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 branches last year and plans a similar expansion this financial year.

The bank inaugurated 15 branches across India on August 15, its foundation day.

As of June 30, 2026, Indian Bank operated 6,003 domestic branches. It also had overseas branches in Singapore, Colombo and Jaffna, besides an IFSC Banking Unit in Gandhinagar.

Following the amalgamation of Allahabad Bank in 2020, Indian Bank strengthened its presence in eastern India and Uttar Pradesh. It is now focusing on Central and Western markets.

Headcount To Rise By 2,500

The lender plans to increase its workforce by around 2,500 employees during FY27, including specialist officers.

The recruitment will help meet growing business requirements and replace retiring employees. Indian Bank had 41,875 employees as of June 30.

The bank is also targeting further improvement in asset quality.

It aims to reduce gross non-performing assets to 1.5-1.6 per cent of advances and net NPAs to 0.15-0.2 per cent by the end of FY27.

Indian Bank also plans to sell ₹200 crore of bad loans to an asset reconstruction company during the year.

Gold Loans Seen Crossing ₹1.5 Lakh Crore

The bank expects its gold loan portfolio to cross ₹1.5 lakh crore in FY27 from around ₹1.25 lakh crore currently.

Kumar expects the segment to grow about 20 per cent, largely driven by higher tonnage.

Gold loans grew around 30 per cent last year, supported by rising gold prices.

Retail, Agriculture and MSME (RAM) loans currently account for 65 per cent of Indian Bank’s overall loan book, while corporate loans contribute the remaining 35 per cent.

The lender intends to maintain this mix, with agriculture and MSMEs offering significant growth opportunities.