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Indian Bank Gets Nod For Proposed Scheme Of Amalgamation (03-Feb-2012)

Indian-Commodity  :  Company-Reports  :  Indian Bank Gets Nod For Proposed Scheme Of Amalgamation
Indian Bank Gets Nod For Proposed Scheme Of Amalgamation
Indian Bank has received an approval for the proposed scheme of amalgamation of Indfund Management, a wholly owned subsidiary of the bank with Indian Bank.

Indian Bank is a mid-sized government bank with over 1,860 branches across India, one branch in Singapore and two in Sri Lanka. It has a particularly strong presence in Tamil Nadu.

The bank's net profit for the quarter has moderately rose by 7.05% at Rs 525.93 crore as compared to Rs 491.29 crore for the December quarter of the previous fiscal. The bank's total income has increased by 32.75% at Rs 3,505.26 crore for the quarter under review from Rs 2,640.58 crore for the December quarter of the previous fiscal.
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