Indian Overseas Bank

The state-owned lender reported a 49.3 per cent rise in Q1 FY27 net profit, supported by strong growth in net interest income, non-interest income and improving asset quality

State-owned lender Indian Overseas Bank (IOB) on Monday reported a 49.3 per cent year-on-year jump in net profit to Rs 1,659 crore in the three months ended June 2026, driven by improved asset quality. The bank had earned a net profit of Rs 1,111 crore in the corresponding quarter last year. Total income rose to Rs 10,938 crore during the April-June period from Rs 8,866.47 crore a year earlier, the bank said in a stock exchange filing. The bank's asset quality improved, with Gross Non-Performing Assets (GNPA) dropping to 1.33 per cent for the June quarter of FY27 from 1.97 per cent a year earlier. Similarly, net NPA eased to 0.18 per cent from 0.32 per cent. Further, provisions were at Rs 834 crore in the quarter under review mostly unchanged from Rs 844 crore a year earlier but lower than Rs 1,006 crore in the March quarter. Shares of IOB were trading 4.11 per cent higher at Rs 35.2 on the BSE in the afternoon trade.

Q1FY27 company results: Firms including Indian Overseas Bank, Sobha, Mahindra Logistics, Canara HSBC Life Insurance Company, and Rallis India are also to release their April-June earnings today

The state-owned lender has increased rates on select non-callable domestic fixed deposits, while Unity Small Finance Bank has revised rates on its 501-day scheme

The Lucknow bench of the Allahabad High Court on Friday expressed displeasure over what it termed a growing tendency of banks to arbitrarily freeze accounts, observing that a bank acts as a trustee and not an investigative agency. A division bench of Justice Shekhar B Saraf and Justice Avadhesh Kumar Chaudhary imposed a cost of Rs 50,000 on Indian Overseas Bank for freezing a customer's account without valid justification, directing that the amount be paid to the account holder within four weeks. The order came while allowing a petition filed by M/s SA Enterprises, a company which deals in fishery machinery. In its plea, the company stated it had received Rs 23 lakh in its bank account through RTGS on January 16, 2026. The bank froze the account citing suspicion as the firm had declared an annual income of Rs 5.76 lakh at the time of opening the account. In its defence, the bank argued that the transaction appeared suspicious and the action was taken under provisions of the Prevent

Indian Overseas Bank plans to front-load ECL provisions while sustaining credit growth, backed by strong retail, MSME, and agriculture lending momentum

Indian Overseas Bank reported a 43 per cent rise in Q4 FY26 profit, supported by higher NII and lower provisions, though margins moderated during the quarter

Indian Overseas Bank posted a 63 per cent rise in net profit in the December quarter, supported by higher operating income, strong credit growth and a sharp improvement in asset quality

The government on Wednesday decided to exercise green shoe option to divest a higher 3 per cent stake in Indian Overseas Bank through offer-for-sale following overwhelming response from investors on the first day of subscription. The OFS of Indian Overseas Bank (IOB) opened for subscription on Wednesday for non-retail investors at a floor price of Rs 34 per share. "Offer for Sale in Indian Overseas Bank received good response from non-retail investors today. "Against about 34.66 cr shares on offer, demand was received for more than 41 cr shares. Government has decided to exercise the green shoe option. Retail investors get to bid tomorrow 18th December 2025," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X. The government proposed to sell up to 38.51 crore (38,51,31,796) shares or 2 per cent base offer size with an option to additionally sell 19.25 crore (19,25,65,898) shares, representing 1 per cent of the total issued and

Government proposes to sell up to 38,51,31,796 shares or 2 per cent of equity on December 17, 2025, for non-retail investors and on December 18, 2025, for retail investors, under the 'Base offer'.

The Centre will sell a base tranche of 2 per cent, or about 385.1 million shares, with an option to offload an additional 1 per cent, or 192.5 million shares, through a green shoe option

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

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Technical charts flag up to 22% downside risk for PSU bank shares such as Indian Overseas Bank, Uco Bank, Central Bank of India and Punjab & Sind Bank as government stake sale buzz looms.

BoB and IOB have cut MCLR rates for select tenors, offering EMI relief to borrowers, effective mid-September

As per SEBI norms, listed entities must reduce promoter shareholding to 75 per cent

Public sector Indian Overseas Bank was confident of maintaining its over Rs 1,000 crore net profit in the coming quarters. The city-headquartered bank had registered its first ever highest net profit of Rs 1,051 crore in the January-March 2025 quarter. "Exactly. One hundred per cent sure. We are very confident of maintaining this and growing it from here. If you see our net profits figure over the last two years, quarter on quarter, it is increasing. The graph has been very consistent," the bank's Managing Director and CEO Ajay Kumar Srivastava said. He was responding to a query from PTI on whether the bank was confident of maintaining the growth in the net profit during this financial year. He said, "in the fourth quarter of the last financial year (January-March 2025), the bank reported its highest ever net profit of Rs 1,051 crore and in June 2025 quarter, supposed to be a lean quarter, from that Rs 1,051 crore we have grown to over Rs 1,111 crore net profit, another highest eve

Punjab & Sind Bank and Indian Overseas Bank have put up over 20 non-performing accounts (NPAs) for sale, with a total principal outstanding of ₹500 crore, via a Swiss challenge auction

The Nifty PSU Bank index rose as much as 1.96 per cent to hit an intraday high of 7,010.45, with all its constituents trading in the green.