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Indian Bank has set a long-term goal of expanding its total business to INR 35 lakh crore by 2032 as part of its roadmap towards its 125th foundation year. The public sector lender recently crossed the INR 15 lakh crore business mark, supported by steady growth in deposits and advances. The bank has also reported improved financial performance for the June quarter, with higher net profit, stronger interest income and lower bad loans. Alongside its expansion plans, Indian Bank aims to strengthen its presence as a global bank while continuing to support government-led financial inclusion programmes.
State-owned Indian Bank has set a target of increasing its total business to INR 35 lakh crore by 2032, more than doubling its current size, as the lender prepares for its 125th foundation year. The long-term roadmap was announced during the launch of the bank's anniversary celebrations, with the management outlining its vision of transforming Indian Bank into a larger global banking institution.
The Chennai-headquartered bank crossed the INR 15 lakh crore business milestone during the June quarter of the current financial year. As of June 30, 2026, its total business, comprising deposits and advances, stood at INR 15,29,201 crore, registering a 14 per cent year-on-year increase.
Managing Director and Chief Executive Officer Binod Kumar said the bank's board has approved a long-term growth strategy under which total business is expected to reach INR 35 lakh crore by 2032. He said the bank has already reached the INR 15 lakh crore mark in June 2026 and now aims to grow its business by about 2.3 times over the next six years. He added that the target would be achieved through continued customer trust and the efforts of its employees.
Indian Bank was incorporated on March 5, 1907, with an authorised capital of INR 20 lakh and began operations on August 15, 1907. As it approaches its 125th year in 2032, the lender is positioning itself for the next phase of growth through business expansion and wider banking reach.
The bank has added around INR 2.70 lakh crore to its total business over the past 15 to 18 months, a scale that the management noted is comparable to the size of a small finance bank. It attributed this growth to sustained customer confidence and employee contribution.
Indian Bank also highlighted its consistent profitability, stating that it has remained profitable every year since 2002, making it one of the few public sector banks to maintain such a record over a prolonged period.
Currently, Indian Bank is the country's seventh-largest bank and operates more than 6,000 branches along with around 29,000 customer touchpoints across India. Over the years, the lender has also played a key role in implementing various government-backed financial inclusion initiatives, including the Pradhan Mantri Jan Dhan Yojana, helping expand banking access across urban and rural regions.
The lender also reported healthy financial performance for the first quarter of FY27. Net profit increased by 10 per cent year-on-year to INR 3,273 crore, compared with INR 2,973 crore in the corresponding period of the previous financial year. The improvement was driven by higher core income and lower bad loans.
Total income during the June quarter rose to INR 20,724 crore from INR 18,721 crore a year earlier. Interest earned also increased to INR 18,090 crore from INR 16,283 crore in the corresponding quarter of the previous year.
Net Interest Income (NII), a key indicator of a bank's core lending performance, grew by 17 per cent year-on-year to INR 7,435 crore from INR 6,359 crore, reflecting continued growth in its lending business and improvement in interest earnings.
Source PTI
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