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Latest news about Indian Overseas Bank

Indian Overseas Bank Settles Anti-Money Laundering Penalty with Hong Kong Monetary Authority 13 hours ago Yesterday

Indian Overseas Bank (IOB) has received approval to settle a HK$8,500,000 (approx. INR 9.29 crores) penalty imposed by the Hong Kong Monetary Authority for anti-money laundering violations. The bank states this settlement won't materially impact its operations. IOB must conduct a review, submit a remedial plan, and have an independent assessment of its measures. The bank is strengthening internal processes and enhancing staff training to prevent future issues.

Indian Bank Reports 24% Surge in Q1 Net Profit, Schedules Analyst Meet 1 day ago

Indian Overseas Bank to Host Analyst Meet, Showcasing Strong Q1 Performance 2 days ago

Indian Overseas Bank Achieves Record Profits, Receives Substantial Tax Refund 5 days ago

Indian Overseas Bank Ordered to Refund ₹1,146.07 Crores to Income Tax Department 6 days ago

More news about Indian Overseas Bank

18Jul 25

Indian Overseas Bank: Q1 Profit Surges 76%, Asset Quality Improves

Indian Overseas Bank (IOB) announced impressive Q1 results with net profit soaring 76% year-over-year to ₹1,111.00 crore. Net Interest Income grew by 13%, while asset quality improved with Gross NPA ratio decreasing to 1.97% from 2.14% in the previous quarter. The bank also reported reduced provisions at ₹844.00 crore and a lower Net NPA ratio of 0.32%, indicating effective asset management and potentially lower credit risks.

15Jul 25

Indian Overseas Bank Slashes MCLR by 10 Basis Points Across All Tenures

Indian Overseas Bank (IOB) has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points across all loan tenures, effective from July 15, 2025. The overnight MCLR is now 8.15%, one-month 8.40%, three-month 8.55%, six-month 8.80%, one-year and two-year 9.00%, and three-year 9.05%. This follows a previous 50 basis point reduction in the bank's Repo Linked Lending Rate to 8.35%, effective from June 12, 2025. The decision was made by the bank's Assets and Liabilities Management Committee on July 10, 2025, and officially announced on July 14, 2025.

03Jul 25

Indian Overseas Bank Shareholders Greenlight Rs 4,000 Crore Capital Raise

Indian Overseas Bank (IOB) has received shareholder approval to raise up to Rs 4,000 crore in equity capital. The fundraising plan, set for fiscal year 2026, includes options like Qualified Institutional Placements, rights issues, and employee stock schemes. Shareholders also approved the IOB-ESPS 2025-26 scheme, allowing equity issuance to permanent employees. The capital raise will be implemented in one or more tranches, providing flexibility to adapt to market conditions and capital needs.

02Jul 25

Indian Overseas Bank Shareholders Greenlight ₹4,000 Crore Capital Raise Plan

Indian Overseas Bank (IOB) shareholders have approved a plan to raise up to ₹4,000 crore in equity capital for the fiscal year 2025-26. The plan includes various fundraising instruments and an employee stock purchase scheme (ESPS). Shareholders also approved the continuation of three government-nominated directors for one-year terms. This capital raise aims to strengthen the bank's financial position and support growth initiatives.

11Jun 25

Indian Overseas Bank Slashes Repo-Linked Lending Rate by 50 Basis Points

Indian Overseas Bank (IOB) has reduced its repo-linked lending rate from 8.85% to 8.35%, effective immediately. This 50 basis point cut follows recent monetary policy changes by the Reserve Bank of India, including a 50 basis point interest rate cut and a 100 basis point reduction in the cash reserve ratio. The move is expected to benefit both existing and prospective borrowers, potentially lowering EMIs or reducing loan tenures. This aligns with the broader trend in the Indian banking sector of adjusting lending rates in response to RBI policy decisions.

11Jun 25

Indian Overseas Bank Slashes Lending Rate, Reports 30% Surge in Q4 Profit

Indian Overseas Bank (IOB) announced a 50 basis points reduction in its external benchmark lending rate to 8.35%, effective June 12. The bank reported a 30% year-over-year increase in Q4 net profit to ₹1,051.00 crore, with net interest income growing by 13%. IOB's gross non-performing assets improved to 2.14%. The bank's board approved plans to raise ₹4,000.00 crore through equity and ₹1,000.00 crore via Tier-II bonds to strengthen its capital base.

02May 25

Indian Overseas Bank: Q4 Profit Rises 30%, Plans ₹5,000 Crore Capital Raise

Indian Overseas Bank (IOB) has announced strong Q4 results with a 30% year-on-year increase in net profit to ₹1,051.00 crore. Net Interest Income rose by 13% to ₹3,123.00 crore. The bank significantly improved its asset quality, reducing its Gross Non-Performing Assets ratio to 2.14%. IOB also revealed plans to raise up to ₹5,000 crore by FY2026 through various modes including FPO, QIP, and Tier-II bonds.

26Mar 25

Indian Overseas Bank Faces ₹559 Crore Income Tax Demand, Plans to Challenge

Indian Overseas Bank (IOB) has received an income tax demand notice of ₹558.96 crore for the Assessment Year 2023-24. The bank intends to challenge the order in the appropriate forum, believing it has adequate grounds to substantiate its position. IOB expects the entire demand will subside based on anticipated relief from appellate authorities and currently foresees no impact on its financial operations.

25Mar 25

Indian Overseas Bank Faces ₹559 Crore Tax Demand, Successfully Closes ₹1,437 Crore QIP

Indian Overseas Bank (IOB) received a ₹558.96 crore tax demand for AY 2023-24, which it plans to challenge. Simultaneously, IOB successfully raised ₹1,436.89 crore through a Qualified Institutional Placement (QIP), issuing 35.42 crore equity shares at ₹40.57 each. The QIP increased IOB's paid-up equity share capital to ₹19,256.59 crore, with major allottees including LIC India (34.80%), IIFL Finance (13.92%), and pension funds.

25Mar 25

Indian Overseas Bank Raises ₹1,436.90 Crore Through QIP, LIC and SBI Funds Lead Investment

Indian Overseas Bank (IOB) has successfully raised ₹1,436.90 crore through a Qualified Institutional Placement (QIP), issuing 35,41,77,539 equity shares at ₹40.57 per share. Major investors include Life Insurance Corporation of India (34.80%), IIFL Finance Limited (13.92%), and SBI and LIC Pension Fund Schemes (6.96% each). The QIP has increased IOB's paid-up equity share capital from ₹18,902.41 crore to ₹19,256.59 crore, resulting in a 1.87% dilution of total outstanding equity. This move aims to strengthen the bank's capital base, comply with regulatory requirements, and reduce government shareholding.

19Mar 25

Indian Overseas Bank Set to Raise ₹1 Lakh Crore Through Infrastructure Bonds

Indian Overseas Bank's board has approved the issuance of long-term infrastructure bonds worth ₹1,00,000 crore (approximately $12 billion). This strategic move aims to enhance the bank's lending capacity in the infrastructure sector, aligning with India's focus on infrastructure development. The substantial bond issuance is expected to boost IOB's ability to fund large-scale projects, improve asset-liability management, and strengthen its competitive position in the infrastructure lending segment.

03Mar 25

Indian Overseas Bank Faces ₹700 Crore Tax Liability Demand

Indian Overseas Bank (IOB) faces a significant financial challenge as tax authorities demand ₹700 crore (approximately $84 million USD) in tax liability. This unexpected obligation could impact the bank's financial position, shareholder confidence, and management focus. The bank has not yet released an official statement regarding the demand. The situation may lead to increased regulatory scrutiny and potential negotiations or legal proceedings.

28Feb 25

Indian Overseas Bank Faces ₹699.52 Crore GST Demand Amid Coupon Payment Announcements

Indian Overseas Bank (IOB) received a GST liability demand of ₹699.52 crore, including a ₹35.26 crore penalty, for the 2020-21 assessment year. IOB plans to contest the demand, believing it lacks legal justification. Simultaneously, the bank announced coupon payment dates for its Basel III Tier II Bonds (Series IV & V), with rates of 8.60% and 9.00% respectively, demonstrating commitment to financial obligations amid challenges.

21Feb 25

SEBI Issues Administrative Warning to Indian Overseas Bank for Governance Lapse

Indian Overseas Bank received an administrative warning from SEBI for failing to conduct a Nomination and Remuneration Committee meeting in FY 2023-24, violating SEBI regulations. The bank acknowledged the warning and committed to taking necessary steps to address the issue, stating there is no quantifiable monetary impact on its financial or operational activities.

20Feb 25

SEBI Issues Administrative Warning to Indian Overseas Bank for Non-Compliance

Indian Overseas Bank (IOB) received an administrative warning from SEBI on February 18, 2025, for failing to conduct a Nomination and Remuneration Committee meeting in fiscal year 2024, violating Regulation 19 (3A) of SEBI (LODR) Regulations, 2015. IOB has committed to addressing the issue and reported no impact on its financial or operational activities. The bank's Compliance Officer, Ram Mohan K, confirmed the bank's response to stock exchanges.

19Feb 25

Indian Overseas Bank Appoints New CFO and Receives 'AA/Stable' Long-Term Issuer Rating

Indian Overseas Bank (IOB) has appointed Madhaw Chandra Jha as its new CFO, effective March 1, 2025. Jha, a Chartered Accountant with 19 years of experience at IOB, replaces S P Mahesh Kumar. Additionally, IOB has been assigned a 'AA/Stable' Long-Term Issuer Rating by India Rating & Research Limited, with the same rating affirmed for its Basel III Tier II Bonds.