Indian Bank to open 100 new branches, recruit 2,500 employees
What's the story
Indian Bank plans to expand its operations by opening around 100 new branches in the current fiscal year, according to PTI. The expansion will mainly focus on the Central and Western regions of India. The bank also plans to recruit around 2,500 employees as part of this growth strategy and to replace those retiring from service.
Growth strategy
Current branch network of the bank
As of June 30, 2026, Indian Bank had a total of 6,003 domestic branches and three international ones in Singapore, Colombo, and Jaffna. The bank also has an IFSC Banking Unit (IBU) at Gandhinagar.
After merging with Allahabad Bank in 2020, the seventh-largest public sector bank expanded its footprint in Eastern India and Uttar Pradesh.
Now it is looking to strengthen its presence further in Central and Western India.
Workforce expansion
Targeting gross NPAs at 1.5-1.6% by March-end next year
Indian Bank's MD and CEO Binod Kumar has said that the bank will recruit around 2,500 employees this fiscal year. This includes specialist officers as well.
As of June 30, 2026, the bank had a total workforce of 41,875.
On asset quality management, Kumar said they have been doing it quite well with an aim to reduce gross NPAs to 1.5-1.6% of total advances by March-end next year.
Loan strategy
Gold loan portfolio to exceed ₹1.5 lakh crore this fiscal
Kumar also revealed that Indian Bank expects its gold loan portfolio to exceed ₹1.5 lakh crore this fiscal year, driven by demand.
The bank's current gold loan portfolio stands at around ₹1.25 lakh crore and is expected to cross the ₹1.5 lakh crore mark during the financial year at an anticipated growth rate of about 20%.