev was in the city to inaugurate specialised branches for retail and MSMEs. IND Retail will exclusively handle home loans, vehicle loans and mortgage loans and IND MSME will cater to the needs of MSMEs.
"We are targeting a growth of 25-30% this financial year through MSME segment. As of now, we have 33 specialised branches dedicated to MSME and we are planning to add 80 branches by March-end.”
For next quarter, the bank is purely concentrating on retail and MSME sector as corporate sector is a stressed area.
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