Indian Overseas Bank

Punjab & Sind Bank, IoB chiefs likely to get extended tenures soon

"Granting extension of tenures to PSB & IOB MDs is at a final stage. Both MDs have two years of services left. The final notification will come soon," said the source

SBI, PNB: Should you buy or sell PSU bank stocks post JSW Steel SC order?

Technical charts indicate a likely mixed outlook for state-run banking shares. Bank of Baroda and IOB stocks seem to be favourably placed, while PNB and Canara Bank may witness downward pressure.

IOB net profit crosses Rs 1K-crore mark for first time; up 35% in Q4

Indian Overseas Bank reports record Q4 net profit of Rs 1,091.94 crore, plans Rs 4,000 crore capital raise in FY26 as asset quality and capital adequacy continue to improve

Indian Overseas Bank Q4 results: PAT rises 30% to ₹1,051 cr on lower NPAs

State-owned Indian Overseas Bank (IOB) on Friday reported a 30 per cent rise in net profit to Rs 1,051 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Chennai-based lender had earned a net profit of Rs 808 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 9,215 crore, as against Rs 9,106 crore a year ago, Indian Overseas Bank said in a regulatory filing. Interest income grew to Rs 7,634 crore during the period under review, from Rs 6,629 crore in the corresponding quarter a year ago. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) moderated to 2.14 per cent of gross advances, as compared to 3.10 per cent by the end of March 2024. Similarly, Net NPAs also came down to 0.37 per cent of the advances, over 0.57 per cent at the end of 2024. As a result, total provision during the quarter eased to Rs 200 crore, as against Rs 409 crore in the same quarter a year ago. The b

Q4 results today: Marico and Indian Overseas Bank among 37 firms on May 2

Q4 FY25 company results today: City Union Bank, Nitco, Sanofi India, and TRF will be among 37 companies to post earnings reports for the January-March quarter on May 2

IOB reduces repo-linked lending rate by 25 basis points following MPC cut

Public sector Indian Overseas Bank has reduced the Repo Linked Lending Rate of the bank by 25 basis points with immediate effect, the bank said on Saturday. Recently, the Reserve Bank of India in its latest Monetary Policy Committee meeting decided to reduce the Policy Repo Rate from 6.25 per cent to 6 per cent. The decision to slash the rates by the apex bank comes amid looming uncertainties after last week's announcement of 27 per cent tariffs on Indian imports to the US by President Donald Trump. Accordingly, the Asset Liability Management Committee in its meeting held on April 11 has decided to pass on the rate cut to the customers by reducing the Repo Linked Lending Rate of the Bank by 25 basis points from 9.10 per cent to 8.85 per cent with effect from April 12, 2025, the city-headquartered bank said in a press release on Saturday.

Indian Overseas Bank down 7%, hits 52-week low; stock down 12% in 3 days

A total of 354.18 million equity shares of Indian Overseas Bank allotted to QIBs pursuant to QIP were listed and admitted for trading on the Exchange with effect from Friday, March 28, 2025.

Indian Overseas Bank issues show cause notice to IL&FS Engineering

IL&FS Engineering Services on Monday said it has received a show cause notice from Indian Overseas Bank (IOB) for reviewing the classification of the company's loan account as a suspicious fraud account. Facilities involved for Rs 123 crore, though irregularities have not been quantified by the lender, IL&FS Engineering said in a regulatory filing. This was first observed by Grant Thornton India in their forensic audit report and was duly reported to MCA for appropriate action, it said. As per the directions of NCLT on October 1, 2018, the reconstituted Audit Committee of new Board comprising nominated directors of Ministry of Corporate Affairs had conducted a special audit (held as Forensic Audit') for all high-value transactions undertaken by IL&FS Ltd (IL&FS) and a few of its group companies which included IL&FS Engineering through Grant Thornton India LLP, it said. Accordingly, as a natural corollary of the IL&FS crisis, the then loan accounts, maintained ..

IOB bank user can access Housing Loan Interest Certificate on DigiLocker

Indian Overseas Bank customers can now download their housing loan interest certificate directly from DigiLocker by entering their housing loan account number and selecting the relevant financial year

Govt seeks advisers for minority stake sales in state-run banks, firms

The federal finance ministry is looking dilute minority shareholdings in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank

Central Bank, IOB, UCO Bank rise up to 4% in trade on Feb 25; here's why

The uptick in these stocks came after the DIPAM invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions

Indian Overseas Bank share rallies 6% on robust Q3FY25 show; details here

The uptick in Indian Overseas Bank shares price came after the company posted a strong set of results in the December quarter of financial year 2025 (Q3FY25)

Indian Overseas Bank to sell Rs 11,500 cr NPAs to boost asset quality

State-run Indian Overseas Bank on Thursday said it is selling non-performing assets of Rs 11,500 crore to asset reconstruction companies. The Chennai-headquartered lender said it is selling 46 loan accounts and invited expressions of interest from the ARCs, according to an official statement. The sale will be conducted through an e-auction under the open auction method on a portfolio basis, it said, adding that the portfolio comprises accounts financed under a consortium arrangement, with some admitted under NCLT. Prospective buyers can bid on a portfolio basis, individual accounts, or groups of accounts, it added. IOB Managing Director and Chief Executive Ajay Kumar Srivastava said when it comes to resolving stress, it wants to focus on value maximisation through recovery measures, including invoking SARFAESI actions, compromise settlements, and sales to ARCs. Eligible ARCs and other transferees can submit their EoI by January 18 to participate in the e-auction scheduled for Janu

RBL Bank re-appoints R Subramaniakumar as MD & CEO for a period of 3 years

R Subramaniakumar was initially appointed for a period of three years as MD and CEO of the bank in June 2022

Indian Overseas Bank share price jumps 5% on I-T refund of Rs 1,359 crore

The rise in the Indian Overseas Bank share price came after the company announced that it has received a tax refund from the Income Tax (I-T) Department of Rs 1359,29,17,840 (over Rs 1,359 crore)

UCO Bank, Central Bank rise up to 9% in trade: here's why PSBs are surging

Among others, UCO Bank and Central Bank gained over 9 per cent and over 7 per cent respectively. Indian Overseas Bank shares were up over 6 per cent

Here's why this PSU bank share was up 3% on November 27; details inside

The up move in Indian Overseas Bank scrip came after the company announced that it has received tax refunds of Rs 1,238.31 crore from the Income Tax Department (I-T Department)

Indian Overseas Bank Q2 results: Net profit rises 24% to Rs 777 crore

State-owned Indian Overseas Bank (IOB) on Thursday posted a 24 per cent surge in net profit to Rs 777 crore in the second quarter ended September 2024. The lender had earned a net profit of Rs 625 crore in the same quarter a year ago. Its total income increased to Rs 8,484 crore during the quarter under review against Rs 6,935 crore in the same period last year, IOB said in a regulatory filing. The bank earned an interest income of Rs 6,851 crore during the quarter compared to Rs 5,821 crore in the year-ago period. With regard to asset quality, the bank was able to reduce gross non-performing assets (NPAs) to 2.72 per cent of the gross loans by the end of September 2024 from 4.74 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.47 per cent from 0.68 per cent at the end of the second quarter of the previous fiscal. As a result, provisions for bad loans declined significantly to Rs 71 crore compared to Rs 1,121 crore earmarked in the same quarter of FY24. Provi

Indian Overseas Bank bags Rajbhasha Kirti Puraskar for 2nd consecutive time

Public sector Indian Overseas Bank has secured the Rajbhasha Kirti Pratham Puraskar first prize for the second consecutive year in the Official Language Implementation category for 2023-24 by the Ministry of Home Affairs. The recognition underscores the commitment of the city-headquartered bank in promoting the use of Hindi language and enhancing the implementation of official language policies across its operations. Union Home Minister Amit Shah presented the award to the bank's Managing Director and CEO Ajay Kumar Srivastava in New Delhi at a function to mark the Hindi Day Celebrations and the Diamond Jubilee of Official Languages, a press release from the Bank said. Indian Overseas Bank currently has 3,264 branches, 3,500 ATM network and 7,251 business correspondents. It also offers its service in Singapore, Hong Kong, Thailand and Sri Lanka. The Ministry of Home Affairs introduced the Rajbhasha Kirti Puraskar award scheme to encourage the implementation of the official language

IOB invites EoIs for Rs 1,067 crore bad loans through open offer

ARCs interested in acquiring the bad loans have to complete their due diligence on the accounts by August 12