Indian Bank Targets 15% Growth in Mid-Corporate Business for FY25

Indian Bank, a prominent public sector bank, is set to focus on expanding its mid-corporate business segment with a targeted growth of 15% in the fiscal year 2024-25 (FY25). 

The bank’s mid-corporate portfolio reached Rs 41,000 crore by the end of FY24, a significant increase from Rs 33,661 crore in FY23. S L Jain, MD & CEO of Indian Bank, stated that the bank ventured into the mid-corporate business vertical in 2020-21 and is committed to further growth. 

“We are aiming for at least a 15% expansion in this segment in the current fiscal year. Additionally, we plan to establish 4-5 new branches in industrial cities dedicated to the mid-corporate vertical,” Jain announced during a press briefing. 

Indian Bank currently operates 27 mid-corporate business branches across the country, including locations like Namakkal and Rajkot. The bank’s mid-corporate portfolio caters to businesses with loan requirements ranging from Rs 25 crore to 100 crore. 

In addition to the mid-corporate focus, Indian Bank is also enhancing its digital footprint. The bank aims to achieve a total digital business volume of Rs 1 lakh crore by the end of FY25, up from Rs 81,000 crore recorded as of March 31, 2024. 

These strategic initiatives reflect Indian Bank’s commitment to driving growth and innovation in key business segments while leveraging digital technologies to enhance customer experience and operational efficiency. 

As Indian Bank continues to expand its mid-corporate presence and strengthen its digital capabilities, stakeholders anticipate positive outcomes and contributions to the bank’s overall performance in the upcoming fiscal year.