Public sector lender, Indian Bank has said that it expects to earn business worth Rs 2, 25,000 in this financial year thereby portraying a 24% growth in business. The bank has massive expansion plans set for this fiscal.

"We have set a target to achieve a business size of Rs 2,25,000 crore, including Rs 1,00,000 crore of advances in 2011-12 as the bank is poised for higher growth with focus on (various verticals) like agriculture, MSME etc," Indian Bank, CMD, Mr TM Bhasin said.

In the fiscal last ended, the bank booked a total business worth Rs 1,82,000 crore.

It plans to increase its branch network to 2000 in this financial year.

"We have a branch network of 1,863 at present and we want to raise this network to 2,000 in this fiscal by opening more branches," said Bhasin.

The bank has set ambitious targets for its offshore business too by planning to set up 5 new branches abroad of which 3 are in Sri Lanka.

"We will continue to focus on geographical expansion and also tap Tamil population by opening three more branches in Sri Lanka," he said.

"We have already applied for opening branch in Hong Kong and office in Jakarta," he added.