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Indian Bank will open 100 new branches, 2500 people will get jobs
Indian Bank has major expansion plans for the current financial year. It is preparing to open approximately 100 new branches, which will provide employment for approximately 2,500 people. Significantly, the bank is now looking to expand its presence in the central and western parts of the country.
Indian Bank: In the age of digital banking, where customers are becoming accustomed to accessing banking services through mobile phones, Indian Bank has placed a major bet on expanding its physical branches. This public sector bank is preparing to open approximately 100 new branches in the current financial year. Additionally, it will recruit approximately 2,500 people to expand its business and replace retiring employees.
But the most significant aspect of this expansion isn’t just the number of branches. Indian Bank is now looking to rapidly expand its business reach in central and western India. This means that the next phase of the bank’s expansion strategy will focus on markets where it has the potential to further strengthen its presence.
Preparations to open 100 new branches
Indian Bank Managing Director and Chief Executive Officer Vinod Kumar stated that the bank opened approximately 100 branches last year and plans to open the same number this fiscal year. Fifteen new branches were inaugurated across the country on August 15th, the bank’s foundation day. As of June 30, 2026, Indian Bank had 6,003 domestic branches in the country. Additionally, it had three overseas branches in Singapore, Colombo, and Jaffna, and an International Financial Services Centre banking unit in Gandhinagar.
Why the focus on Central and Western India now?
Indian Bank significantly strengthened its presence in Eastern India and Uttar Pradesh after merging with Allahabad Bank in 2020. Now, Central and Western India are the next phase of the bank’s strategy. According to the bank’s head, the focus is on expanding its presence in these regions. This means that in the future, the bank will expand its reach to retail customers, small businesses, and local businesses through new branches in these markets. The bank’s total employee strength as of June 30, 2026, was 41,875. Consequently, the new hires represent an increase of approximately 6% over the bank’s existing headcount.
Despite digital banking, why is there so much emphasis on branches?
A large portion of banking is now conducted through mobile apps and the internet. Despite this, Indian Bank is expanding its branch network. This is because not every customer and every banking need is digital. The local branch still plays a crucial role, especially for agricultural, small business, micro and small enterprises, and rural customers. Retail, agriculture, and MSMEs account for approximately 65% of Indian Bank’s total loan business, while corporate loans account for approximately 35%. The bank aims to maintain this ratio going forward.
A Big Bet on Small Business and MSMEs
The bank believes there is significant room for expansion in the retail, agricultural, and MSME sectors. Therefore, with new branches, the bank does not want to limit itself to providing savings accounts and general banking services. It is also focusing on providing loans to customers with high potential for business and income growth. The bank, in particular, sees agriculture and small businesses as a major driver of future growth.
Big Targets for Gold Loans
Gold loans, or loans against gold, are also a key part of Indian Bank’s expansion strategy. Currently, the bank’s gold loan business is approximately ₹1.25 lakh crore. The bank expects this to increase to over ₹1.5 lakh crore in the current financial year. According to the bank, the gold loan business could grow by approximately 20% this year.
Benefits from Gold Prices, Now Focus on Increasing Volumes
Indian Bank’s gold loan business grew by approximately 30% last financial year. According to the bank, the rise in gold prices at that time helped boost this business. Despite the lack of gold prices this year, the bank expects growth in gold loan business. Growth is now being driven not just by gold prices, but by gold loan volume, meaning more customers and more loans.
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