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Indian Bank plans to raise Rs 5000 crore via long term bonds

Indian Bank is planning to issue long term bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs 5000 crore. The board of directors of the bank in their meeting, scheduled to be held on May 5, 2017, will consider the same.

The Bank has posted over 3-fold jump in its net profit at Rs 319.70 crore for the quarter ended March 31, 2017 as compared to Rs 93.62 crore for the same quarter in the previous year. Total income of the Bank has increased marginally by 1.75% at Rs 4601.89 crore for quarter under review as compared to Rs 4522.73 crore for the quarter ended March 31, 2016.

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