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Indian Bank rolls out two mobile branches for slum dwellers

14 Jul 2014 Evaluate

Indian Bank, a public sector lender, has rolled out two mobile branches/vans with ATM facility, for providing banking services to urban populace residing in the slum areas of Royapuram, Tiruvotriyur, Tondiarpet in North Chennai and Kannagi Nagar, Thanthai Periyar Nagar and Semmencherry in South Chennai. The bank has started these new branches under its Urban Financial Inclusion initiatives.

The bank has posted a fall of 7.13% in its net profit at Rs 271.28 crore for the quarter ended March 31, 2014 as compared to Rs 292.12 crore for the same quarter in the previous year.  However, total income of the bank has increased by 5.27% at Rs 4234.83 crore for quarter under review as compared to Rs 4022.46 crore for the quarter ended March 31, 2013.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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