Indian Bank, a public sector lender, has opened its new branch in Pon Nagar, namakkal in the state of Tamil Nadu. Meanwhile, the bank has set a target of Rs 3 lakh crore business in the current financial year as compared to Rs 2.86 lakh crore during last fiscal.
The bank’s net profit for the quarter declined by 34.73% at Rs 207.16 crore as compared to Rs 317.39 crore for the quarter ended June 30, 2013. Its total income has decreased marginally by 1.23% to Rs 4144.01 crore for the quarter under review from Rs 4195.48 crore for the corresponding quarter of the previous year.