Indian Bank Plans 100 New Branches In FY27, To Hire Around 2,500 Employees
Chennai: Indian Bank plans to open around 100 branches and add about 2,500 employees during FY27 as the public sector lender expands its footprint and manages growing business requirements. The expansion will primarily focus on Central and Western India, where the bank is looking to strengthen its presence. 100 New Branches Planned Indian Bank MD and CEO Binod Kumar said the lender opened 100…
Indian Bank has announced plans to open 100 new branches and hire approximately 2,500 employees in the fiscal year 2027 as part of its strategy to expand its reach and manage increasing business demands. The majority of the new branches will be established in Central and Western India, where the bank aims to solidify its presence in these regions.
Binod Kumar, Indian Bank's Managing Director and Chief Executive Officer, revealed that the bank opened 100 branches last year and intends to continue this expansion in the current financial year. The bank celebrated its foundation day by inaugurating 15 branches across India on August 15, 2026. As of June 30, 2026, Indian Bank operated a total of 6,003 domestic branches, in addition to overseas branches in Singapore, Colombo, Jaffna, and an IFSC Banking Unit in Gandhinagar.
Following the merger of Allahabad Bank in 2020, Indian Bank has bolstered its presence in Eastern India and Uttar Pradesh. The bank is now shifting its focus towards Central and Western markets. To meet the rising business requirements and replace retiring employees, the bank plans to increase its workforce by around 2,500 employees in FY27, including specialist officers. As of June 30, 2026, Indian Bank had a workforce of 41,875 employees.
In addition to the expansion, Indian Bank aims to improve its asset quality by targeting to reduce gross non-performing assets to 1.5-1.6 percent of advances and net NPAs to 0.15-0.2 percent by the end of FY27. The bank also plans to sell Rs. 200 crore of bad loans to an asset reconstruction company during the fiscal year.
Indian Bank expects its gold loan portfolio to surpass Rs. 1.5 lakh crore in FY27, up from around Rs. 1.25 lakh crore currently. Kumar anticipates a 20 percent growth in the gold loan segment, primarily driven by rising gold prices. The bank's gold loan portfolio has grown by around 30 percent last year, fueled by increasing gold prices.
The lender intends to maintain a balance between Retail, Agriculture, and Micro, Small, and Medium Enterprises (MSME) loans, with agriculture and MSME loans contributing significantly to the overall loan book, which currently stands at 65 percent, while corporate loans account for the remaining 35 percent.
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