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Latest news about Indian Overseas Bank

Government Plans 4% Stake Sale in Indian Overseas Bank Through QIP to Meet FY26 Divestment Targets 3 hrs ago Today

Government announces plan to sell 4% stake in Indian Overseas Bank via QIP route to achieve FY26 divestment objectives. The stake sale represents part of broader fiscal consolidation strategy and public sector banking portfolio optimization. QIP mechanism will ensure transparent price discovery and institutional investor participation in the divestment process.

Indian Overseas Bank Issues Strike Notice for January 27, 2026 Operations 10 days ago

Indian Overseas Bank's ₹1,000 Crore Basel III Tier II Bonds Oversubscribed by 6.52 Times Jan 23, 2026

Indian Overseas Bank Reports First Double-Digit Deposit Growth in Two Years Jan 20, 2026

Indian Overseas Bank Projects ₹1,400-1,500 Crore Bad Loan Recovery in Q4 with NPA Reduction Target Jan 16, 2026

More news about Indian Overseas Bank

16Jan 26

IOB Projects Strong Financial Performance with 18.40% Capital Adequacy by Dec 2025

Indian Overseas Bank has announced strong financial projections with CFO forecasting 18.40% capital adequacy ratio by December 2025 and net profit of Rs. 3,700 crore from three quarters. The bank maintains its 24-25% credit growth target across all sectors while planning dividend distribution and targeting net interest margin of 3.3-3.4%.

15Jan 26

Indian Overseas Bank Q3 FY26 Net Profit Jumps 56.2% to ₹1,365 Crores

Indian Overseas Bank reported strong Q3 FY26 results with net profit after tax surging 56.2% year-on-year to ₹1,365.12 crores. Total income from operations grew 15.0% to ₹9,671.58 crores, while the bank's networth strengthened significantly to ₹26,771.30 crores from ₹20,154.73 crores. Earnings per share improved to ₹0.71 from ₹0.46, demonstrating enhanced operational efficiency and strong financial performance trajectory.

15Jan 26

IOB and Punjab & Sind Bank Plan ₹7,000 Crore Share Sale Through QIP

Indian Overseas Bank and Punjab & Sind Bank have announced plans to raise a combined ₹7,000 crore through qualified institutional placements this quarter. IOB targets ₹4,000 crore and has received all regulatory approvals, currently appointing merchant bankers for the process. Punjab & Sind Bank aims to raise ₹3,000 crore and will hold an extraordinary general meeting on January 21 for shareholder approval.

14Jan 26

Indian Overseas Bank Plans ₹4,000 Crore Capital Raise in Q4 Through QIP

Indian Overseas Bank plans to raise ₹4,000 crore through QIP in the current quarter, with timing dependent on market conditions. The Board-approved fundraising will dilute government stake by 4%. The announcement follows strong Q3 FY25 results showing 56.20% net profit growth to ₹1,365 crore and 18.70% business growth to ₹6.44 lakh crore, with the bank exceeding its 13-14% growth guidance by achieving 24% growth.

14Jan 26

Indian Overseas Bank Makes Q3FY26 Earnings Call Recording Available to Investors

Indian Overseas Bank has made available the recording of its Q3FY26 earnings conference call held on January 14, 2026, at 5:00 PM IST. The call covered the bank's financial performance for the quarter and nine months ended December 31, 2025, with participation from analysts and investors. The recording is now accessible on the bank's website, following SEBI disclosure requirements and the bank's earlier intimation dated January 9, 2026.

14Jan 26

IOB, Punjab & Sind Bank Plan QIPs to Raise ₹7,000 Crore This Quarter

Indian Overseas Bank and Punjab & Sind Bank have announced plans to raise a combined ₹7,000 crore through QIPs this quarter. IOB has secured all approvals and will execute the ₹4,000 crore fundraising by March, reducing government stake by 4% from current 92.4%. Punjab & Sind Bank will raise ₹3,000 crore following EGM approval on January 21. Both banks face challenges in meeting the August deadline for minimum 25% public shareholding compliance.

14Jan 26

Indian Overseas Bank Files Security Cover Certificate for Q3FY26 Under SEBI LODR Regulations

Indian Overseas Bank filed its Q3FY26 Security Cover Certificate with stock exchanges, covering ₹2,165.00 crores in outstanding unsecured debt securities. Independent auditors verified regulatory compliance, with the bank maintaining stable AA credit ratings and meeting all covenant requirements including a 16.30% Capital Adequacy Ratio.

14Jan 26

Indian Overseas Bank Reports Improved Asset Quality in Q3 with Lower GNPA and NNPA Ratios

Indian Overseas Bank reported improved asset quality in Q3 with GNPA ratio declining to 1.54% from 1.83% quarter-on-quarter and NNPA ratio reducing to 0.24% from 0.28% QoQ. The 29 basis points improvement in GNPA and 4 basis points decline in NNPA demonstrate the bank's effective loan portfolio management and recovery efforts.

14Jan 26

Indian Overseas Bank Q3 profit jumps 56% on loan growth, asset quality

Indian Overseas Bank delivered strong Q3 performance with net profit surging 56% to ₹1,365 crore, supported by robust 24% advances growth and improved asset quality. The bank's NII grew 18% while operating profit increased 15%, with gross NPAs declining to 1.55% and proactive ECL provisioning of ₹1,500 crore.

14Jan 26

Indian Overseas Bank Reduces Overnight MCLR by 5 Basis Points to 7.95%

Indian Overseas Bank has reduced its overnight MCLR by 5 basis points to 7.95% effective January 15, following approval by its Asset Liability Management Committee on January 13. While the rate cut will have limited impact on existing borrowers linked to longer-term MCLR tenors, new borrowers can expect interest rates between 8.30% to 8.85% depending on loan tenure. Concurrently, the government has launched an OFS to sell up to 2% of the bank's equity with a greenshoe option for an additional 1%, as part of its divestment strategy.

13Jan 26

Indian Overseas Bank Reduces Overnight MCLR by 5 Basis Points to 7.95%

Indian Overseas Bank has reduced its overnight MCLR by 5 basis points to 7.95% effective January 15, 2026, while maintaining all other tenor rates unchanged. The decision was approved by the bank's ALCO following a review on January 13, 2026. The rate structure now ranges from 7.95% for overnight to 8.85% for three-year tenor, with limited impact expected on existing borrowers.

13Jan 26

Indian Overseas Bank Reduces Overnight MCLR by 5 Basis Points to 7.95%

Indian Overseas Bank has reduced its overnight MCLR by 5 basis points to 7.95% effective January 15, 2026, following an ALCO meeting decision on January 13, 2026. While the overnight rate decreased from 8.00%, all other tenor rates from one-month to three-year periods remain unchanged, ranging from 8.30% to 8.85%. The selective adjustment reflects a strategic approach to interest rate management while providing relief to borrowers linked to the overnight benchmark.

13Jan 26

Indian Overseas Bank Maintains One-Year MCLR at 8.80%

Indian Overseas Bank has maintained its one-year Marginal Cost of Funds based Lending Rate at 8.80%, keeping the key benchmark unchanged. This decision affects loan pricing for both existing and new borrowers, providing rate stability in the current market environment.

09Jan 26

Indian Overseas Bank Schedules Analyst Meet for January 14, 2026 to Discuss Q3FY26 Financial Results

Indian Overseas Bank has scheduled an analyst conference call for January 14, 2026, at 5:00 PM IST to discuss Q3FY26 unaudited financial results for the quarter and nine months ended December 31, 2025. The meeting will feature senior management including MD & CEO Ajay Kumar Srivastava and Executive Directors, with comprehensive dial-in access provided for domestic and international participants. The announcement complies with SEBI regulations and reflects the bank's commitment to transparent stakeholder communication.

06Jan 26

Indian Overseas Bank Fined ₹2.90 Lakhs by Central Bank of Sri Lanka for Compliance Violations

Indian Overseas Bank disclosed a ₹2.90 lakhs monetary penalty imposed by Central Bank of Sri Lanka on its Colombo branch for violations of Financial Transactions Reporting Act during March-June 2025 inspection. The bank responded to regulatory concerns and received acknowledgment from CBSL for corrective measures taken. The financial impact is characterized as not material, limited to the penalty amount.

31Dec 25

Indian Overseas Bank Announces Senior Management Change: S. Alagarsamy Assumes General Manager Role

Indian Overseas Bank has appointed Shri S. Alagarsamy as General Manager for Accounts and EDMD departments effective December 31, 2025. Alagarsamy, who returns from deputation to GIC of India, brings over 34 years of banking experience since joining the bank in September 1991. He holds multiple professional certifications including CAIIB, risk management, IT security, and specialized credentials in accounting, treasury, and credit operations.

30Dec 25

Indian Overseas Bank Receives RBI Approval to Establish IFSC Banking Unit at GIFT City

Indian Overseas Bank has received approval from the Reserve Bank of India to establish an International Financial Services Centre Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City). This move allows the public sector bank to expand its international financial services capabilities and overseas operations. The IBU will enable the bank to offer specialized banking services for international clients and cross-border transactions within the IFSC framework.

29Dec 25

Indian Overseas Bank Gets RBI Nod to Set Up IFSC Banking Unit at GIFT City

Indian Overseas Bank has secured RBI approval to establish an International Financial Services Centre banking unit at GIFT City in Gujarat. The approval, communicated through an official RBI letter dated December 29, 2025, represents a strategic expansion for the public sector bank into India's premier international financial hub, enabling it to offer specialized banking services under the IFSC regulatory framework.

19Dec 25

Indian Overseas Bank Receives $25.7M from Malaysia Subsidiary Liquidation

Indian Overseas Bank has received an interim distribution of $25,717,298.33 from the Members Voluntary Liquidation (MVL) of its Malaysian subsidiary, India International Bank (Malaysia) Bhd. The bank held a 35% stake in this joint venture with Bank of Baroda and Union Bank of India. This distribution represents a capital repatriation from the ongoing liquidation process. The bank has disclosed this information in compliance with SEBI regulations.

16Dec 25

IOB: Government Files Regulation 29 Disclosure for Completed OFS Transaction

The Government of India has filed mandatory Regulation 29 disclosure with stock exchanges confirming successful completion of Indian Overseas Bank OFS transaction. The sale involved 417.84 million equity shares conducted on December 17-18, 2025, reducing government shareholding from 94.61% to 92.44% while maintaining promoter status.

11Dec 25

Indian Overseas Bank Reduces MCLR by 5 bps and EBLR by 25 bps Effective December 15, 2025

Indian Overseas Bank has reduced its MCLR by 5 basis points across three-month, six-month, and one-year tenors, and cut its External Benchmark Lending Rate by 25 basis points, both effective December 15, 2025. The decisions were made by the bank's ALCO on December 11, 2025, following RBI's repo rate reduction of 25 basis points announced during the December 3-5, 2025 MPC meeting. The Repo Linked Lending Rate will decrease from 8.35% to 8.10%, benefiting borrowers across various loan categories.

03Dec 25

Indian Overseas Bank Announces Changes in Directorate

Indian Overseas Bank has announced significant changes in its directorate, appointing new directors to its board. This move is part of the bank's efforts to strengthen its leadership team. The changes may impact the bank's strategic direction and governance, with potential implications for future policies and performance.

28Nov 25

Indian Overseas Bank Demonstrates Robust H1 FY26 Performance with Improved Asset Quality and Digital Growth

Indian Overseas Bank (IOB) announced strong financial results for H1 FY26, with net profit rising 65.74% to ₹2,337 crores from ₹1,410 crores in H1 FY25. The bank's asset quality improved significantly, with Gross NPA at 1.83% and Net NPA at 0.28%. IOB maintained a robust Capital Adequacy Ratio of 17.45%. The bank's digital infrastructure expanded, with 37.10 lakh internet banking users and 140.00 lakh mobile banking users. Net Interest Margin stood at 3.21% and Return on Equity at 19.95%, indicating improved operational performance.

25Nov 25

Indian Overseas Bank Receives ₹835.08 Crore Income Tax Refund, Boosting Financial Position

Indian Overseas Bank (IOB) has received an income tax refund of ₹835.08 crore for the Assessment Year 2022-23, following an appellate order under Section 250 of the Income Tax Act. The refund, which includes interest, was ordered on November 21, 2023, as a result of the Commissioner of Income Tax (Appeals) decision. IOB disclosed this information to stock exchanges on November 24, 2023, in compliance with SEBI regulations. The refund amount represents approximately 2.47% of IOB's current assets as of March 2023 and is expected to positively impact the bank's financial position.

07Nov 25

Indian Overseas Bank Partners with NPST to Launch Voice-Based UPI 123Pay

Indian Overseas Bank (IOB) has partnered with Network People Services Technologies Limited (NPST) to implement UPI 123Pay, a voice-based payment system. This system targets 850 million Indians, including 400 million feature phone users and smartphone users uncomfortable with digital interfaces. UPI 123Pay operates without internet, supports 12 Indian languages, and offers services like balance checks and transaction history. Users can initiate transactions via missed calls and IVR callbacks. NPST plans to integrate the system with AI platforms like Alexa and Google Assistant in the future.

05Nov 25

Indian Overseas Bank Appoints Sole Nominee as Shareholder Director, Cancels EGM

Indian Overseas Bank (IOB) has cancelled its Extraordinary General Meeting scheduled for November 20, 2025, after receiving only one valid nomination for the shareholder director position. Shri G. Venkataramanan, 60, has been elected to the role. He brings over 35 years of experience in the life insurance sector, having previously served as Zonal Manager In-Charge of LIC's South Zone. Venkataramanan's tenure will run from December 3, 2025 to December 2, 2028. The appointment complies with various banking regulations and fit and proper criteria for elected directors on public sector bank boards.

22Oct 25

Indian Overseas Bank Achieves Record Q2 Net Profit of ₹1,226 Crores, Up 57.79% YoY

Indian Overseas Bank (IOB) achieved a record net profit of ₹1,226 crores in Q2, up 57.79% year-on-year. The bank's total business mix grew by 14.10% to ₹617,034 crores, with credit growth of 20.78%. Asset quality improved significantly, with gross NPA ratio decreasing to 1.83% from 2.72%. The bank maintains a strong capital adequacy ratio of 17.94% and plans to open approximately 240 new branches.

16Oct 25

IOB Reports 58% Jump in Q2 Net Profit, Asset Quality Improves with 14.6% Growth in Interest Income

Indian Overseas Bank (IOB) has reported a 58% year-on-year increase in net profit for Q2, reaching ₹1,226.42 crore. The bank's interest income grew by 14.6% to ₹7,850 crore. Asset quality improved with Gross Non-Performing Assets (GNPA) declining to 1.83% and Net Non-Performing Assets (NNPA) decreasing to 0.28%. Total income rose by 34.5% to ₹9,214.24 crore, while net interest income increased by 20.6% to ₹3,059.14 crore. The bank's Capital Adequacy Ratio strengthened to 17.94%, and its Provision Coverage Ratio improved to 97.48%.

15Oct 25

Indian Overseas Bank Re-appoints Cameo Corporate Services as Registrar & Share Transfer Agent

Indian Overseas Bank (IOB) has re-appointed Cameo Corporate Services Ltd. as its Registrar & Share Transfer Agent (RTA) through an open tender process. The new contract will be effective from November 1, 2025, following the expiration of the current contract on October 31, 2025. Cameo Corporate Services, with SEBI Registration No. INR000003753, will continue to handle share transfers, shareholder communications, and related services for IOB. This decision was made by the bank's Board of Directors and announced in compliance with SEBI regulations.

11Oct 25

Indian Overseas Bank to Host Analyst Conference Call for Q2 FY2026 Results

Indian Overseas Bank (IOB) has announced an analyst conference call on October 16, 2025, at 4:30 PM IST to discuss its unaudited financial results for Q2 and H1 FY2026. Key management participants include MD & CEO Ajay Kumar Srivastava and Executive Directors Joydeep Dutta Roy and Dhanaraj T. The bank has provided access details for domestic and international participants. IOB reported an operating profit of ₹2,358 crores and a net profit of ₹1,111 crores in the previous quarter. The bank has closed its trading window for designated persons from October 1 to October 18, 2025, in compliance with SEBI regulations.

03Oct 25

Indian Bank Reports Double-Digit Growth in Deposits and Advances

Indian Overseas Bank has announced significant growth in its key financial metrics for the period ending September. The bank reported a 12.00% year-on-year increase in total deposits and a 12.90% year-on-year rise in gross advances. This balanced growth across both deposits and advances indicates a strong market position and sustainable growth trajectory for the bank.

30Sept 25

Indian Overseas Bank Waives Minimum Balance Charges, Faces RBI Penalty

Indian Overseas Bank (IOB) announced the waiver of penal charges for non-maintenance of minimum average balance in regular savings accounts from October 1, 2025. This applies to SB-Public accounts but excludes premium savings accounts. Separately, RBI imposed a ₹31.80 lakh penalty on IOB for non-compliance with Priority Sector Lending directions, specifically for collecting loan-related charges on PSL accounts with sanctioned loans up to ₹25,000. Despite the penalty, IOB's shares closed 2.67% higher at ₹39.54, though they've declined 31.51% over the past year.

16Sept 25

Indian Overseas Bank Extends Executive Director Joydeep Dutta Roy's Tenure by Three Years

The Central Government has extended Joydeep Dutta Roy's tenure as Executive Director of Indian Overseas Bank for an additional three years beyond October 20, 2025, or until further orders. The extension was granted under the Banking Companies Act, 1970, and the Nationalized Banks Scheme, 1970. The bank has informed stock exchanges of this development in compliance with SEBI regulations.

11Sept 25

Indian Overseas Bank Cuts MCLR by 5 Basis Points for Select Tenors

Indian Overseas Bank (IOB) has reduced its Marginal Cost of Funds based Lending Rate (MCLR) by 5 basis points for select tenors, effective September 15, 2025. The overnight MCLR is now 8.00%, while one-year and two-year rates are 8.85%, and the three-year rate is 8.90%. Rates for one-month, three-month, and six-month tenors remain unchanged. This reduction could lead to lower interest rates for borrowers with long-term loans linked to these benchmarks.

15Aug 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 tenures, effective August 15. This is the second MCLR reduction in a month. The overnight MCLR is now 8.05%, while the one-year MCLR is 8.90%. The rate cut is expected to benefit both existing and new borrowers, potentially leading to reduced EMIs and increased demand for retail loans.

11Aug 25

Indian Overseas Bank Slashes MCLR and Base Rate, Effective August 15

Indian Overseas Bank (IOB) has announced reductions in its lending rates. The Marginal Cost of Funds Based Lending Rate (MCLR) has been cut by 10 basis points across all tenors, while the Base Rate has been reduced by 20 basis points to 9.80%. These changes, effective from August 15, are expected to lower borrowing costs for IOB customers. The MCLR for various tenors now ranges from 8.05% to 8.95%.

31Jul 25

Indian Overseas Bank Appoints Advisor to Sell Rs 12,000 Crore NPAs

Indian Overseas Bank (IOB) has appointed Special Situation Advisors India to manage the sale of non-performing assets (NPAs) worth Rs 12,224 crore. The portfolio includes 67 large corporate accounts, with IOB holding less than 10% exposure in most cases. The advisor, selected through a competitive bidding process, has four months to find potential buyers for these stressed assets. This move aims to improve IOB's balance sheet and financial health.

25Jul 25

Indian Overseas Bank Settles Anti-Money Laundering Penalty with Hong Kong Monetary Authority

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.

24Jul 25

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

Indian Bank posted a net profit of ₹2,973.00 crore in Q1, up 23.7% year-over-year. Net Interest Income grew by 2.9% to ₹6,359.00 crore. Asset quality improved with Gross NPA at 3.01% and Net NPA at 0.18%. The bank announced an Analyst Meet for July 29, 2025, to discuss Q1 performance. Indian Bank operates 3,345 domestic branches and serves over 41 million active accounts.

23Jul 25

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

Indian Overseas Bank (IOB) will hold an analyst meet on July 29, 2025, in Mumbai to discuss Q1 financial performance. The bank reported an operating profit of ₹2,358 crores and a net profit of ₹1,111 crores for the quarter ended June 30, 2025. Key management, including MD & CEO Ajay Kumar Srivastava, will be present. IOB operates 3,345 branches in India and has an international presence. The bank recently faced disciplinary action from Hong Kong's monetary authority for regulatory contraventions.

20Jul 25

Indian Overseas Bank Achieves Record Profits, Receives Substantial Tax Refund

Indian Overseas Bank (IOB) has achieved its highest-ever net profit of Rs 1,111.00 crore in the April-June quarter, a 76% increase year-over-year. The bank has set ambitious targets for the financial year, including 12-13% credit growth and a recovery target of Rs 4,500.00 crore. IOB's gold loan portfolio continues to show strong performance with 37-38% annual growth. The bank plans to raise Rs 4,000.00 crore in the third quarter and is seeking approval to open a branch in GIFT City, Gandhinagar. Additionally, IOB has received a tax refund of Rs 1,146.07 crore from the Income Tax Department for the Assessment Year 2015-16.

19Jul 25

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

Indian Overseas Bank (IOB) has been directed to refund ₹1,146.07 crores to the Income Tax Department. The order, issued under Section 154 of the Income Tax Act, 1961, pertains to the Assessment Year 2015-16 and includes interest under Section 244A. IOB disclosed this information in compliance with SEBI regulations.

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.