Indian Bank eyes total business to more than double to Rs 35 lakh crore in 6 years: MD

New Delhi: State-owned Indian Bank expects its total business to more than double to Rs 35 lakh crore over the next six years as it gears up to celebrate its 125th anniversary, Managing Director and CEO Binod Kumar said on Wednesday.

The Chennai-based lender crossed Rs 15 lakh crore in business in the June quarter of the current fiscal.

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The bank's total business (total deposits and total advances) increased by 14 percent to Rs 15,29,201 crore as on June 30, 2026.

Indian Bank board has set a long-term target for it to become a big global bank, he said while kickstarting the celebration for the 125th foundation day.

"On the 125th year, that means 2032, we have set a target of Rs 35 lakh crore business. In June 2026, we were at Rs 15 lakh crore. That means we have to become 2.3 times what we are. We will become Rs 35 lakh crore by 2032, with the support of customers and hard work of employees," Kumar said.

Bank was incorporated on March 5, 1907, with an authorised capital of Rs 20 lakh and commenced its business on August 15, 1907.

The bank has increased its total business by 2.70 lakh crore in the last 15-18 months, more than the size of a small finance bank, he said, adding, it is possible because of the faith of the customers and the hard work of employees.

The bank has been in profit continuously since 2002, a unique feat in the banking sector, he said.

Indian Bank, which is the 7th largest bank, has over 6,000 branches and 29,000 touch points across the country.

He further said that the bank has been a frontrunner as far as pushing flagship schemes of the government, including the Prime Minister Jan Dhan Yojana.

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For the first quarter ended June 2026, Indian Bank posted a 10 percent rise in net profit at Rs 3,273 crore, aided by an improvement in core income and a decline in bad loans.

The lender had earned a net profit of Rs 2,973 crore in the same quarter of the previous fiscal.

The lender's total income increased to Rs 20,724 crore during the June quarter of 2026-27 from Rs 18,721 crore in the same period of FY26.

Interest earned by the bank also improved to Rs 18,090 crore, compared to Rs 16,283 crore in the year-ago period.

Net Interest Income (NII) increased by 17 percent to Rs 7,435 crore from Rs 6,359 crore in the June quarter of FY26.

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