The state owned Indian Bank has recorded a net profit of 1544 crores in the last financial year. Addressing a press conference in Chennai, the Chairman and Managing Director T.M.Bhasin said priority sector credit was 44. 5 percent of aggregate credit, 4.5 percent more than the norm set by the centre.Bhasin said the bank is ranked third among public sector banks in providing educational loans.Last year alone Indian Bank had disbursed 2300 crores to 92,000 students. He said Indian Bank proposes to open 400 new branches in the next two years.