Indian Overseas Bank

Indian Overseas Bank: Financial Services Company | One Stop Banking Solution (iob.in)

Indian Overseas Bank: Comprehensive Overview

General Information

• Founded: February 10, 1937, by M. Ct. M. Chidambaram Chettyar
• Headquarters: 763, Anna Salai, Chennai, Tamil Nadu, India
• Key People: Ajay Kumar Srivastava (Managing Director & CEO)
• Website: Indian Overseas Bank

Financial Highlights (as of March 31, 2023)

• Total Business: ₹417,960 crores
  • Deposits: ₹2.70 lakh crores
  • Advances: ₹1.80 lakh crores
• Revenue: ₹22,422.91 crores (FY23)
• Operating Income: ₹5,840.81 crores (FY23)
• Net Income: ₹2,098.79 crores (FY23)
• Total Assets: ₹313,745.82 crores (FY23)
• Total Equity: ₹27,213.79 crores (FY23)
• Capital Ratio: 17.28% (2024)

Network and Reach

• Branches: Over 3,220 domestic branches
• ATMs: Over 3,506
• Employees: Approximately 21,475 (2024)
• International Presence: Branches in Singapore, Hong Kong, Thailand, and Sri Lanka¹².

Services Offered

• Personal Banking: Savings accounts, fixed deposits, personal loans, home loans, education loans, and more.
• Corporate Banking: Business loans, working capital finance, trade services, and more.
• NRI Banking: Accounts and investment options for Non-Resident Indians.
• Digital Banking: Internet banking, mobile banking, and doorstep banking services.
• Investment Options: Mutual funds, insurance, and savings accounts.

Achievements

• Technology: Known for its robust digital banking services and customer-centric initiatives.
• Awards: Received the Degidhan Award 2020–21 by the Ministry of Electronics and Information Technology for achieving the second highest percentage of digital payment transactions among public sector banks².

Unique Initiatives

• FOREX and Overseas Banking: Specializes in foreign exchange and overseas banking, which was one of the founding objectives².

Contact Information

• Corporate Office: 763, Anna Salai, Chennai – 600002, Tamil Nadu, India
• Phone: +91 44-28524212
• Website: Indian Overseas Bank