The Indian Bank has recorded a net profit of Rs 1,555 crore during the last financial year.

The bank posted an operating profit of Rs 2,747 crore for the period under review.

While announcing the results, Indian Bank CMD TM Bhasin stated that the overall biz of the bank has surpassed Rs 1.62 lakh crore with depository income more than Rs 96,000 crore and advances over Rs 66,000 crore.

Mr. Bhasin stated, ''The deposits have shown a growth of 21.25 per cent and advances at 27.72 per cent on a year on year basis,'' Mr Bhasin observed.

While answering a question on whether Indian Bank was looking for any novel plan on the eve of the festival period, he said that home loans would be given at an interest rate of 8% under 'Festive Home Loan' scheme.

Mr. Bhasin also said that Indian Bank had raised its attendance across the country to 1768 divisions, all under CBS, and planned to launch around 175 divisions in 2010, out of which 7 would be established in the state.

Talking about its 'Financial Inclusion Plan,' Mr. Bhasin added that the banking institution allocated with 1549 villages, has also decided to cover up 4014 more small towns across India, broadening different delivery channels like biometric ATMs.

''Villages with population more than 2000 will be covered by the bank before March next year and it will cover 10,000 villages with financial inclusion in next two years,'' Mr. Bhasin maintained.

On Friday (Sep 24), the stock of the company closed at Rs 264.45, down 0.8%, on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 273.45 and a low of Rs 151 on BSE.

Current EPS & P/E ratio stood at 37.03 and 7.14 respectively.