Page 5 - Indian Overseas Bank
SBI, LIC among key govt-run financial institutions set to see new faces
The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India
 "SBI, LIC among key govt-run financial institutions set to see new faces")
Indian Overseas Bank to revise rates on retail term deposits from Thursday
Public sector Indian Overseas Bank would increase the interest rates on its retail term deposits up to 60 basis points with effect from November 10, the city-based bank said on Wednesday. With the revision in interest rates, domestic and non-resident depositors would get a hike of up to 7.15 per cent for deposits with period of 444 days, three years and above. Term deposits for tenure of 270 days to one year and one year to three years, the interest rates have been increased by 60 basis points, the bank said in a statement here.
 "Indian Overseas Bank to revise rates on retail term deposits from Thursday")
Indian Overseas Bank, Bank of Maharashtra hike MCLR by up to 25 bps
One-year median MCLR of scheduled commercial banks has increased from 7.75 per cent in September
State-owned lenders raise MCLR, month after third repo rate hike
RBI has increased benchmark policy rate by 140 bps cumulatively since May
 "State-owned lenders raise MCLR, month after third repo rate hike")
Banks in talks with Singapore's DBS to begin real-time remittance system
At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone
 "Banks in talks with Singapore's DBS to begin real-time remittance system")
Stocks to Watch: Bharti Airtel, Nykaa, Paytm, BPCL, SBI, Titan, Adani Ports
Stocks to watch today: Bharti Airtel and Adani Ports will report their June quarter results (Q1FY23); Titan saw 13-fold jump in net profit to Rs 790 crore in Q1FY23.
 "Stocks to Watch: Bharti Airtel, Nykaa, Paytm, BPCL, SBI, Titan, Adani Ports")
Indian Overseas Bank Q1 net profit rises 20% to Rs 392 cr on less bad loans
The bank's total income declined to Rs 5,028 crore in the first quarter of 2022-23, as against Rs 5,607 crore in the same period a year ago, IOB said in a regulatory filing.
Indian Overseas Bank gets board nod to raise up to Rs 1k cr equity capital
The Chennai-based state-owned lender said it will seek shareholders' approval for raising the equity capital
RBI approves former IOB chief Subramaniakumar as CEO of RBL Bank
Industry veteran started his career with Punjab National Bank and his new role is for three years.
 "RBI approves former IOB chief Subramaniakumar as CEO of RBL Bank")
Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch
State Bank of India (SBI) will likely be the only PSB in Hong Kong, alongside private sector banks ICICI and HDFC
 "Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch")
Appointment of managing directors at three PSBs gets govt's approval
The appointments are in line with the recommendations made by the Banks Board Bureau
Govt committed to privatisation of two public sector banks: Report
According to sources, Central Bank of India and Indian Overseas Bank are likely candidates for privatisation
 "Govt committed to privatisation of two public sector banks: Report")
HDFC Bank, Canara Bank, Indian Overseas Bank others raise lending rates
HDFC Bank hiked marginal cost of funds based lending rate (MCLR) by 25 bps across all tenures up to 7.7 per cent, effective May 7
 "HDFC Bank, Canara Bank, Indian Overseas Bank others raise lending rates")
Indian Overseas Bank hikes repo based lending rate to 7.25% from May 10
Several banks have revised their lending rates based on repo and marginal cost of funds
Indian Overseas Bank, Software Technology Park of India ink MoU
'This MoU will help the bank in leveraging innovation through the financial technologies engaged under the FinBlue initiative,' the statement said
IOB raises Rs 665 crore via tier-II bonds, exercises green shoe
The lender came up with a Basel-III compliant bond issue with base size of Rs 200 crore and green shoe option of Rs 600 crore
Govt appoints Aggarwal as RBI nominee director in Indian Overseas Bank
With this, Deepak Kumar, nominated by the government as the RBI nominee director, ceases to be a director on the board with effect from Friday, the lender added
IOB Q3 net profit goes up by 113% as provisions decline sharply
The public sector lender's net interest margin declined to 2.4 per cent in Q3FY22 from 2.45 per cent in Q3FY21
Indian Overseas Bank's Q3 net profit more than doubles to Rs 454 cr
The bank, which came out of the RBI's prompt corrective action (PCA) framework in September 2021, is aiming the net profit to touch around Rs 1,600 crore in the current financial year
Shares of IOB, Central Bank of India surge on reports of privatisation
Banks clarify no such negotiation or event taking place