IOB's loss making branches down to 157 from peak of 742

The lender has focused Strongly on cost reduction, bank rationalisation and NPA recoveries; today, only 5% of its branches are loss making, compared with a peak of 22%

Indian Overseas Bank (IOB) has said it has brought down the number of loss incurring branches to 157 as on March 2019, from a peak of 742 in March 2015. This is the one of the key focus areas of the Bank as part of its turnaround plan.

IOB’s Executive Director, A K Srivastava said the bank's focus is to achieve profitability at grassroot level and that reduction in loss making branches stands testimony to this effort. The bank has been able to consistently pare the number of such branches from 742 in March 2015, to 718 in March 2016, to