Public sector lender, Indian Bank has finally launched its second branch in the Sri Lankan state of Jaffna.

The bank already has a branch in the capital of Sri Lanka, Colombo. The bank finally launched the branch after getting approval from Sri Lankan regulators in November.

The branch was inaugurated by Indian High Commissioner to Sri Lanka Ashok K Kantha, Central Bank of Sri Lanka Governor Ajith Nivard Cabraal and Indian Bank Chairman and Managing Director T M Bhasin.

"The Governments of Sri Lanka and India have been making joint efforts for economic development of the Region. Indian Bank, with its 104 years of active market presence and considerable exposure in Rural Development and Micro Finance , shall strive hard to bring about a positive economic change in the life of the inhabitants of Jaffna " Bhasin said.

The bank presently has a total business of Rs 1,75,000 crore and business generated by the Colombo branch as on December 2010 amounted to Rs 553 crore, said Bhasin.