MoneyWorks4Me

Indian Bank planning to raise Rs 1,200 crore to support growth plan

24 Jul 2017 Evaluate

Indian Bank is planning to raise around Rs 1,200 crore to support its growth plan. The bank is also planning to sell assets worth Rs 540 crore to asset reconstruction companies (ARCs). Moreover, the bank has set a target of around Rs 3.6 lakh crore business for the FY18.

Besides, the bank has also set a target of 3 per cent net interest margin (NIM), which will be aided by retail, agriculture, corporate and MSME (micro, small and medium enterprise) and clients.

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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