Indian bank, a leading government-owned bank, on Thursday, opened five new branches simultaneously across Madhya Pradesh.

The branches were inaugurated by the banks CMD Sundar Rajan through video conferencing at a function organized at Hotel Fortune Landmark. The bank also opened up its five new Automated Teller Machines (ATMs) in the state.

With the opening of these branches the total number of branches in Madhya Pradesh has reached 16. The branches were opened at Vijay Nagar (Indore), Ashoka Garden (Bhopal), Neemuch, Khandwa and Pithampur (Dhar).

During the Inauguration, Rajan said that Indian Bank prioritised its customers over anything else and ensured customer delight by offering innovative and customised products.

Rajan pointed out that the bank was expanding at a fast pace and would set up two new branches in the coming few months. The bank has opened up 150 branches across the nation.

Rajan expected the bank's turnover to grow immensely in the next few years from the current Rs 300 crore. Rajan said that the bank is focusing on Micro-finance as most people in India are below poverty line.

Indian Bank's net profit grew by 31.47 per cent to Rs 371.98 crore for July-September quarter, 2009. Total income increased to Rs. 2,174.37 crore in the second quarter from Rs. 1,900.93 crore in the same quarter previous fiscal.