Indian Bank to give 66 Percent Dividend to its shareholders

Public sector Indian Bank has decided to provide 66 percent dividend to its shareholders for the past 2012-13 financial year, the Bank's Chairman and Managing Director Mr.D.M. Bhasin said. Last fiscal year, the Bank's total business increased to 2,49,136 crore rupees. This is 17.52 percent more than the previous year. However due to pension, gratuity, employees pay the bank's operating profit decreased from 3.463 million to 3.061 million rupees. Due to this bank's net profit also decreased from 1.747 million to 1.581 million. Last fiscal year, the Bank newly-launched 143 branches and the bank's total number of branches has risen to 2081. Apart from these it has also opened branches in Singapore and in Sri Lanka it has opened in Colombo and in Yazhalpanam. Last fiscal year the bank's total outstanding debt is 3.33 percent, and net outstanding loans is 2.26 percent, Mr.Bhasin added.