Page 9 - Indian Bank
Canara Bank to raise up to Rs 2,000 cr equity capital through QIPs
As per the filing, the number of equity shares of the face value of Rs 10 each in one or more tranches with a premium will be decided as per applicable guidelines/ regulations
 "Canara Bank to raise up to Rs 2,000 cr equity capital through QIPs")
Lakshmi Vilas Bank plans to raise Rs 1,500 crore to fund biz growth
The bank has been exploring various options for raising funds for augmenting the tier-I capital to support business growth as directed by the RBI, it said in the notice
 "Lakshmi Vilas Bank plans to raise Rs 1,500 crore to fund biz growth")
Moratorium case: SC directive to benefit small, mid-sized accounts
Bankers said special mention accounts (SMA)- overdue period between 31 to 60 days (SMA1) and overdue period between 61 to 90 days (SMA2) would have become NPAs in August and September 2020
 "Moratorium case: SC directive to benefit small, mid-sized accounts")
Indian Bank cuts 1-year MCLR by 5 bps to 7.3%; effective from September 3
Most of the consumer loans such as personal, auto and home were priced on the basis of the one-year MCLR prior to the introduction of repo-linked lending rate
 "Indian Bank cuts 1-year MCLR by 5 bps to 7.3%; effective from September 3")
Indian Bank gains 3% on heavy volume; stock jumps 6% so far in August
According to reports, the lender has decided to rope in a minority partner for Ind Bank Housing to revive the now defunct housing finance subsidiary
Indian Bank reports PBT of Rs 614.22 cr in Q1, operating profit rises 23%
The first quarter numbers are not comparable year on year and quarter on quarter as they come after the merger (Indian Bank +Allahabad Bank)
 "Indian Bank reports PBT of Rs 614.22 cr in Q1, operating profit rises 23%")
Indian Bank Q1 profit up 1% at Rs 369 cr; income doubles to Rs 11,446.7 cr
The lender had posted a net loss of Rs 217.73 crore in preceding quarter ended March 2020
Govt stands behind financial sector for India's growth, says PM Modi
Banks, NBFCs give lowdown on credit flow to PM; present ideas on financial inclusion, housing finance
 "Govt stands behind financial sector for India's growth, says PM Modi")
Indian Bank to focus on consolidation and profitability, says MD & CEO
The amalgamation of Allahabad Bank into Indian Bank has placed Indian Bank as the seventh-largest bank in India
 "Indian Bank to focus on consolidation and profitability, says MD & CEO")
City Union Bank board approves raising Rs 1,100 cr through equity, debt
The lender will seek shareholders' approval for the fundraise plan at its upcoming AGM next month
 "City Union Bank board approves raising Rs 1,100 cr through equity, debt")
Indian Bank Q4 loss before tax narrows to Rs 188 cr from Rs 393 cr
Net loss of the bank stood at Rs 217.7 crore during the fourth quarter
Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru
Indian Bank has 450,000 MSME customers who are eligible for loans guaranteed by the government.
 "Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru")
BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI
The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019
 "BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI")
One month of bank merger: Coronavirus lockdown proves a dampener
On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's second-largest lender after SBI in terms of business
 "One month of bank merger: Coronavirus lockdown proves a dampener")
Indian Bank sees new opportunities with larger footprint after merger
Both the banks have come together amid the coronavirus (Covid-19) lockdown and started working as a single bank with a larger footprint.
No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank
In a March 31 Q&A, the lender's MD & CEO dwells on its strengths following the amalgamation with Allahabad Bank
 "No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank")
Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders
The bank is in the process of filing listing applications with the stock exchanges
 "Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders")
Market Ahead, April 1: Top Factors That Could Guide Markets Today
Starting today, automobile companies will starting releasing sales numbers for March. According to a Business Standard report, these auto sales for the month could see a 50 per cent YoY
 "Market Ahead, April 1: Top Factors That Could Guide Markets Today")
Coronavirus outbreak: Consolidation in PSB space now a reality
Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.
 "Coronavirus outbreak: Consolidation in PSB space now a reality")
Bank mergers: Allahabad Bank branches are now Indian Bank branches
Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion
