We are very well capitalised : Indian Bank

19 July, Chennai

The public sector Indian Bank tonight welcomed the Centre’smove as ‘Intelligent’ to held the lenders to focus on growth.

In a statement here, Indian Bank MD and CEO Mahesh Kumar, reacting to Centre’s move to infuse capital into 13 PSU banks, hailed the move as ‘intelligent’ and said that it would help the lenders to focus on credit growth.

He said Indian Bank was adequately funded and will meet its capital requirements through internal accruals.

“We are self-sufficient in terms of funds. We never requested the government to infuse capital. Our capital adequacy ratio is 13.20 per cent, while Tier-I Capital is 12.08 per cent. ”The Common equity is 11.68 per cent,” he added.

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