Indbank News & Events
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Appointment of Mr.A.Rajaraman as President and Whole Time Director
Shri. A.Rajaraman, DIN: 08854134, has been co-opted as an Additional Director and been designated as President and Whole Time Director of the Company by the Board of Directors in their meeting held on 03.09.2020 as recommended by the Nomination and Remuneration Committee at its meeting held on 03.09.2020, with effect from 03.09.2020, who shall hold office till the conclusion of the ensuing Annual General Meeting. Shri. A.Rajaraman (DIN: 08854134), 56 years, having banking experience of 30 years, has served in various capacities in various places of the Country, which includes Deputy Zonal Manager of Bangalore Zone and Zonal Manager of Tiruvannamalai Zone. He is presently, holding the designation of Assistant General Manager of Indian Bank. -
Co-Option of Director
Shri.Arun Kumar Bansal, DIN: 08425582, has been co-opted as an Additional Director on the Board with effect from 25th July, 2020 by the Board vide resolution passed by circulation passed on 24.07.2020. Shri Arun Kumar Bansal (DIN: 08425582), 49 years, commenced his career at Indian Bank in the year 1991 as an Award staff. His qualifications include post graduate in Commerce, Post Graduate Diploma in Banking and Finance, CAIIB and MBA in Marketing. He is also associated with FPSB as a Certified Financial Planner. He has 29 years of experience in Corporate Banking, Retail Banking, Rural Banking and Integrated Treasury Management. Shri Arun Kumar Bansal, is currently, working as General Manager / CFO of Indian bank. -
Co-Option of Director
Shri K.Ramachandran, has been co-opted as an Additional Director on the Board with effect from 11th June, 2020. Shri K.Ramachandran, aged 59, is a Post Graduate in Science with Post Graduate Diploma in Computer Application. Shri K.Ramachandran, is an Executive Director of Indian bank from 01.04.2020. Earlier he held the office of Executive Director of Allahabad Bank since 26th December, 2018 to 31st March, 2020 (up to the merger of Allahabad Bank with Indian Bank). He joined Corporation Bank as Probationary Officer in May 1985 and had worked in Branches, Corporate Office and other Controlling Offices. He was part of the core team involved in the design, development and implementation of the total Branch Automation, Internet Banking and Mobile Banking application of Corporation Bank. As Asst. General Manager, Priority Sector he had implemented the voice enabled Point of Transaction, Hand Held Terminals used by Business Correspondents. Shri Ramachandran held independent charge of Alternate Channels, Credit Monitoring verticals and had headed Thane Zone of Corporation Bank. On elevation to General Manager Cadre, he was heading Chennai Circle of Corporation Bank from April 2016. -
Co-Option of Director
Shri Vaijinath Gavarshetty, has been co-opted as an Additional Director on the Board with effect from 19th July, 2019. Shri Vaijinath Gavarshetty, aged 61, is a science graduate, with MBA (Banking & Finance), CAIIB. He has over 33 years of experience in Banking with State Bank of India (SBI) from 08.03.1985 to 30.06.2018, in various capacities & positions, including as Chief General Manager & head of Bank’s Real Estate &Housing Finance Business for the whole Bank, as a Zonal Head of one of the largest & most vibrant Zones of SBI, He was also a Faculty /Trainer. He is Engaged as Consultant with India Mortgage Guarantee Corporationand Syndicate Bank. -
Co-Option of Director
Shri Shenoy Vishwanath Vittal, Executive Director, Indian Bank has been co-opted as an Additional Director on the Board with effect from 11th February 2019. Shri Shenoy Vishwanath Vittal, aged 56, is a commerce graduate from Mumbai University. He joined as Probationary Officer in Union Bank of India on 17th January, 1985. He is also an Associate member of Indian Institute of Bankers and successfully underwent one year Management Education Programme conducted internally by the Union Bank of India. He is a career Banker since last 35 years. -
Co-Option of Director
Shri P L V K Sesha Sai, Assistant General Manager, Indian Bank (Nominee of Indian Bank) was appointed as President & Whole Time Director of the company by the Board of Directors of the company with effect from 06.08.2018, Shri P L V K Sesha Sai, aged 57 holds a Bachelors Degree in Commerce with CAIIB qualification. He is currently occupying the position of Assistant General Manager of Indian Bank and is on deputation to the company. He has over 34 years of experience in various areas in the banking and financial service industry. -
Co-Option of Directors
Shri P.A.Krishnan ,Deputy General Manager, Indian Bank has been co-opted as a Director on the Board with effect from 27th July 2017. Shri P.A.Krishnan , aged 57 holds a Degree in Commerce and is a member of Institute of Chartered Accountants of India. He is currently occupying the position of Deputy General Manager of Indian Bank. He has over 32 years of experience in various areas in the banking industry -
Co-Option of Directors
Shri A S Rajeev, Executive Director, Indian Bank has been co-opted as a Director on the Board with effect from 28th March 2016. Shri A S Rajeev, aged 51 is a Chartered Accountant with MBA and CAIIB qualifications. He is currently occupying the position of Executive Director of Indian Bank. He has over 25 years of experience in various areas in the banking industry. -
Co-Option of Directors
Shri S Krishnan, General Manager, Indian Bank has been co-opted as a Director on the Board with effect from 13th August 2015. Shri S Krishnan, aged 53 years holds a Post Graduate Degree in Commerce along with ICWA and CAIIB qualifications. He currently occupying the position of General Manager of Indian Bank. He has 32 years of experience in various areas in the banking industry. -
Co-Option of Directors
Shri V Gopal, General Manager, Indian Bank has been co-opted as a Director on the Board with effect from 13th August 2015. Shri V Gopal aged 55 holds a Graduate Degree in Science. He is currently occupying the position of General Manager of Indian Bank. He has 35 years of experience in various areas in the banking industry. -
Co-Option of Directors
Shri B Raj Kumar, Executive Director, Indian Bank, has been co-opted as a Director on the Board with effect from 29th June 2013. Shri B Raj Kumar, aged 57 years holds Post Graduate Degree in Engineering with MBA and CAIIB. He has more than 34 years of experience in various positions in the banking industry. -
Co-Option of Directors
Shri K Udaya Bhaskara Reddy, General Manager, Indian Bank, has been co-opted as a Director on the Board with effect from 9th August 2014. Shri K Udaya Bhaskara Reddy aged 54 holds a Post Graduate Degree in Agricultural Science and an MBA (Finance) with other qualifications. He is currently occupying the position of General Manager of Indian Bank. He has 30 years of experience in various areas in the banking industry. -
Co-Option of Directors
Smt Chitra Murali has been co-opted as a Director on the Board with effect from 20.11.2013. Smt Chitra Murali, aged 50 years holds Post Graduate Degree in Commerce with CISA (ISCA, USA), CIA and other qualifications. She served in Indian Audit and Accounts Department for 21 years. She has around 25 years of experience in the field of audit with hands on experience in various facets of audit including information System Audit and Internal Audit. -
Co-Option of Directors
Shri G R Sundaravadivel has been co-opted as a Director on the Board with effect from 20.11.2013. Shri G R Sundaravadivel, aged 72 years holds Post Graduate Degree in Commerce with B.G.L.and CAIIB. He has more than 37 years of experience in various positions in the banking industry. He is a retired General Manager of Indian Bank and retired Executive Director of United Bank of India. -
Co-Option of Directors
Shri Rajeev Rishi, Executive Director, Indian Bank, has been co-opted as an Additional Director/Chairman on the Board with effect from 13th June 2011. Shri V Rajeev Rishi aged 51 years, holds a Bachelors degree in Arts and LLB. He has more than 32 years of experience in various positions in the Banking industry. -
Co-option of Director
Shri N Easwaran, General Manager, Indian Bank, has been co-opted as an Additional Director on the Board with effect from April 30, 2011. -
Cooption of Directors
Shri R Ravi, General Manager, Indian Bank, has been co-opted as an Additional Director on the Board with effect from January 28, 2011 -
Cooption of Director
Shri P M Venkatasubramanian, retired Managing Director, General Insurance Company and Chairman, Royal Sundaram Alliance Insurance Company Ltd has been co-opted by the Company's Board as an Independent Non-Executive Director with effect from April 16, 2010. -
Cooption of Director
Shri P V Rajaraman, IAS(Retd) has been co-opted as an Independent Director Non-Executive Director on the Board with effect from July 15, 2009. -
Cooption of Director
Shri Anup Sankar Bhattacharya, Executive Director, Indian Bank, has been co-opted as an Additional Director/Chairman on the Board with effect from July 15, 2009. Shri P V Rajaraman, IAS(Retd) has been co-opted as an Independent Director on the Board with effect from July 15, 2009. -
Co-option of Directors
Shri. Sri Ramanan, M. Sc, CAIIB (Part I), General Manager, Indian Bank has been co-opted as Additional Director on our Board with effect from 16.04.2008. -
Co-option of Directors
Shri. A. Subramanian, Executive Director, Indian Bank has been co-opted as Additional Director on our Board with effect from 19.07.2007 in place of Shri. M. S. Sundara Rajan, Director who has vacated office as Director consequent to his appointment as Chairman & Managing Director, Indian Bank with effect from 04.06.2007. -
Co-Option of Directors
Shri T M Nagarajan, M.Com, CAIIB, Former Wholetime Member, SEBI, Former Joint Managing Director, IDBI and Former Chairman, Stock Holding Corporation of India Limited has been co-opted as an Additional Director on our Board with effect from 19.7.2006.
Shri V Ganesan, B.Sc, FCA, ACS, Deputy General Manager, Indian Bank nominated by Indian Bank for appointment as Director has been co-opted as an Additional Director on our Board with effect from 19.7.2006 in place of Shri T R Chandrasekaran, Director who has vacated office as Director consequent his retirement from the services of Indian Bank. -
Demise of Director
Shri. Sesha Sai P L V K, (DIN: 08192892), President and Whole Time Director of the Company passed away on 27.06.2020. His sudden and unexpected passing away will be an irreparable loss to the Company and all the directors and employees of the Company convey their deep sympathy, sorrow and condolences to his family. -
Resignation of Director
Shri K.Ramachandran, Non-Executive Director – Nominee of Indian Bank, DIN: 08589628, submitted his resignation from the directorship of the Company with effect from the closure of office hours of 30.06.2021, consequent to attaining superannuation on 30.06.2021. -
Resignation of Director
Shri.P.A.Krishnan, Non-Executive Nominee Director, DIN: 07891762, submitted his resignation from the directorship of the Company with effect from 12.06.2020, consequent to the nomination of Shri. Arun Kumar Bansal, General Manager / CFO of Indian Bank, in his place. The said resignation was taken on record by our Board of Directors vide resolution passed by circulation passed on 24.07.2020. -
Resignation of Director
Shri Shenoy Viswanath Vittal, Nominee Director submitted his resignation from the Directorship of the Company with effective from 16.04.2020 consequent to the nomination of Shri.K.Ramachandran, Executive Director of Indian Bank in his place. The same was taken on record by our Board of Directors in their meeting held on 11.06.2020. -
Resignation of Director
Shri A S Rajeev, Nominee Director submitted his resignation from the Directorship of the Company on 30.11.2018 consequent to his appointment as Managing Director and Chief Executive Officer of Bank of Maharashtra. The same was taken on record by our Board on 21.12.2018 through resolution passed by circulation. -
Resignation of Director
Shri V Gopal, Director submitted resignation as Director on our Board on 03.08.2016 consequent to nomination of Shri M Nagarajan, General Manager of Indian Bank in his place. The same was taken on record by our Board on 06.08.2016. -
Resignation of Director
Shri S Krishnan, Director submitted resignation as Director on our Board on 10.03.2016 consequent to nomination of Shri A S Rajeev, Executive Director of Indian Bank in his place. The same was taken on record by our Board on 28.03.2016 -
Appointment of Mr. A K Bajpai as President & Wholetime Director
Shri Ashwini Kumar Bajpai, Deputy General Manager, Indian Bank, has been appointed as President & Wholetime Director of the company from 04.01.2016 in place of Shri Banabihari Panda who has resigned as President & Wholetime Director consequent to his attaining superannuation. Shri Ashwini Kumar Bajpai aged 57 holds a Graduate Degree in Arts and CAIIB qualified. He is currently occupying the position of Deputy General Manager of Indian Bank. He has 32 years of experience in various areas in the banking industry. -
Appointment of Mr. Banabihari Panda as Appointment of Director
Shri Banabihari Panda, General Manager, Indian Bank has been appointed as the President & Wholetime Director of the company from 26.05.2011 in place of Shri G. Rangarajan who has resigned as Appointment of Director consequent to his repatriation to Indian Bank. Shri Banabihari Panda aged 55 is a B.A. (Hons), LLB, MA, MBA and holds diploma in International Banking & Finance, Certififed Treasury Manager Program, Diploma in Treasury, Investment and Risk Management and CAIIB qualifications. He is currently occupying the position of General Manager of Indian Bank. He has 34 years of experience in various areas in the banking industry. -
IDeAS Facility
Our company has subscribed to the IDeAS facility provided by NSDL. From now onwards IBMBS customers can gain access to IDeAS (Internet - based Demat Account Statement) offered by NSDL.
Just register by clicking the link : https:// speed-e.nsdl.com.
Print the Acknowledgement Form and submit to us to access IDeAS.
Use the services and save your time!!! -
SPEED-e Facility
Our company has subscribed to the SPEED-e facility provided by NSDL. From now, you can submit your Delivery Instructions online.
Just Register for SPEED-e through the link: https:// speed-e.nsdl.com.
Print the Acknowledgement Form, sign the same and submit to us to access SPEED-e
Use the services and save your time!!! -
Inauguration of Stock Broking Terminal at Mylapore
Indbank Merchant Banking Services Limited (Indbank) has opened a new Stock Broking Terminal at First Floor, Indian Bank Building, No: 21, North Mada Street, Mylapore, Chennai - 600 004 with effect from 27.04.2011 -
Shifting of Anna Nagar Terminal to more accessible location
With effect from 21.3.2011, the Anna Nagar Terminal attached to Chennai branch has been shifted to a more accessible location at Shop No.2, Sindoori Shoping Center, No.42, II Avenue, Anna Nagar West, Chennai - 600 040 -
Demat & Trading Account Campaign (DATA Campaign)
Free Demat & Trading Accounts
Concessional AMC for Demat Account
HURRY! Offer valid for a limited period only
Please visit our branch / terminal
Sharing your concern, Shaping your success
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Transfer of Indian Bank DP business to Indbank Merchant Banking Services Ltd
The Board of Directors have accorded approval for the proposal for the merger of Indian Bank DP with Company's DP in accordance with NSDL regulations. Indian Bank has accorded their approval for the proposal for transfer of Indian Bank Demat business to lndbank Merchant Banking Services Ltd in accordance with NSDL regulations. Indian Bank Demat accounts will be transferred to Indbank Merchant Banking Services Lid, after complying with the procedures and requirements in accordance with NSDL regulations. -
Franchisee at Mettupalayam
Mr. G Rangarajan, President & Wholetime Director inaugurated the franchisee of the company at Mettupalayam on 15.06.2010 -
Indbank convenes AGM on 28.07.2010
Indbank has convened the 21st Annual General Meeting of the company on 28.07.2010 at 3.00 p.m at Indian Bank Management Academy for Growth & Excellence (IMAGE), MRC Nagar, Raja Annamalaipuram, Chennai - 600 028 to approve accounts and to transact other business listed in the notice dated 28.04.2010 which has been posted to all the members. -
Commencement of operations at Tenkasi and Vijayawada Branches
Indbank Merchant Banking Services Limited has opened new branch offices at Tenkasi and Vijayawada. The new branches commenced operations on 21.05.2010 and 27.05.2010 respectively. -
Appointment of Mr. G Rangarajan as Appointment of Director
Shri G Rangarajan, Deputy General Manager, Indian Bank has been appointed as the President & Wholetime Director of the company from 28.04.2010 in place of Shri Pravinbhai Naranbhai Patel who has resigned as President & Wholetime Director consequent to his retirement from the services of Indian Bank. Mr. G Rangarajan aged 55 is a M. A. (Economics) and has P.G. Diploma in Portfolio Management, CAIIB, AIMA Diploma in Management qualifications. He is currently occupying the position of Deputy General Manager of Indian Bank. He has more than 30 years of experience in various areas in the banking industry and out of which he has 8 years of experience in Indbank Merchant Banking Services Limited. -
Un-audited Financial Results for the quarter ended 30.09.2009
The Board of Directors of Indbank has approved the Un-audited financial results upto the quarter ended 30.09.2009 at the Board meeting held on 27.10.2009. Indbank has made a Profit Before Tax of Rs.255.84 lakhs upto the quarter ended 30.09.2009 as against a Profit Before Tax of Rs.646.09 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.41.63 lakhs upto the quarter ended 30.09.2009 as against a Net Profit After Tax Rs.601.56 lakhs in the corresponding period of the previous year. -
Un-audited Financial Results for the quarter ended 30.06.2009
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.06.2009 at the Board meeting held on 25.07.2009. Indbank has made a Profit Before Tax of Rs.389.75 lakhs for the quarter ended 30.06.2009 as against a Profit Before tax of Rs.427.96 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.303.42 lakhs for the quarter ended 30.06.2009 as against a Net Profit after tax of Rs.301.72 lakhs in the corresponding period of the previous year. -
Cuddalore Branch Inauguration
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office at Cuddalore. The new branch was inaugurated on 14.08.2009 by Shri Anup Sankar Bhattacharya, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Shri. P. Mugundan, Executive Vice President & Company Secretary, Indbank, and Shri. M Senthil, Branch Head, Indbank, Cuddalore. -
Calicut Branch Inauguration
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office at Calicut. The new branch was inaugurated on 10.08.2009 by Shri R Radhakrishnan, General Manager & Circle Head, Indian Bank, Ernakulam in presence of Shri. P.N Patel President and Whole Time Director, Indbank, and Shri. R Sajeesh, Branch Head, Indbank, Calicut -
Indbank convenes AGM on 19.08.2009
Indbank has convened the 20th Annual General Meeting of the company on 19.08.2009 at 3.00 p.m at Indian Bank Management Academy for Growth & Excellence (IMAGE), MRC Nagar, Raja Annamalaipuram, Chennai - 600 028 to approve accounts and to transact other business listed in the notice dated 15.07.2009 which has been posted to all the members. -
Thanjavur Branch Inauguration
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office at Thanjavur. The new branch was inaugurated on 04.06.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, Smt K Malathy, Deputy General Manager, Indian Bank, Shri. P. Mugundan, Executive Vice President & Company Secretary, Indbank, and Shri. T Poovel, Branch Head, Indbank, Thanjavur. -
Promotion of Shri P Mugundan as Executive Vice President & Company Secretary
Shri P Mugundan, Vice President (Finance) & Company Secretary and Compliance Officer of the Company has been promoted as Executive Vice President & Company Secretary with effect from May 07, 2009. He will continue to be the Compliance Officer of the company -
Ernakulam Branch Inauguration
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Ernakulam. The new branch and indbankonline stock trading point, was inaugurated on 23.03.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri. R Radhakrishanan, Deputy General Manager & Circle Head, Indian Bank, Ernakulam, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank, and Shri. C.V. Rishikesh, Branch Head, Indbank, Ernakulam -
Vellore Branch Inauguration
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Vellore. The new branch and indbankonline stock trading point, was inaugurated on 30.03.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri. G.. Manoharan, Assistant General Manage & Circle Head, Indian Bank, Vellore, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank, Shri. J.K. Raja, Branch Head, Indbank, Vellore -
Inauguration of Mangalore Branch
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Mangalore. The new branch and indbankonline stock trading point, was inaugurated on 09.03.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, GN Hegde, Deputy General Manager & Circle Head, Indian Bank, Bangalore, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank, Shri. K.S Aswathnarayanan, Vice President, Indbank, Bangalore , and Shri. BP Sadasiva Pai, Branch Head, Indbank, Mangalore -
Inauguration of Salem Branch
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Salem. The new branch and indbankonline stock trading point, was inaugurated on 07.03.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri.. R. Mahadevan, Deputy General Manager & Circle Head, Indian Bank, Salem, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. Suresh, Branch Head, Indbank, Salem -
Inauguration of Tuticorin Branch
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Tuticorin. The new branch and indbankonline stock trading point was inaugurated on 24.02.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri M Kathiresan, Deputy General Manager & Circle Head, Indian Bank, Madurai, Shri D A Ulagan, Assistant General Manager & Circle Head, Indian Bank, Tirunelveli,, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. Ebinezar Samidurai, Branch Head, Indbank, Tuticorin -
Inauguration of Trichy and Pune Branches
Indbank Merchant Banking Services Limited (Indbank) has opened new branch offices and launched Indbankonline Stock Trading Points at Trichy and Pune. The new branches and indbanbkonline stock trading points at Trichy and Pune were inaugurated on 22.01.2009 and 24.01.2009 respectively.
Shri A Subramanian, Chairman, Indbank and Executive Director, Indian Bank inaugurated the Trichy branch in the presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri R.Ravi DGM and Circle Head, Indian Bank Trichy, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. S Raghunathan, Branch Head, Indbank, Trichy
Shri A Subramanian, Chairman, Indbank and Executive Director, Indian Bank inaugurated the Pune branch in the presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri Amresh Kumar AGM and Circle Head, Indian Bank Pune, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. Kishore Iyer, Branch Head, Indbank, Pune -
Financial Results announced on 07.05.2009
The Board of Directors of Indbank has approved the financial results for the year 2008-09 at the Board meeting held on 7.5.2009. Indbank has made a Loss Before Tax of Rs.33.23 lakhs in the year 2008-09 as against a profit before tax of Rs.3810.27 lakhs in the previous year. Indbank has made a Net Loss After Tax of Rs.722.61 lakhs in the year 2008-09 as against a net profit of Rs.3454.95 lakhs in the previous year. The Board of Directors has also recommended a dividend of Re.0.75 per equity share being 7.5% on the par value of Rs.10/- per share to be appropriated from the profits of the company absorbing Rs.332.84 lakhs, subject to the approval of shareholders in the ensuing Annual General Meeting.
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Un-audited Financial Results for the quarter ended 31.12.2008
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 31.12.2008 at the Board meeting held on 23.01.2009. Indbank has made a Profit Before Tax of Rs.546.96 lakhs upto the quarter ended 31.12.2008 as against Rs.3246.37 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.504.08 lakhs upto the quarter ended 31.12.2008 as against Rs.3003.24 lakhs in the corresponding period of the previous year. -
Appointment of Mr. Pravinbhai Naranbhai Patel as Appointment of Director
Shri Pravinbhai Naranbhai Patel, Deputy General Manager, Indian Bank has been appointed as the President & Wholetime Director of Indbank Merchant Banking Services Limited, a subsidiary of Indian Bank from 21.10.2008. Mr. Pravinbhai Naranbhai Patel aged 58 years is an M.Sc with DBIM, DEIM and CAIIB qualifications. He has more than 32 years of experience in various areas in the banking industry. -
Un-audited Financial Results for the quarter ended 30.09.2008
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.09.2008 at the Board meeting held on 21.10.2008. Indbank has made a Profit Before Tax of Rs.646.09 lakhs upto the quarter ended 30.09.2008 as against Rs.2191.78 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.601.56 lakhs upto the quarter ended 30.09.2008 as against Rs.1970.56 lakhs in the corresponding period of the previous year.
Indbank Merchant Banking Services Ltd (IBMBS) has performed well in the quarter ended 30.09.2008
Total income Rs.374.92 lakhs (Rs.482.54 lakhs in the corresponding quarter of the pervious year)
Profit Before Tax Rs.218.13 lakhs (Rs.316.69 lakhs in the corresponding quarter of the previous year)
Profit After Tax Rs.299.84 lakhs (Rs.284.43 lakhs in the corresponding quarter of the previous year)
EPS for the quarter Rs.0.68 (Rs.0.64 in the corresponding quarter of the previous year)
Cumulative income upto the quarter Rs.925.25 lakhs and cumulative profit after tax upto the quarter was Rs.601.56 lakhs.
EPS upto the quarter Rs.1.36
Market value of quoted investments (Cost Rs 15.81 Crore) stands at Rs. 24.31 Crore.
In the first half of 2008-09, IBMBS has established five exclusive CTCL Stock Trading Terminals and Online Stock Trading Points at CMDA-Egmore, Madkpakkam, Pollachi, Karikudi and Dindigul.
IBMBS has obtained approval of SEBI and NSE for undertaking derivatives trading and has commenced Derivatives Trading from September 2008.
IBMBS has obtained deposit based membership in BSE for undertaking BSE operations in Capital Markets and excepts to commence operations by middle of November 2009.
IBMBS has obtained NSE Listing and the shares were admitted for trading in NSE with effect from 8.10.2008. The company is now listed in BSE and NSE. -
Listing of Equity shares of Indbank Merchant Banking Services Limited with National Stock Exchange of India Ltd (NSE)
Indbank Merchant Banking Services Limited had applied to National Stock Exchange of India Ltd for listing of its Equity shares in NSE and the application was approved by them vide their letter dated 6.10.2008. 44378200 Equity Shares with a face value of Rs.10/- each of Indbank will be admitted to dealings on the National Stock Exchange of India with effect from 8.10.2008 with the symbol "INDBANK" -
Un-audited Financial Results for the quarter ended 30.06.2008
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.06.2008 at the Board meeting held on 29.07.2008. Indbank has made a Profit Before Tax of Rs.427.96 lakhs for the quarter ended 30.06.2008 as against Rs.1875.09 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.301.72 lakhs for the quarter ended 30.06.2008 as against Rs.1686.13 lakhs in the corresponding period of the previous year. -
Financial Results announced on 16.4.2008
The Board of Directors of Indbank has approved the financial results for the year 2007-08 at the Board meeting held on 16.4.2008. Indbank has made a Profit Before Tax of Rs. 3810.27 lakhs in the year 2007-08 as against Rs. 2142.05 lakhs in the previous year. Indbank has made a Net Profit After Tax of Rs. 3454.96 lakhs in the year 2007-08 as against Rs. 2117.17 lakhs in the previous year. -
Inauguration of Salem Branch
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Salem. The new branch and indbankonline stock trading point, was inaugurated on 07.03.2009 by Shri A Subramanian, Chairman, Indbank Merchant Banking Services Ltd. and Executive Director, Indian Bank in presence of Shri. P.N Patel President and Whole Time Director, Indbank, Shri.. R. Mahadevan, Deputy General Manager & Circle Head, Indian Bank, Salem, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. Suresh, Branch Head, Indbank, Salem -
Inauguration of Puducherry Branch and Launching of Indbankonline Stock Trading Point at Puducherry - 19.03.2008
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office and launched Indbankonline Stock Trading Point at Puducherry. The new branch and indbanbkonline stock trading point, the cyber based stock trading facility by a public sector company was inaugurated on 19.03.2008 by Thiru N. Rangasamy Honourable Chief Minister, Puducherry in the presence of Thiru R Siva, MLA, Orleanpeth Constituency & Thiru A Subramanian, Executive Director, Indian Bank and Shri. S. Annadurai, President and Whole Time Director, Indbank, Shri. M. Savarimuthu, General Manager & Circle Head, Indian Bank, Puducherry, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. P M Sukumar, Vice President, Indbank, Puducherry. Read More.. -
Inauguration of Stock Broking Terminal & Launching of Indbankonline Stock Trading Point at Anna Nagar, Chennai - 13.02.2008
Indbank Merchant Banking Services Limited (Indbank) has opened a new Stock Broking Terminal and launched Indbankonline stock trading point at Anna Nagar, Chennai. The new stock broking terminal and indbanbkonline stock trading point, the first cyber based stock trading facility by a public sector company, was inaugurated on 13.02.2008 by Shri.A. Subramanian, Executive Director, Indian Bank, in the presence of Shri. S.K. Bandyopadhyay , General Manager, Indian Bank, Shri. S. Annadurai, President and Whole Time Director, Indbank, and Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank. Read More.. -
Un-audited Financial Results for the quarter ended 31.12.2007
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 31.12.2007 at the Board meeting held on 29.01.2008. Indbank has made a Profit Before Tax of Rs.3246.37 lakhs upto the quarter ended 31.12.2007 as against Rs.791.51 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.3003.24 lakhs upto the quarter ended 31.12.2007 as against Rs.725.47 lakhs in the corresponding period of the previous year. -
Un-audited Financial Results for the quarter ended 30.09.2007
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.09.2007 at the Board meeting held on 27.10.2007. Indbank has made a Profit Before Tax of Rs.2191.78 lakhs upto the quarter ended 30.09.2007 as against Rs.242.75 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.1970.56 lakhs upto the quarter ended 30.09.2007 as against Rs.177.42 lakhs in the corresponding period of the previous year. -
Inauguration of Indbank's Hyderabad Branch - 28.08.2007
Indbank has opened a new branch office at Hyderabad. The branch was inaugurated on 28.08.2007 by Shri. Vepa Kamesam, Managing Director, Institute of Insurance & Risk Management, Hyderabad, Ex-Deputy Governor, RBI, Ex-Managing Director, SBI in the presence of Shri. A. Subramanian, Executive Director, Indian Bank, Shri. S. Annadurai, President and Wholetime Director, Indbank, Shri. Mohammed Najamuddin, Deputy General Manager & Circle Head, Indian Bank, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. K Sridhar, Vice President, Indbank, Hyderabad. Read More.. -
Indbank convenes AGM on 18.08.2007
Indbank has convened the 18th Annual General Meeting of the company on 18.08.2007 at 11.00a.m at Indian Bank Management Academy for Growth & Excellence (IMAGE), MRC Nagar, Raja Annamalaipuram, Chennai � 600 028 to approve accounts and to transact other business listed in the notice dated 19.07.2007 which has been posted to all the members.
Pursuant to Section 154 of the Companies Act 1956, the Register of Members and Share Transfer books of the company will remain closed from 14.08.2007 to 18.08.2007 (both days inclusive) -
Un-audited Financial Results for the quarter ended 30.06.2007
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.06.2007 at the Board meeting held on 19.07.2007. Indbank has made a Profit Before Tax of Rs. 1875.09 lakhs in the quarter ended 30.06.2007 as against Rs. 108.96 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.1686.13 lakhs in the quarter ended 30.06.2007 as against Rs.102.63 lakhs in the corresponding period of the previous year. -
Highlights of Performance for the year 2006-07
Indbank Merchant Banking Services Limited (Indbank), the Chennai based Merchant Banking Subsidiary of Indian Bank, has posted a hefty profit of Rs.21.17 crore for the year ended March 2007 as against Rs.2.04 crore for the corresponding period of last year, an increase of 936.50%. Read More... -
Inauguration of Indbank's Madurai Branch - 16.03.2007
Indbank Merchant Banking Services Limited (Indbank) has opened a new branch office at Madurai. The branch was inaugurated on 16.03.2007 by Shri. M. S. Sundara Rajan, Executive Director, Indian Bank, in the presence of Shri. S. Annadurai, President and Whole Time Director, Indbank, Shri. P. Arivanandam, Deputy General Manager, Indian Bank, Madurai Circle, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. B. Sai Prakash, Branch Head, Indbank, Madurai.Read More... -
Receipt of the order of the Court according their confirmation for the reduction of share premium account and forfeited shares account for reducing the accumulated losses.
The High Court vide their order dated 16.2.2007 accorded their confirmation for the reduction of share premium account from Rs.666070000 to Rs.Nil , forfeited shares account from Rs.159000 to Rs.Nil and to effect such reduction by adjusting the debit balance in the Profit & Loss account and reducing the same by Rs.666229000.
Accordingly the debit balance in the Profit & Loss account of Rs.956830964 as on 31.3.2006 would stand reduced to Rs.290601964 on giving effect to the order. -
Inauguration of Indbank's Tirunelveli branch - 16.02.2007
Indbank has opened a new branch office at Tirunelveli. The branch was inaugurated on 16.02.2007 by Dr. Sivanthi Adityan, Director, Daily Thanthi in the presence of Shri. M. S. Sundara Rajan, Executive Director, Indian Bank, Shri. S. Annadurai, President and Whole Time Director, Indbank, Shri. P. Mugundan, Vice President (Finance) & Company Secretary, Indbank and Shri. A. B. Mohan, Vice President, Indbank, Tirunelveli. Read More... -
Performance for the quarter ended 31.12.2006
During the quarter ended 31.12.2006 Indbank Merchant Banking Services Limited (Indbank) has earned a gross income of Rs.655.43 lakhs as against Rs.194.22 lakhs in the corresponding quarter of the previous year Cumulatively Indbank has earned a gross income of Rs.1036.31 lakhs upto the quarter ended 31.12.2006 in the current financial year 2006 � 07 as against Rs.519.57 lakhs in the corresponding period of the previous year.
Indbank has earned a profit before tax of Rs.548.76 lakhs in the quarter ended 31.12.2006 as against Rs.81.34 lakhs in the corresponding quarter of the previous year. Cumulatively Indbank has earned a profit before tax of Rs.791.51 lakhs upto the quarter ended 31.12.2006 in the current financial year 2006 � 07 as against Rs.199.26 lakhs in the corresponding period of the previous year.
Indbank has earned a profit after tax of Rs.548.05 lakhs in the quarter ended 31.12.2006 as against Rs.38.97 lakhs in the corresponding quarter of the previous year. Cumulatively Indbank has earned a profit after tax of Rs.725.47 lakhs upto the quarter ended 31.12.2006 in the current financial year 2006 � 07 as against Rs.69.69 lakhs in the corresponding period of the previous year.
The earnings per share for the quarter ended 31.12.2006 was Rs.1.23 per share as against Rs.0.09 per share in the corresponding quarter of the previous year. The cumulative earnings per share upto the quarter ended 31.12.2006 was Rs.1.63 per share as against Rs.0.16 per share in the corresponding period of the previous year. The market value of quoted investments (cost - Rs.15.18 crore) of the company as on 31.12.2006 was Rs.71.72 crore.
Indbank is a subsidiary of Indian Bank engaged in Merchant Banking, Stock broking, Depository Participant and allied activities. Indbank is registered with SEBI as a Merchant Banker. Indbank is a member of National Stock Exchange, Madras Stock Exchange and OTCEI and is also registered with NSDL as a Depository Participant. Indbank is also registered with Association of Mutual Funds of India (AMFI) for distribution of Mutual fund products as part of its broking business. Indbank has its Registered office at Chennai. Indbank has branches at Chennai, Mumbai, New Delhi, Bangalore, Coimbatore and Ahmedabad.
Indbank has a mix of institutional and individual clients and have achieved a stock broking turnover of Rs. 1336 crores upto the quarter ended 31.12.2006 in the current financial year 2006 � 07 as against Rs. 1098 crores in the corresponding period of the previous year.
Indbank proposes to increase its operations under fee-based business by entering, Futures and Options segment of NSE, Portfolio Management Services and by establishing branch offices at Kolkatta, Hyderabad, Baroda, Pondicherry, Madurai and Tirunelveli in the year 2006 � 07 increasing the network of branches to 12 from the current level of 6. Indbank also plans to expand further by establishing 6 more branches in 2007 � 08 which will increase the total number of branches to 18.
During the centenary year of the parent Bank, Indbank has launched IndbankOnline, the online trading portal system that enables the customers to carry on dealings in stocks and shares from anywhere. Indbank has entered into an agreement with Indian Bank for the provision of Online trading facilities to the customers of Indian Bank. For availing this facility the customer has to open a net banking account and demat account with Indian Bank and online trading account with Indbank. This would enable the customer to trade from anywhere under the internet based trading system. This will benefit all customers having account with CBS branches of Indian Bank for undertaking stock market operations.
Indian Bank is proposing, subject to market conditions and other considerations, a Public Issue of its Equity Shares and has filed a Red Herring Prospectus with SEBI. The Red Herring Prospectus is available on the respective websites of the BRLMs at www.sbicaps.com, www.enam.com, www.icicisecurities.com & www.kotak.com.
Place: Chennai
Dated: 27.01.200 -
Launching of IndbankOnline � the online trading portal of Indbank Merchant Banking Services Limited
During the centenary year of the parent Bank, Indbank Merchant Banking Services Limited, subsidiary of Indian Bank has launched IndbankOnline, the online trading portal system that enables the customers to carry on dealings in stocks and shares from anywhere.
The IndbankOnline, the trading portal was launched on 10.01.2007 by Dr.K.C. Chakrabarty, Chairman and Managing Director of Indian Bank in the presence of Shri. M. S. Sundara Rajan, Executive Director, Indian Bank, Dr. Raja J. Chelliah, Eminent Economist, Chairman Emeritus, Madras School of Economics and Director of Indbank Merchant Banking Services Limited, Shri. T. M. Nagarajan, Former Wholetime Member, Securities and Exchange Board of India and Director, Indbank Merchant Banking Services Limited, Shri. S. Annadurai, President and Whole Time Director, Indbank Merchant Banking Services Limited, Senior Executives of Indian Bank and host of other Dignitaries.Indbank undertakes:
Merchant Banking & Advisory Services registered with SEBI as a Merchant Banker
Stock Broking services registered with SEBI as member of National Stock Exchange of India Ltd (NSE)
Demat services registered with SEBI as Depository Participant with National Securities Depository Limited (NSDL)
Distribution of Mutual Fund & Investment Products registered with the Association of Mutual Funds of India (AMFI). Indbank Merchant Banking Services Limited has offices at Chennai, Mumbai, Delhi, Bangalore, Coimbatore, and Ahmedabad. Indbank proposes to increase its operations under fee-based business by entering, Futures and Options segment of NSE, Portfolio Management Services and by establishing branch offices at Kolkatta, Hyderabad, Baroda, Pondicherry, Madurai and Tirunelveli in the year 2006 � 07 increasing the network of branches to 12 from the current level of 6. Indbank also plans to expand further by establishing 6 more branches in 2007 � 08 which will increase the total number of branches to 18.
Indbank Merchant Banking Services Limited has entered into an agreement with Indian Bank for the provision of Online trading facilities to the customers of Indian Bank. For availing this facility the customer has to open a net banking account and demat account with Indian Bank and online trading account with Indbank Merchant Banking Services Limited. This would enable the customer to trade from anywhere under the internet based trading system. This will benefit all customers having account with CBS branches of Indian Bank for undertaking stock market operations.
Along with launching of IndbankOnline, Dr. K. C. Chakrabarty CMD of Indian Bank also inaugurated the new premises of Indbank Merchant Banking Services Limited at I Floor, Khivraj Complex I, 480, Anna Salai, Nandanam, Chennai � 600 035.
Indian Bank is proposing subject to market conditions and other considerations a Public Issue of its Equity Shares and has filed a Draft Red Herring Prospectus with SEBI. The Draft Red Herring Prospectus is available on the Website of SEBI at www.sebi.gov.in and all respective websites of the BRLMs at www.sbicaps.com, www.enam.com, www.icicisecurities.com & www.kotak.com. -
Indbank has moved its Registered Office and Chennai operations
Indbank has moved its Registered Office and Chennai operations to a spacious premises with effect from 02nd December 2006 at I Floor, Khivraj Complex I, 480, Anna Salai, Nandanam, Chennai � 600 035 Our contact numbers are: Dealing Room � Dealer 1 24313090 Dealing Room � Dealer 2 24313091 DP � Direct Number 24313092 Fax 24313093 General Numbers 24313094 to 97 E-mail ID indbank@indbankonline.com , chennai@indbankonline.com -
Un-audited Financial Results announced on 27.10.2006
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.9.2006 at the Board meeting held on 27.10.2006. Indbank has made a Profit Before Tax of Rs. 133.79 lakhs in the quarter ended 30.9.2006 as against Rs. 74.41 lakhs in the corresponding period of the previous year. Cumulatively, Indbank has made a Profit Before Tax of Rs. 242.75 lakhs upto the quarter ended 30.9.2006 as against Rs. 116.91 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.74.89 lakhs in the quarter ended 30.9.2006 as against Rs.22.18 lakhs in the corresponding period of the previous year. Cumulatively, Indbank has made a Net Profit After Tax of Rs.177.42 lakhs upto the quarter ended 30.9.2006 as against Rs.30.72 lakhs in the corresponding period of the previous year. -
Un-audited Financial Results announced on 19.7.2006
The Board of Directors of Indbank has approved the Un-audited financial results for the quarter ended 30.6.2006 at the Board meeting held on 19.7.2006. Indbank has made a Profit Before Tax of Rs.108.96 lakhs in the quarter ended 30.6.2006 as against Rs.42.50 lakhs in the corresponding period of the previous year. Indbank has made a Net Profit After Tax of Rs.102.53 lakhs in the quarter ended 30.6.2006 as against Rs.8.54 lakhs in the corresponding period of the previous year. -
Financial Results announced on 27.4.2006
The Board of Directors of Indbank has approved the financial results for the year 2005-06 at the Board meeting held on 27.4.2006. Indbank has made a Profit Before Tax of Rs.349.30 lakhs in the year 2005-06 as against Rs.305.63 lakhs in the previous year. Indbank has made a Net Profit After Tax of Rs.204.26 lakhs in the year 2005-06 as against Rs.156.74 lakhs in the previous year. -
Reduction and adjustment of Securities Premium and forfeited Shares
The Board of Directors of Indbank at its meeting held on 27.4.2006 has passed the resolution for reduction and adjustment of the Securities Premium of the company amounting to Rs.66,60,70,000 and forfeited shares account of Rs.1, 59,000 aggregating Rs.66,62,29,000 against the debit balance in the Profit & Loss account as on March 31, 2005 of Rs.97, 72,57,065 reducing the same by Rs.66, 62,29,000, subject to the consent of the shareholders at the ensuing Annual General Meeting of the company, the confirmation of the High Court at Chennai and other appropriate authorities in this regard. -
Indbank convenes AGM on 24.6.2006
Indbank has convened the 17th Annual General Meeting of the company on 24.6.2006 at 11.00 a.m. at Indian Bank Management Academy for Growth & Excellence (IMAGE), MRC Nagar, Raja Annamalaipuram, Chennai 600 028 to approve accounts and to transact other business listed in the Notice dated 27.04.2006 which has been posted to all the members.
Pursuant to Section 154 of the Companies Act 1956, the Register of Members and Share Transfer Books of the company will remain closed from 16.06.2006 to 24.06.2006 (both days inclusive).