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Indian Overseas Bank Reports 24.32% increase in Net Profit for Q2FY25 Indian Overseas Bank (IOB) has announced robust financial results for the quarter ending September 30, 2024 (Q2FY25), reflecting strong growth across key financial metrics and a continued focus on asset quality improvement. Key Highlights: * Total Business saw a significant year-on-year (Y-o-Y) growth of 12.20%, reaching Rs 5,40,801 Crore, up from Rs 4,82,006 Crore. * Total Deposits rose by 13.75% Y-o-Y to Rs 3,10,652 Crore. * Gross Advances increased by 10.16% to R...
Indian Overseas Bank Reports 24.32% increase in Net Profit for Q2FY25
Indian Overseas Bank Reports 24.32% increase in Net Profit for Q2FY25
Source: PR Agency
2024-10-20 09:28:10 am
Quote on Budget Reaction by Mr Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank Below the Quote on Budget Reaction by Mr Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank   The focus given in the Union Budget 2024 to the MSME sector is going to provide a huge boost to the growing number of entrepreneurs in the country. The initiatives announced such as - credit guarantee schemes for MSMEs, increasing the limit of Mudra loans to INR 20 lakhs to those who have paid back the loans earlier, creating alternate methods to evaluate eligibility ...
Quote on Budget Reaction by Mr Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank
Quote on Budget Reaction by Mr Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank
Source: PR Agency
2024-07-24 12:06:54 pm
Quote on today`s RBI MPC announcement by Mr. Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank Below the Quote on today’s RBI MPC announcement by Mr. Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank   We welcome the decision of RBI maintaining a status quo on the repo rate by keeping it unchanged at 6.5% and its GDP growth expectation at 7.2% for FY24. The decision to continue remaining focused on the withdrawal of accommodation reflects a balanced approach to sustain economic growth while keeping inflation in check. RBI’s decision on e-ma...
Quote on today`s RBI MPC announcement by Mr. Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank
Quote on today`s RBI MPC announcement by Mr. Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank
Source: PR Agency
2024-06-07 04:37:39 pm
Indian Overseas Bank Q4 FY24 Results Indian Overseas Bank (IOB) proudly announces its highest-ever net profit of Rs.808 Crores for the fourth quarter and Rs.2,656 Crores for the fiscal year ending March 31, 2024. Demonstrating robust financial performance, the bank's operating profit for the year grew by 13.83%, accompanied by a remarkable 26.54% increase in net profit. A key highlight of the fiscal year was IOB's exceptional control over slippages, with only Rs.1517 Crores slippages, accounting for 0.87% of performin...
Indian Overseas Bank Q4 FY24 Results
Indian Overseas Bank Q4 FY24 Results
Source: PR Agency
2024-05-10 09:36:53 am
Indian Overseas Bank: Harmonizing Progress through reduction of NPA Indian Overseas Bank in its concerted efforts towards reduction of NPA has embraced multi-pronged approach to ensure maximum recovery in NPA accounts. This dedicated endeavour has yielded a notable decline in our Gross NPA (GNPA) levels, plummeting from 11.69% as of 31.03.2021, to a commendable 3.90% by 31.12.2023. IOB has diligently implemented timely recovery measures, including SARFAESI actions, Compromise Settlement Schemes and sale to ARCs, resulting in enhanced recovery outcomes. Additi...
Indian Overseas Bank: Harmonizing Progress through reduction of NPA
Indian Overseas Bank: Harmonizing Progress through reduction of NPA
Source: PR Agency
2024-05-06 09:34:52 am
Indian Overseas Bank Enables Online Donations for Kashi Vishwanath Temple Indian Overseas Bank has launched an online facility for donations to Shree Kashi Vishwanath Mandir Trust. This initiative marks as a significant milestone for the bank towards embracing technology to preserve and enhance the sanctity of the cultural heritage site.   On the sidelines of the online facility launch, the bank has opened its first saving bank account for the Shree Kashi Vishwanath Mandir Trust at Varanasi Cantonment to facilitate donations to the temple. Devotees who w...
Indian Overseas Bank Enables Online Donations for Kashi Vishwanath Temple
Indian Overseas Bank Enables Online Donations for Kashi Vishwanath Temple
Source: PR Agency
2024-04-19 08:55:32 am
Innovative Jewel loan Offerings from Indian Overseas Bank (IOB) IOB proudly announces the launch of two innovative jewel loan products, spearheaded by Shri Ajay Kumar Srivastava, MD & CEO. These offerings signify the bank's unwavering commitment to customer-centric banking and its ambition to revolutionize the financial landscape. IOB Gold Powered Card: Redefining Convenience IOB Gold Powered Card is a pioneering solution granting customers with instant access to a card linked directly to their jewel loan overdraft accounts. Revolutionizin...
Innovative Jewel loan Offerings from Indian Overseas Bank (IOB)
Innovative Jewel loan Offerings from Indian Overseas Bank (IOB)
Source: PR Agency
2024-03-21 10:32:33 am
Shri Dhanaraj T assumes the position of Executive Director at Indian Overseas Bank Shri Dhanaraj T, 53 years old, has taken charge as the Executive Director of Indian Overseas Bank for a three-year term, effective March 10th, 2024. Prior to this role, he served as the Chief General Manager at Indian Bank and commenced his career as a Rural Development Officer in 1994.   Shri T Dhanaraj holds an Agricultural Engineering Degree from Tamil Nadu Agricultural University, accompanied by additional qualifications such as CAlIB and completion of a 'Leadership Develop...
Shri Dhanaraj T assumes the position of Executive Director at Indian Overseas Bank
Shri Dhanaraj T assumes the position of Executive Director at Indian Overseas Bank
Source: PR Agency
2024-03-11 05:56:24 pm
IREDA inks pact with PNB for financing green energy projects Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed a Memorandum of Understanding (MoU) on Monday aimed at advancing renewable energy initiatives across the nation. The agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of renewable energy projects. It covers joint lending, loan syndication and underwriting, management of Trust and Retention Account (TRA) for IREDA borrowers, and working towa...
IREDA inks pact with PNB for financing green energy projects
IREDA inks pact with PNB for financing green energy projects
Source: IANS
2024-02-19 02:37:21 pm
Indian Overseas Bank jumps on partnering with IREDA Indian Overseas Bank is currently trading at Rs. 44.20, up by 0.61 points or 1.40% from its previous closing of Rs. 43.59 on the BSE. The scrip opened at Rs. 43.55 and has touched a high and low of Rs. 44.82 and Rs. 42.05 respectively. So far 2904273 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 51.00 on 04-Oct-2023 and a 52 week low of Rs. 20.87 on 28-Mar-2023. Last one week high and low of the scrip stood a...
Indian Overseas Bank jumps on partnering with IREDA
Indian Overseas Bank jumps on partnering with IREDA
Source: Accord Fintech
2024-01-18 03:24:10 pm
IREDA ropes in Indian Overseas Bank for co-lending to green projects The Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with the Indian Overseas Bank for co-lending and loan syndication in financing renewable energy projects across the nation, the Ministry for New and Renewable Energy announced on Thursday. The partnership aims to streamline loan syndication and underwriting processes, management of trust and retention account (TRA) for IREDA borrowers, and work towards fixed interest rates over a 3 to...
IREDA ropes in Indian Overseas Bank for co-lending to green projects
IREDA ropes in Indian Overseas Bank for co-lending to green projects
Source: IANS
2024-01-18 12:50:01 pm
IREDA shines on signing MoU with Indian Overseas Bank for Co-Lending Indian Renewable Energy Development Agency is currently trading at Rs. 123.35, up by 3.85 points or 3.22% from its previous closing of Rs. 119.50 on the BSE. The scrip opened at Rs. 118.25 and has touched a high and low of Rs. 125.55 and Rs. 113.95 respectively. So far 7548735 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 127.50 on 16-Jan-2024 and a 52 week low of Rs. 49.99 on 29-Nov-2023. Last one week high ...
IREDA shines on signing MoU with Indian Overseas Bank for Co-Lending
IREDA shines on signing MoU with Indian Overseas Bank for Co-Lending
Source: Accord Fintech
2024-01-17 11:16:15 am
Indian Overseas Bank trades higher on the BSE Indian Overseas Bank is currently trading at Rs. 43.90, up by 0.58 points or 1.34% from its previous closing of Rs. 43.32 on the BSE. The scrip opened at Rs. 43.30 and has touched a high and low of Rs. 44.28 and Rs. 43.14 respectively. So far 1883230 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 51.00 on 04-Oct-2023 and a 52 week low of Rs. 20.87 on 28-Mar-2023. Last one week high and low of the scrip stood a...
Indian Overseas Bank trades higher on the BSE
Indian Overseas Bank trades higher on the BSE
Source: Accord Fintech
2024-01-01 03:37:57 pm
Indian Overseas Bank posts Rs 624.34 cr PAT for Q2 Public sector mortgage lender Indian Overseas Bank (IOB) on Friday said it closed the second quarter of FY24 with a 24.75 per cent growth in net profit. In a regulatory filing IOB said for the quarter ended September 30, it had booked a total income of Rs 6,935.21 crore (Q2FY23 Rs 5,852.45 crore) and a net profit of about Rs 624.58 crore (Rs 501.34 crore). According to IOB, its interest income stood at Rs 5,821 crore for the quarter ended September 30, 2023 as against Rs 4,718 cror...
Indian Overseas Bank posts Rs 624.34 cr PAT for Q2
Indian Overseas Bank posts Rs 624.34 cr PAT for Q2
Source: IANS
2023-10-27 04:05:30 pm
PSU banks are best-performing bank stocks among Asia-Pacific peers India's state-owned lenders posted the best-performing bank stocks among the country's Asia-Pacific peers in the quarter ended September 30, reflecting growing investor interest and the banks' stronger financials metrics, according to S&P Global Market Intelligence.Indian state-owned banks occupied 10 of the top 15 slots, dominating the rankings for the second straight quarter.?Indian Overseas Bank's share price rose 91.60 per cent in the quarter to sit atop the list of 15 Asia-Pacific banks,...
PSU banks are best-performing bank stocks among Asia-Pacific peers
PSU banks are best-performing bank stocks among Asia-Pacific peers
Source: IANS
2023-10-09 01:58:59 pm
Indian Overseas Bank saw its market capitalization nearly double during July-September quarter Indian Overseas Bank saw its market capitalization nearly double during the July-to-September quarter, according to S&P Global Market Intelligence data.A 91.60 per cent gain propelled the state-owned lender to the eighth place in the top 20 Indian banks by market capitalization as of September 30, from rank 14 three months ago.Five other public sector banks rose in the market cap rankings over the previous quarter. Central Bank of India's market cap grew 76.59 per cent over the previ...
Indian Overseas Bank saw its market capitalization nearly double during July-September quarter
Indian Overseas Bank saw its market capitalization nearly double during July-September quarter
Source: IANS
2023-10-05 04:07:47 pm