Noida, Aug 31 (APAC Media): Indian Bank is planning to add around 100 branches and recruit nearly 2,500 employees in FY27 as the state-owned lender seeks to strengthen its presence in central and western India, MD and CEO Binod Kumar said.
The bank, which opened 100 branches last year, has similar expansion plans for FY27.
“Last year we opened 100 branches. This year, too, we have similar plans. Just on August 15, which was our foundation day, the bank inaugurated 15 branches across the country,” Kumar told News Agency.
As of June 30, 2026, Indian Bank had 6,003 domestic branches and three overseas branches in Singapore, Colombo and Jaffna. It also operates an IFSC banking unit at Gandhinagar.
The lender had strengthened its presence in eastern India and Uttar Pradesh following the amalgamation of Allahabad Bank in 2020 and is now seeking to increase its footprint in central and western India.
“Now we are trying to increase our presence in the Central and Western parts of the country,” Kumar said.
Bank to add 2,500 employees
Indian Bank plans to increase its workforce by around 2,500 during FY27, including specialist officers, to support business growth and replace retiring employees.
The bank had 41,875 employees as of June 30, 2026.
On asset quality, Kumar said the bank was managing it well and aims to bring down gross non-performing assets to 1.5-1.6 per cent of total advances and net NPAs to 0.15-0.2 per cent by the end of the financial year.
The bank also plans to sell bad loans worth around Rs 200 crore to an asset reconstruction company during FY27.
Gold loan portfolio seen crossing Rs 1.5 lakh crore
Indian Bank expects its gold loan portfolio to cross Rs 1.5 lakh crore during the current financial year, supported by continued demand.
The gold loan book currently stands at around Rs 1.25 lakh crore and is expected to grow by about 20 per cent, Kumar said.
“A gold loan is safe lending for banks…it is not a consumption loan, but mostly it is income-generating and also helps small businesses to grow,” he said.
The lender had witnessed around 30 per cent growth in its gold loan portfolio last year, partly driven by a rise in gold prices. Growth this year is expected to be led more by an increase in the quantity of gold pledged, Kumar said.
The bank intends to maintain a focus on retail, agriculture, and MSMEs.
Retail, agriculture and MSME loans account for around 65 per cent of Indian Bank’s overall loan book, while corporate loans constitute the remaining 35 per cent.
The bank intends to maintain this mix, with agriculture and MSMEs offering significant opportunities for further growth, Kumar said.
Indian Bank’s FY27 strategy, therefore, combines branch expansion and recruitment with a focus on asset quality and growth in retail, agriculture, MSME and gold lending segments.
–ENDS–
Disclaimer:Â This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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