IOB Share Price Today

Indian Overseas Bank (IOB) was established in 1937 by Shri. M.Ct.M. Chidambaram Chettyar to specialise in foreign exchange banking and expand its global presence. With 195 branches in India, IOB had an aggregate deposit of ₹67.70 Cr and advances of ₹44.90 Cr on the eve of Nationalisation in 1969. In 1973, IOB formed United Asian Bank Berhad and acquired the Bank of Thailand in 1990. The bank launched an IPO in 2000 and a Follow-on Public Offer (FPO) in 2003, and introduced debit cards in 2005. In 2011, IOB expanded its branches to 1,000 in Tamil Nadu and launched Bank on Wheels in 13 districts in Tamil Nadu, and one each in Kerala and Andhra Pradesh. Allahabad Bank was merged into IOB in April 2020. Checkout Indian Overseas Bank share price history for more insights.

Business Segments

IOB Bank's Financial Segment Overview:

Domestic Deposits: Accepts public deposits across the country.
Domestic Advances: Provides loans to retail, Agri, and MSME sectors.
Overseas Operations: Offers banking services to overseas customers.
Treasury Operations & Investments: Manages financial assets and liabilities, ensures liquidity, and provides MSME services.

Key Personnel of Indian Overseas Bank

Ajay Kumar Srivastava, CEO and Managing Director

On January 1, 2023, Shri Ajay Kumar Srivastava was elevated from the role of Executive Director to MD and CEO of IOB. In 1991, he started working for Allahabad Bank as a probationary officer (PO). As a result, he worked across the nation in a variety of roles.

Management Outlook of IOB Bank

The bank has developed a digital strategy that is prepared for the future, with an emphasis on the "e-Sankalp" digital transformation path. The plan centres on expanding digitally and improving core technology capacities.
Because of the government's significant rise in capital expenditures, IOB is hopeful about double-digit credit growth, which might lead to total PSB business growth.

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Highlights of Indian Overseas Bank's Results

Indian Overseas Bank Announces Q3FY24 Quarterly Results

As of December 31, 2023, the total business was Rs 4,94,209 crore, up from Rs 4,32,530 crore the previous year.
From Rs 2,57,480 crore on December 31, 2022, to Rs 2,78,046 crore on December 31, 2023, total deposits increased.
By December 31, 2023, the Bank's CASA was at Rs 1,20,915 crore at 43.49%, up from Rs 1,14,591 crore at 44.50% in the same period the previous year.