Page 9 - Indian Overseas Bank
IOB seeks investors' nod for QIP of Rs 1,300 crore
Indian Overseas Bank (IOB), which has a big load of loans gone bad or stressed, says it has finalised a turnaround strategy. R Subramaniakumar, who took charge last month as managing director and chief executive, in a letter to the shareholders, said there would a focus on digital transformation and penetration. In the short term, stabilisation of its information technology platform. They were, he said, the first government-owned bank to have migrated to the latest version of Finacle Core Banking, a digital application. IOB also plans to introduce work flow automation. The accent would be on maximising of loan recovery and minimising of fresh slippage. The gross amount of non-performing assets (NPAs) was Rs 30,049 crore at the start of this financial year.A plan to chase NPAs had actually been started in April 2016 itself. Regional heads had been asked to visit NPA loanees at least four days in a week. And, a 15-member Special Recovery Team was formed in each region. A daily recovery .
 "IOB seeks investors' nod for QIP of Rs 1,300 crore")
IOB gets board's nod to raise funds via preferential allotment route
Bank to issue tier-I perpetual bonds of Rs 1,500 cr
 "IOB gets board's nod to raise funds via preferential allotment route")
NPAs part of biz but these have to be under control: R Subramaniakumar
IOB's gross and net NPAs were the highest during the quarter ended December, at 22.4%
 "NPAs part of biz but these have to be under control: R Subramaniakumar")
Indian Overseas Bank Q3 loss narrows to Rs 554 cr
Gross NPA of the Bank during the third quarter is at Rs 34,502.13 crore
 "Indian Overseas Bank Q3 loss narrows to Rs 554 cr")
Indian Overseas Bank suspends its staff who manhandled DU student
'The due process of enquiry will be initiated,' Indian Oversea Bank said
IOB capital infusion: Sebi exempts govt from making open offer
As part of capital infusion into the public sector lender, the government's stake in IOB would increase by more than 5%
Sebi grants exemption to Centre to raise stake in IOB
The decision is to support the decision of GoI to adequately capitalise the Bank to comply with Basel III norms
CBI registers cheating case for defrauding IOB of Rs 41.30 cr
It is alleged that fraudsters have used false financial statements to siphon off sanctioned credit limit and bank guarantee
IOB gets shareholders approval to raise Rs 1,551 crore
The funding will help it to improve capital adequacy ratio above the regulatory minimum of 9.625%
Vacuum at top in IOB
Only one executive director to manage affairs for the bank
IOB to conduct EGM to allot shares worth Rs 1,551 crore to GoI
The central government has recently announced an allocation of Rs 3,101 cr by way of preferential allotment of equity to the bank
IOB posts Q1 net loss of Rs 1,451 cr
Gross NPA grow to 20.48% and net NPA to 13.97%
Indian Overseas Bank goes in recovery mode
The bank has said that Rs 794 crore was recovered in small value NPA accounts and Rs 301 crore from accounts of over Rs 10 lakh and up to Rs 1 crore
 "Indian Overseas Bank goes in recovery mode")
Indian Overseas Bank MD & CEO R Koteeswaran demits office
He took over as Managing Director & Chief Executive Officer of the bank on December 31, 2014
 "Indian Overseas Bank MD & CEO R Koteeswaran demits office")
IoB posts Rs 936 cr loss in Q4, against Rs 35 cr profit a year ago
Gross NPA as on March 31 cross Rs 30,049 cr; gross NPA ratio at 17.4%
IOB to issue over 90 mn equity shares, raise Rs 261 cr
Stock of public sector lender closed 0.68% lower at Rs 29 apiece on BSE
IOB starts distribution of Indian Gold Coins
Available in denominations, 5, 10 and 20 grams, the coins are distributed through limited branches, IOB said in a statement
