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Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank Eighteen of India's 20 largest banks saw increases in market capitalization in the second quarter, boosted by a stock rally amid the banking sector's strong recovery, according to S&P Global Market Intelligence data and analysis. Nine banks reported double-digit percentage gains in market capitalization, led by IDFC First Bank Ltd. with a 44.53% climb to $6.41 billion. The lender rose to No. 11 from No. 14 in the ranking. IDBI Bank Ltd. climbed three spots to No. 8 after a 2...
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank
Source: IANS
13/07/2023 4:40:40 PM
Rapid Response and Financial Security: Universal Sompo General Insurance and Indian Overseas Bank Extend Aid to Fire Accident Victims Universal Sompo General Insurance, in alliance with Indian Overseas Bank, expresses deep condolences to the families affected by the recent tragic fire accident at a cracker manufacturing unit near Kancheepuram in Tamil Nadu. As a testament to our commitment to the well-being of individuals and communities, IOB Suraksha, our personal accident policy, promptly provided coverage to the affected workers and their families. In a recent event, a fire broke out in the cracker manufacturing unit,...
Rapid Response and Financial Security: Universal Sompo General Insurance and Indian Overseas Bank Extend Aid to Fire Accident Victims
Rapid Response and Financial Security: Universal Sompo General Insurance and Indian Overseas Bank Extend Aid to Fire Accident Victims
Source: PR Agency
11/07/2023 4:52:11 PM
Indian Overseas Bank falls despite reporting 19% rise in Q4 consolidated net profit Indian Overseas Bank is currently trading at Rs. 24.95, down by 0.28 points or 1.11% from its previous closing of Rs. 25.23 on the BSE. The scrip opened at Rs. 25.46 and has touched a high and low of Rs. 25.79 and Rs. 24.81 respectively. So far 1360500 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.70 on 16-Dec-2022 and a 52 week low of Rs. 15.25 on 20-Jun-2022. Last one week high and low of the scrip stood...
Indian Overseas Bank falls despite reporting 19% rise in Q4 consolidated net profit
Indian Overseas Bank falls despite reporting 19% rise in Q4 consolidated net profit
Source: Accord Fintech
15/05/2023 3:12:13 PM
Indian Overseas Bank clocks Net Profit of Rs 650 Cr in Q4 on healthy growth in NII and Improvement in Asset Quality Indian Overseas Bank has reported 17.12 % rise in Net profit to Rs 650 Cr for the quarter ended march 2023 as against Rs 555 Cr for December 2022 quarter. The Year on year Net profit of the bank has grown by 22.75 % to Rs 2099 Cr from Rs 1710 Crore as reported in the financial year 2021-22 on the back of strong growth in Net Interest Income and Improvement in asset quality On the asset quality side, the bank has seen decrease in both gross NPA & Net NPA. The Gross NPA of the Bank has d...
Indian Overseas Bank clocks Net Profit of Rs 650 Cr in Q4 on healthy growth in NII and Improvement in Asset Quality
Indian Overseas Bank clocks Net Profit of Rs 650 Cr in Q4 on healthy growth in NII and Improvement in Asset Quality
Source: PR Agency
13/05/2023 10:19:04 AM
IOB Raised Rs.1000 Crore @9.00% Through Basel III Tier II Bonds Issue Indian Overseas Bank on 24.03.2023 has successfully mobilized Tier II Bonds of Rs.1000 crore (Rupees One Thousand Crores Only). The Bank came up with Basel III Compliant Tier II Series V Bonds issue with Base Size of Rs.200 crore and Green Shoe option of Rs.800 crore. The bidding was held on 23.03.2023 on BSE Electronic Biding Platform. The Bank received various bids up to Rs.1025 crore against base issue size of Rs.200 crore. The Bank accepted bids of amount up to Rs.1000 crore @ 9.00 % agai...
IOB Raised Rs.1000 Crore @9.00% Through Basel III Tier II Bonds Issue
IOB Raised Rs.1000 Crore @9.00% Through Basel III Tier II Bonds Issue
Source: PR Agency
25/03/2023 10:40:38 AM
Indian Overseas Bank conducted the SHG Special Campaign at Chennai District  Indian Overseas Bank conducted the SHG Special Campaign at Chennai District on 21-03-2023. Indian Overseas Bank General Manager & SLBC Convenor Shri. Reyazul Haque and TNULM Chennai, Asst. Project Officer Thiru E Ravi participated as special guests for the campaign. Loans to the tune of Rs. 507.80 lakhs were sanctioned and disbursed to 87 Self Help Groups across Chennai District. Financial Literacy to SHGs were also conducted. Chennai-I, Chennai-II region and Lead Bank, Chennai cond...
Indian Overseas Bank conducted the SHG Special Campaign at Chennai District
Indian Overseas Bank conducted the SHG Special Campaign at Chennai District
Source: PR Agency
22/03/2023 12:53:15 PM
Indian Overseas Bank MD & CEO Shri Ajay Kumar Srivastava honoured by the Hon`ble Chief Minister of Tamil Nadu Chennai: Shri Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank (IOB) has been honoured by the Hon'ble Chief Minister of Tamil Nadu, Shri M. K. Stalin, for the bank’s contributions towards the renovation of the M. A. Chidambaram Stadium in Chennai. Shri Srivastava was felicitated during the inauguration and naming of the pavilion stand at the stadium on March 17, 2023. IOB played a key role in the renovation of this historic stadium, which is...
Indian Overseas Bank MD & CEO Shri Ajay Kumar Srivastava honoured by the Hon`ble Chief Minister of Tamil Nadu
Indian Overseas Bank MD & CEO Shri Ajay Kumar Srivastava honoured by the Hon`ble Chief Minister of Tamil Nadu
Source: PR Agency
20/03/2023 4:02:45 PM
Axis Bank enables settlement of cross border transaction in real-time through the UPI network * Providing a real-time and cost-effective cross-border payment solution between India and Singapore * Axis Bank will currently settle transactions to beneficiaries holding an account with or are registered on the UPI App of SBI, IOB, Indian Bank, ICICI, DBS, and Axis Bank   Axis Bank, India’s third largest private sector bank, has successfully enabled cross-border transactions in real-time via the UPI Network. This initiative is a part of the joint initiative between the ...
Axis Bank enables settlement of cross border transaction in real-time through the UPI network
Axis Bank enables settlement of cross border transaction in real-time through the UPI network
Source: PR Agency
22/02/2023 12:03:12 PM
PM Narendra Modi, Singapore PM witness launch of payment interface linkage Prime Minister Narendra Modi and his Singaporean counterpart Lee Hsien Loong on Tuesday witnessed the launch of a cross-border linkage between the two nations using their respective fast payment systems namely Unified Payments Interface (UPI) and PayNow. The facility was launched through token transactions by Reserve Bank of India (RBI) governor Shaktikanta Das and Managing Director of Monetary Authority of Singapore (MAS), Ravi Menon using the UPI-PayNow linkage. The UPI-PayNow linkage...
PM Narendra Modi, Singapore PM witness launch of payment interface linkage
PM Narendra Modi, Singapore PM witness launch of payment interface linkage
Source: IANS
21/02/2023 2:06:15 PM
IOB hikes term deposit interest rates Public sector Indian Overseas Bank on Monday announced a hike in the interest rates on rupees retail term deposits, up to 45 basis points, from Tuesday onwards. According to the bank, domestic/NRO/NRE depositors will get interest rate upto 7.75 per cent on term deposit for a period of 444 days. Interest Rate on Foreign currency deposits has also been increased upto 100 bps effective from January 10. FCNR(B)/RFC depositors will get an interest rate up to 5 per cent on their term depos...
IOB hikes term deposit interest rates
IOB hikes term deposit interest rates
Source: IANS
10/01/2023 9:06:27 AM
Shri Sanjay Mudaliar, Chief General Manager & Chief Technology Officer, Bank of Baroda has been elevated as Executive Director of Indian Overseas Bank Shri Sanjay Mudaliar, Chief General Manager & Chief Technology Officer, Bank of Baroda has been elevated as Executive Director of Indian Overseas Bank w.e.f 1st January 2023.   He is a Postgraduate in Science and Technology and a Certified Project Management Practitioner from London (UK). He was holding the position of Chief Technology Officer of Bank's Global Operations spanning across 17 countries. He is a seasoned banker with career spanning over 30 years across industri...
Shri Sanjay Mudaliar, Chief General Manager & Chief Technology Officer, Bank of Baroda has been elevated as Executive Director of Indian Overseas Bank
Shri Sanjay Mudaliar, Chief General Manager & Chief Technology Officer, Bank of Baroda has been elevated as Executive Director of Indian Overseas Bank
Source: PR Agency
3/01/2023 5:44:20 PM
IL&FS completes transfer of two more Road SPVs to Invit at Enterprise Value of Rs 979 cr Hazaribagh Ranchi Expressway Limited (HREL) and Thiruvananthapuram Road Development Company Limited (TRDCL) both transferred to Roadstar Infra Investment Trust ('InvIT') at Enterprise value of Rs 979 crore. Senior Secured lenders of the both the assets -- HREL and TRDCL -- with combined debt of over Rs 630 crore will achieve 100 per cent recovery through restructuring of their debt under InvIT. Some of the Senior Secured lenders of these two projects include: Punjab National Ban...
IL&FS completes transfer of two more Road SPVs to Invit at Enterprise Value of Rs 979 cr
IL&FS completes transfer of two more Road SPVs to Invit at Enterprise Value of Rs 979 cr
Source: IANS
21/12/2022 2:03:45 PM
Universal Sompo General Insurance partners with Zopper to launch a special integrated insurance offering National, December 13, 2022: Universal Sompo General Insurance, a JV of Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investment Corp, and a leading general insurer from Japan, Sompo Japan Insurance Inc. has partnered with Zopper, India’s largest insurance infrastructure API platform, to roll out a special integrated offering for customers.   Through this partnership, customers will have access to buy insurance seamlessly, along with an option to purchase...
Universal Sompo General Insurance partners with Zopper to launch a special integrated insurance offering
Universal Sompo General Insurance partners with Zopper to launch a special integrated insurance offering
Source: PR Agency
13/12/2022 2:04:53 PM
Indian Overseas Bank rises on entering into agreement with broking partner SMC Global Indian Overseas Bank is currently trading at Rs. 23.20, up by 0.05 points or 0.22% from its previous closing of Rs. 23.15 on the BSE. The scrip opened at Rs. 23.15 and has touched a high and low of Rs. 23.50 and Rs. 23.10 respectively. So far 748256 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 24.85 on 22-Nov-2022 and a 52 week low of Rs. 15.25 on 20-Jun-2022. Last one week high and low of the scrip stood at...
Indian Overseas Bank rises on entering into agreement with broking partner SMC Global
Indian Overseas Bank rises on entering into agreement with broking partner SMC Global
Source: Accord Fintech
24/11/2022 11:05:06 AM
IL&FS commences interim distribution payout IL&FS has commenced Interim Distribution pay-out with Rapid Metro Gurgaon Rail Ltd (RMGL), an IL&FS Group company. The Group has completed distribution of Rs 623.38 crore, on an interim basis, to the secured lenders/secured financial creditors of RMGL comprising Union Bank of India, Bank of India, Indian Bank, Punjab & Sind Bank, UCO Bank, Bank of Baroda, Punjab National Bank and Indian Overseas Bank. The total claims of these lenders was Rs 715 crore. This distribution o...
IL&FS commences interim distribution payout
IL&FS commences interim distribution payout
Source: IANS
14/11/2022 12:05:24 PM
Indian Overseas Bank gains on reporting 33% rise in Q2 consolidated net profit Indian Overseas Bank is currently trading at Rs. 21.80, up by 0.15 points or 0.69% from its previous closing of Rs. 21.65 on the BSE. The scrip opened at Rs. 22.30 and has touched a high and low of Rs. 22.60 and Rs. 21.70 respectively. So far 699411 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.80 on 24-Nov-2021 and a 52 week low of Rs. 15.25 on 20-Jun-2022. Last one week high and low of the scrip stood at...
Indian Overseas Bank gains on reporting 33% rise in Q2 consolidated net profit
Indian Overseas Bank gains on reporting 33% rise in Q2 consolidated net profit
Source: Accord Fintech
7/11/2022 10:31:35 AM
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore As banks' outstanding dues shot up to a whopping Rs 8.58 lakh crore, Maharashtra and Delhi top the list of defaulters, as per the latest official data of TransUnion CIBIL Ltd. The figures show that as on March 31, 2022, there were 30,359 records of borrowers with defaults of Rs one crore and above, with recovery suits filed against them by various banks, totalling to outstanding of Rs 858,396.32 crore. This amount has more than tripled since March 31, 2017 -- from 17,236 accounts ...
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore
Source: IANS
28/09/2022 3:19:35 PM
Banks hike deposit rates ahead of festive season Most banks are increasing their deposit rates for boosting deposit to support rising credit off-take as liquidity in the banking system has narrowed. The hike in deposit rates are in line with the Reserve Bank of India's (RBI) 50 basis points hike in repo rate in the August monetary policy. The rise in deposit will help banks to fund the demand for loans during the festive season. "Going forward, banks are expected to raise deposit rates for boosting deposits to support this...
Banks hike deposit rates ahead of festive season
Banks hike deposit rates ahead of festive season
Source: IANS
18/08/2022 12:28:29 PM
IOB gains on aiming to boost advances in retail, MSMEs, corporate and agricultural loans in FY23 Indian Overseas Bank is currently trading at Rs. 17.05, up by 0.10 points or 0.59% from its previous closing of Rs. 16.95 on the BSE. The scrip opened at Rs. 16.95 and has touched a high and low of Rs. 17.10 and Rs. 16.90 respectively. So far 12000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.00 on 30-Jun-2021 and a 52 week low of Rs. 15.25 on 20-Jun-2022. Last one week high and low of the scrip stood at ...
IOB gains on aiming to boost advances in retail, MSMEs, corporate and agricultural loans in FY23
IOB gains on aiming to boost advances in retail, MSMEs, corporate and agricultural loans in FY23
Source: Accord Fintech
27/06/2022 9:36:54 AM
Indian Overseas Bank rises on getting nod to raise up to Rs 1,000 crore Indian Overseas Bank is currently trading at Rs. 16.95, up by 0.25 points or 1.50% from its previous closing of Rs. 16.70 on the BSE. The scrip opened at Rs. 17.05 and has touched a high and low of Rs. 17.20 and Rs. 16.80 respectively. So far 70163 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.00 on 30-Jun-2021 and a 52 week low of Rs. 15.55 on 12-May-2022. Last one week high and low of the scrip stood at ...
Indian Overseas Bank rises on getting nod to raise up to Rs 1,000 crore
Indian Overseas Bank rises on getting nod to raise up to Rs 1,000 crore
Source: Accord Fintech
16/06/2022 10:10:35 AM
Q4 - Financial results of Indian Overseas Bank Q4 - Financial results of Indian Overseas Bank Net Profit for FY 2021-22 has been doubled i.e. from Rs.831 crore (31.03.2021) to Rs.1,709 crore (31.03.2022). Profit for the quarter ended 31.03.2022 recorded at Rs.552 crores as against Rs.454 crores for the quarter ended 31.12.2021. Net NPA has stood at 2.65% which is within prescribed RBI guidelines. During the quarter GNPA reduced by Rs.127 crore.  GNPA ratios reduced to 9.82% from 10.40% QoQ The provision coverage ratio i...
Q4 - Financial results of Indian Overseas Bank
Q4 - Financial results of Indian Overseas Bank
Source: PR Agency
19/05/2022 11:16:11 AM
Indian Overseas Bank trades higher on sanctioning loan of Rs 1,000 crore to JKIDFC Indian Overseas Bank is currently trading at Rs. 17.70, up by 0.35 points or 2.02% from its previous closing of Rs. 17.35 on the BSE. The scrip opened at Rs. 17.50 and has touched a high and low of Rs. 17.75 and Rs. 17.40 respectively. So far 237507 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.00 on 30-Jun-2021 and a 52 week low of Rs. 14.45 on 19-Mar-2021. Last one week high and low of the scrip stood at...
Indian Overseas Bank trades higher on sanctioning loan of Rs 1,000 crore to JKIDFC
Indian Overseas Bank trades higher on sanctioning loan of Rs 1,000 crore to JKIDFC
Source: Accord Fintech
8/03/2022 10:51:06 AM
Indian Overseas Bank's Q3FY22 net profit up 113% The Indian Overseas Bank on Wednesday reported a raise of 113 per cent in its net profit for Q3FY22 on a year-on-year basis. The net profit rose to Rs 454 crore during the period under review as against Rs 213 crore for the quarter ended December 2020. Besides, interest income stood at Rs 4,198 crore for the quarter ended December 31, 2021 compared to Rs 4,244 crore for the corresponding period of the previous year. The lender's gross NPA as on December 31, 2021 stood at Rs 15,427 c...
Indian Overseas Bank's Q3FY22 net profit up 113%
Indian Overseas Bank's Q3FY22 net profit up 113%
Source: IANS
3/02/2022 10:34:45 AM
Indian Overseas Bank shines on reporting above 2- fold jump in Q3 net profit Indian Overseas Bank is currently trading at Rs. 21.50, up by 0.70 points or 3.37% from its previous closing of Rs. 20.80 on the BSE. The scrip opened at Rs. 21.15 and has touched a high and low of Rs. 21.80 and Rs. 21.00 respectively. So far 1147639 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.00 on 30-Jun-2021 and a 52 week low of Rs. 10.94 on 15-Feb-2021. Last one week high and low of the scrip stood a...
Indian Overseas Bank shines on reporting above 2- fold jump in Q3 net profit
Indian Overseas Bank shines on reporting above 2- fold jump in Q3 net profit
Source: Accord Fintech
2/02/2022 3:37:16 PM
Key News - Star Health and Allied Insurance Company Ltd, SpiceJet Ltd, Indian Overseas Bank Ltd, Reliance Industries Ltd, Star Union Dai-ichi By ARETE Securities Key News Star Health looking to raise Rs 7k cr via IPO Indian health insurance provider Star Health and Allied Insurance Co is aiming for a valuation of about $7 billion in its initial public offering, a banking source told Reuters on Wednesday. It is looking to raise Rs 7,249 crore ($974.23 million) and has set a price band between Rs 870 and Rs 900 per share, according to a document from a bookrunner. The offer will open for subscription on Nov. 30 and comes as several firms, includin...
Key News - Star Health and Allied Insurance Company Ltd, SpiceJet Ltd, Indian Overseas Bank Ltd, Reliance Industries Ltd, Star Union Dai-ichi By ARETE Securities
Key News - Star Health and Allied Insurance Company Ltd, SpiceJet Ltd, Indian Overseas Bank Ltd, Reliance Industries Ltd, Star Union Dai-ichi By ARETE Securities
Source: ARETE Securities Ltd
25/11/2021 10:07:32 AM
IOB posts Rs 376 crore net for Q2 Public sector Indian Overseas Bank (IOB) closed the second quarter of the current fiscal with a net profit of Rs 376.41 crore. In a regulatory filing on Wednesday, IOB said it closed the second quarter with a net profit of Rs 376.41 crore and a total income of Rs 5,375.76 crore. The bank has logged a net profit of Rs 148.14 crore and a total income of Rs 5,430.58 crore for the previous year corresponding period. For the quarter under review IOB's total provision stood at Rs 1,036...
IOB posts Rs 376 crore net for Q2
IOB posts Rs 376 crore net for Q2
Source: IANS
27/10/2021 3:43:26 PM
Indian Overseas Bank Announces festival offers Chennai, September 30, 2021: Indian Overseas Bank (IOB), a leading public sector bank headquartered in Chennai, announced several festival offers for its customers. These offers will be extended upto December 31, 2021. The offers include… * 100% waiver of processing charges for Housing Loan (Subhagruha) * Concession on interest rates on Housing loans (Subhagruha) for women borrowers * 100% waiver of processing charges for Vehicle loans (Pushpaka) IOB will offer all loan ...
Indian Overseas Bank Announces festival offers
Indian Overseas Bank Announces festival offers
Source: PR Agency
30/09/2021 4:18:02 PM
Indian Overseas Bank gains on reporting 2-fold jump in Q4 net profit Indian Overseas Bank is currently trading at Rs. 21.30, up by 0.20 points or 0.95% from its previous closing of Rs. 21.10 on the BSE. The scrip opened at Rs. 21.60 and has touched a high and low of Rs. 21.80 and Rs. 21.20 respectively. So far 966277 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.45 on 08-Jun-2021 and a 52 week low of Rs. 8.80 on 16-Oct-2020. Last one week high and low of the scrip stood at ...
Indian Overseas Bank gains on reporting 2-fold jump in Q4 net profit
Indian Overseas Bank gains on reporting 2-fold jump in Q4 net profit
Source: Reuters
15/06/2021 10:21:40 AM
IOB posts Rs 831 cr profit, follow-up equity issue planned City based Indian Overseas Bank (IOB) plans to raise additional funds from a follow-on equity issue and Rs.1,000 crore by issue of bond. The bank closed last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. In a regulatory filing on Monday, IOB said its Board has approved the issue of 125 crore equity shares at an appropriate premium to ...
IOB posts Rs 831 cr profit, follow-up equity issue planned
IOB posts Rs 831 cr profit, follow-up equity issue planned
Source: IANS
14/06/2021 3:56:17 PM
Indian Overseas Bank appoints Ernst & Young as digital consultant Indian Overseas Bank (IOB) on Thursday said that it has appointed Ernst & Young (EY) as its digital consultant. According to IOB, the digital consultant would help it to stay focussed on leveraging and adopting new technologies and to enhance the service quality and service delivery to its customers. With this new initiative, the Bank is poised to attract Millennial customers who are tech-savvy. The bank will now be confident of providing all customers a hassle free and seamless ban...
Indian Overseas Bank appoints Ernst & Young as digital consultant
Indian Overseas Bank appoints Ernst & Young as digital consultant
Source: IANS
22/04/2021 2:33:51 PM
Moody`s withdraws ratings of IOB, Central Bank of India Global credit rating agency Moody's Investors Service on Tuesday said it has withdrawn the ratings, assessments and outlooks of the Indian Overseas Bank, IOB's Hong Kong Branch and the Central Bank of India. Moody's said it has decided to withdraw the ratings for its own business reasons. As regards the IOB, the following ratings and the outlook has been withdrawn: the Long-term Counterparty Risk Ratings (Foreign and Local Currency) of Ba2, the Short-term Counterparty Risk R...
Moody`s withdraws ratings of IOB, Central Bank of India
Moody`s withdraws ratings of IOB, Central Bank of India
Source: IANS
23/03/2021 5:16:00 PM