Indian Bank pays Rs 165.62 cr as dividend to govt

Indian Bank Managing Director and CEO (Additional Charge), Mahesh Kumar Jain presented the cheque to Finance Minister Arun Jaitley in New Delhi, the Chennai-based bank said in a statement.

Chennai: Public sector Indian Bank has paid a dividend of Rs 165.62 crore for the financial year 2014-15 to the Government.

Indian Bank Managing Director and CEO (Additional Charge), Mahesh Kumar Jain presented the cheque to Finance Minister Arun Jaitley in New Delhi, the Chennai-based bank said in a statement.

The Centre holds 82.10 per cent in the bank's equity share capital.

Last week, Indian Bank had reported a 4 per cent increase in its net profit at Rs 215.28 crore for the first quarter ended June 30.

The bank's net profit in the corresponding quarter of previous fiscal stood at Rs 207.16 crore.
As on June 30, 2015 the bank's total business crossed Rs 3 lakh crore (Rs 3,00,436 crore) while capital position was at Rs 11,743 crore.

The Capital Adequacy Ratio as per Basel III norms was at 12.12 per cent for the quarter ending June 30, 2015, it said.

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