Indian Overeas Bank

We are targeting double-digit growth of 13-15 per cent in the next two years, and in the last two years, we have grown more than that, says IOB MD & CEO

Indian Overseas Bank's quarterly profit jumped 61 per cent to ₹1,258.82 crore, its highest ever, driven by robust interest income, strong lending growth, and lower NPAs

Public sector lender Indian Overseas Bank (IOB) on Thursday reported a 58 per cent jump in net profit at Rs 1,226 crore for the second quarter ended September 30 of the current fiscal. The bank had a net profit of Rs 777 crore in the September quarter of the 2024-25 fiscal. Interest income rose to Rs 5,856 crore during the September quarter of FY'26, from Rs 5,055 crore in the year-ago period. Gross non-performing assets (NPA) improved to 1.83 per cent during the July-September quarter, from 2.72 per cent of total loans in the same quarter of 2024. Shares of IOB were trading at Rs 39.99, down 0.60 per cent over the previous close on BSE.

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Nifty failed to surpass the nearest resistance of its 5-day DEMA (24613) on a closing basis. However, the fall from the highs is not a definitive sign that the bullish momentum has completely faded.

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Indian Overseas Bank shares rose sharply after the bank reported a 76 per cent jump in its net profit year-on-year

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Public sector Indian Overseas Bank has unveiled retail loan processing centres in multiple cities aimed at streamlining the loan approval processes and reduce turn around time, a top official said. As many as eight Retail Loan Processing Centres were inaugurated in physical mode in Chennai while seven others were launched in virtual mode across cities, the bank's Managing Director and CEO Ajay Kumar Srivastava said. "Our new Retail Loan Processing Centres are not just about convenience. It is about building a smarter, more resilient banking framework. By harnessing digital tools and advanced analytics, we are ensuring stronger risk management while significantly reducing loan processing times," he said. The Retail Loan Processing Centre is designed to streamline the loan approval process, reduce turnaround time and provide faster and more efficient services to retail customers, he said in a statement on Sunday. Indian Overseas Bank has set up the RLPCs in Bengaluru, Coimbatore, Del

Even as the charts suggests that the Nifty PSU Bank index may exhibit some volatility in the near-term, select shares can potentially rally up to 13 per cent from current levels.

State-owned IREDA on Tuesday announced a partnership with Indian Overseas Bank (IOB) to co-finance renewable energy projects in India. The agreement was signed in the presence of IREDA CMD Pradip Kumar Das and IOB MD and CEO Ajay Kumar Srivastava in the national capital, a statement said. Indian Renewable Energy Development Agency (IREDA) and Indian Overseas Bank have joined hands by signing a memorandum of understanding (MoU). The agreement sets the stage for co-lending and loan syndication for a diverse spectrum of renewable energy projects across the nation, it added. The IREDA CMD said, "By combining our strengths and resources, we aim to provide robust financial support to renewable energy projects. The partnership aims to streamline loan syndication and underwriting processes, management of Trust and Retention Account (TRA) for IREDA borrowers, and work towards fixed interest rates over a 3-4-year period for IREDA borrowings". This collaboration builds upon IREDA's successful

Public sector undertaking Indian Overseas Bank has introduced savings account portability online, an initiative aimed at catering to customers who move to different locations for their career or education and find it cumbersome to relocate their home bank accounts to their current location. The facility, being available online, helps customers avoid the laborious process of filling up endless forms manually and cuts short the days of waiting for the account transfer to take place. "As part of our continuous endeavours toward making our customers' banking journey more efficient and easier, we are introducing Savings Account Portability Online." the bank's Managing Director and CEO Ajay Kumar Srivastava said, in a release issued here. "We are committed to staying at the forefront of technology with innovative solutions that cater to the evolving needs of the customers in today's digital age," he added. To initiate an account transfer, customers need to log into the bank's website ...

Motilal Oswal Financial Services believes that sustained and consistent performance on delivering healthy return ratios can result in further re-rating of the stocks.

Public sector Indian Overseas Bank has revised the interest rates on its domestic, foreign currency non-resident (banking) term deposits with immediate effect, the city-based lender said on Saturday. Depositors of domestic, non-resident external would receive interest rates up to 7.30 per cent by opening a term deposit with a tenure of 444 days and up to 7.25 per cent for a period of three years and above, Indian Overseas Bank said in a statement here. Foreign currency depositors shall be paid an interest rate up to 4.25 per cent by opening FCNR (B) term deposits with the bank, it said.

'It has been in the range of 20-30 per cent in almost every quarter'

Gross NPA down 6% during the quarter, net NPA up 11%; ratios improve in both spaces; lender came out of RBI's Prompt Corrective Action (PCA) on September 29, 2021

At least three PSBs have former SBI executives as MD & CEO at present - Sanjiv Chadha of Bank of Baroda, Partha Pratim Sengupta of Indian Overseas Bank and Soma Sankara Prasad of UCO Bank.

During the quarter under review, the bank's total income dipped to Rs 5,028 crore as against Rs 5,607 crore during the April to June quarter of 2021-22