Leading public sector bank Indian Bank plans to open around 100 new branches during the current financial year, with the bank focusing its expansion on 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, according to reports.
Key Highlights
- Indian Bank plans 100 new branches as part of its network expansion strategy.
- The lender will recruit 2,500 employees to strengthen operations and customer services.
MD and CEO Outlines Branch Expansion Plans
"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. "Now we are trying to increase our presence in the Central and Western parts of the country," he added.
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 Targets Lower NPAs, Rs 200 Crore Bad Loan Sale
On non-performing assets (NPAs), Indian Bank said it aims to bring down gross NPAs to 1.5-1.6% of total advances and net NPAs to 0.15-0.2% by the end of the current financial year. Binod Kumar said the bank also plans to sell bad loans worth Rs 200 crore to an asset reconstruction company (ARC) during the financial year.
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Gold Loan Portfolio Expected to Cross Rs 1.5 Lakh Crore
On the gold loans front, Binod Kumar said Indian Bank expects its gold loan portfolio to cross Rs 1.5 lakh crore during the current financial year, supported by continued 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% in the segment due to a jump in gold prices. It will be slower this year as there is a 30% decline in gold prices," Binod Kumar said.
He added that growth in the gold loan portfolio would now be driven by tonnage, with the segment expected to grow by around 20% this year. 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.
