CHENNAI: Indian Bank has declared a dividend of 30 per cent including a special dividend of 10 per cent for the centenary year for the year ended March 31, 2007. K. C. Chakrabarty, Chairman and Managing Director, has indicated in a release, that the bank recorded a net profit of Rs. 759.77 crore for 2006-07, a growth of 50.6 per cent over Rs. 504.48 crore for 2005-06.

The operating profit crossed the Rs. 1,000 crore mark and increased by 52.03 per cent to Rs. 1,358.59 crore against Rs. 893.65 crore for 2005-06.

Total income for the year crossed the Rs. 5,000 crore mark and rose to Rs. 5,017.86 crore, a growth of 31.09 per cent over Rs. 3,827.75 crore. The earnings per share have risen to Rs. 20.46 from Rs. 14.67.

Interest income increased by 27.35 per cent. Net interest margin increased to 3.75 per cent from 3.62 per cent.

The capital adequacy has improved to 14.14 from 13.19. The bank came out with an initial public offer in February 2007.

The overall business stood at Rs. 76,149 crore against Rs. 63.290 crore, a growth of 20.32 per cent.

Total deposits grew by Rs. 6,286 crore to Rs. 47,091 crore. The return on assets has improved to 1.46 per cent from Rs. 1.16 per cent. Gross priority sector lending increased by Rs. 2,797 crore to Rs.13,472 crore. The bank has focused on the SME sector and registered a growth rate of 22.88 per cent with outstanding credit of Rs. 5,355.60 crore.

The bank has disbursed Rs. 503 crore as credit assistance to 61,469 SHGs (self-help groups) during 2006-07 representing 28.09 per cent increase over the previous fiscal.

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