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Indian Overseas Bank

BSE Code : 532388 | NSE Symbol : IOB | ISIN:INE565A01014| SECTOR: - |



-0.05 (-0.36%) Volume 280564

20-Jul-2018 14:04:42

Prev. Close


Open Price


Bid Price (QTY)


Offer Price (QTY)



Today’s High/Low 13.95 - 13.95

52 wk High/Low 28.40 - 12.75

Key Stats

MARKET CAP (RS CR) 6798.17
P/E 0
BOOK VALUE (RS) 22.8404189
DIV (%) 0
PRICE/BOOK 0.608570274514536

News & Announcements


Indo Count Industries Ltd leads gainers in 'A' group


Volumes spurt at Indian Overseas Bank counter


Indian Overseas Bank - Shareholder Meeting / Postal Ballot-Scrutinizers Report


Indian Overseas Bank - Statement Of Investor Complaints For The Quarter Ended June 2018


Indian Overseas Bank update on ratings action from CARE


Indian Overseas Bank appoints Chief Risk Officer


Indian Overseas Bank update on Hong Kong Branch


Indian Overseas Bank schedules AGM

Corporate Actions

Capital Structure
Book Closure
Board Meeting


Income Statement


Peers Comparsion

Select Company Name BSE Code NSE Symbol
Allahabad Bank 532480 ALBK
Andhra Bank 532418 ANDHRABANK
Bank of Baroda 532134 BANKBARODA
Bank of India 532149 BANKINDIA
Bank of Maharashtra 532525 MAHABANK
Canara Bank 532483 CANBK
Central Bank of India 532885 CENTRALBK
Corporation Bank 532179 CORPBANK
Dena Bank 532121 DENABANK
IDBI Bank Ltd 500116 IDBI
Indian Bank 532814 INDIANB
Jammu and Kashmir Bank Ltd 532209 J&KBANK
Oriental Bank of Commerce 500315 ORIENTBANK
Punjab & Sind Bank 533295 PSB
Punjab National Bank 532461 PNB
State Bank of Bikaner and Jaipur(Merged) 501061 SBBJ
State Bank of India 500112 SBIN
State Bank of Mysore(Merged) 532200 MYSOREBANK
State Bank of Travancore(Merged) 532191 SBT
Syndicate Bank 532276 SYNDIBANK
UCO Bank 532505 UCOBANK
Union Bank of India 532477 UNIONBANK
United Bank of India 533171 UNITEDBNK
Vijaya Bank 532401 VIJAYABANK

Share Holding

Category No. of shares Percentage
Total Foreign 32342917 0.66
Total Institutions 289288784 5.92
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 25243864 0.52
Total Promoters 4389084289 89.74
Total Public & others 154810121 3.17
Total 4890769975 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Indian Overseas Bank

Indian Overseas Bank (IOB) was founded in February 10th of the year 1937 by Shri.M.Ct.M.Chidambaram Chettyar, a pioneer in many fields Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking. IOB had the unique distinction of commencing business in 10th February 1937 (on the inaugural day itself) in three branches simultaneously - at Karaikudi and Chennai in India and Rangoon in Burma (presently Myanmar) followed by a branch in Penang. Indian Overseas Bank has an ISO certified in-house Information Technology department, which has developed the software that 3405 branches use to provide online banking to customers. At the dawn of Independence IOB had 38 branches in India and 7 branches abroad. At Present the bank has 3405 branches. The Products & Services of the bank includes NRI Services, Personal Banking, Forex Services, Agri Business Consultancy, Credit Cards, Any Branch Banking and ATM Banking. Saga of the IOB is covered into four categories, such as Pre-nationalisation era (1947- 69), at the time of Nationalisation (1969), Post - nationalisation era (1969-1992) and Post-Reform Period - Unprecedented developments (1992 & after). In Pre-nationalisation era (1947- 69), IOB expanded its domestic activities and enlarged its international banking operations. As early as in 1957, the Bank established a training centre, which has now grown into a Staff College at Chennai with 9 training centres all over the country.IOB was the first Bank to venture into consumer credit. It introduced the popular Personal Loan scheme during this period. In 1964, the Bank made a beginning in computerisation in the areas of inter-branch reconciliation and provident fund accounts. In 1968, IOB established a full-fledged department to cater exclusively to the needs of the Agriculture sector. At the time of Nationalisation (1969), IOB was one of the 14 major banks that was nationalised in 1969. On the eve of Nationalisation in 1969, IOB had 195 branches in India with aggregate deposits of Rs. 67.70 Crs. and Advances of Rs. 44.90 Crs. In Post - nationalisation era (1969-1992), during the year 1973, IOB had to wind up its five Malaysian branches as the Banking law in Malaysia prohibited operation of foreign Government owned banks. This led to creation of United Asian Bank Berhad in which IOB had 16.67% of the paid up capital. In the same year Bharat Overseas Bank Ltd was created in India with 30% equity participation from IOB to take over IOB's branch at Bangkok in Thailand. In 1977, IOB opened its branch in Seoul and the Bank opened a Foreign Currency Banking Unit in the free trade zone in Colombo in 1979. The Bank sponsored 3 Regional Rural Banks viz. Puri Gramya Bank, Pandyan Grama Bank and Dhenkanal Gramya Bank. The Bank had setup a separate Computer Policy and Planning Department (CPPD) to implement the programme of computerisation, to develop software packages on its own and to impart training to staff members in this field. In the year 1988, IOB acquired Bank of Tamil Nadu in a rescue. In Post-Reform Period - Unprecedented developments (1992 & after), IOB formulated its Web site during the month of February in 1997. The Bank got autonomous status during the year 1997-98. IOB had the distinction of being the first Bank in Banking Industry to obtain ISO 9001 Certification for its Computer Policy and Planning Department from Det Norske Veritas (DNV), Netherlands in September 1999. IOB started its STAR services in December of the year 1999 for speedy realisation of outstation cheques. Now the Banks has 14 STARS centres and one Controlling Centre for providing this service and in the same year started tapping the potential of Internet by enabling ABB cardholders in Delhi to pay their telephone bills by just logging on to MTNL web site and by authorising the Bank to debit towards the telephone bills. The Bank made a successful debut in raising capital from the public during the financial year 2000-01, despite a subdued capital market. IOB bagged the NABARD's award for credit linking the highest number of Self Help Groups for 2000-2001 among the Banks in Tamil Nadu. Mobile banking under SMS technology was implemented in Ahmedabad and Baroda. Pilot run of Phase I of the Internet Banking commenced covering 34 branches in 5 Metropolitan centres. IOB was one among the first to join Reserve Bank of India's negotiated dealing system for security dialing online. The Bank has finalised an e-commerce strategy and has developed the necessary Internet banking modules in-house. For the first time a Total Branch Automation package developed in-house has been customised in one of the Overseas Branches of the Bank. Most software developed in-house. During the year 2002-03, a new credit scheme Shubh Yatra' was introduced to provide loans to those who undertake foreign travel for tourism, employment and medical treatment. During the year 2004, the Government OF India selected IOB for channelising government credit to other countries, which runs into billions of dollars. And also in the same year the bank made tie up with Times Online Money to launch an Internet-based remittance product, e-Cash Home, targeted at NRIs in the US wishing to transfer money to India. IOB made pact with Chola for MF products. During the year 2005, the bank joined hands with Visa to offer debit cards to its esteemed customers. In the year 2006, IOB inked MoU with CRI Pumps. In September 2006, Indian Overseas Bank (IOB) has finally taken control of Bharat Overseas Bank (BhOB), an unlisted private bank. This is the first instance of a public sector bank taking over a strong private sector bank without resorting to the moratorium route. During May of the year 2007, Indian rating agency ICRA assigned an 'A1+' rating to the proposed 20 bln rupee certificates of deposit programme of Indian Overseas Bank, citing the bank's consistent and measured growth, the improvement in its asset quality through effective monitoring and collection systems, and improving core profitability. During June of the year 2008, IOB launched two new products namely IOB Gold' and IOB Silver' in savings account and IOB Classic' and IOB Super' under current account. In the year 2010-11, The bank has signed a joint venture agreement with Bank of Baroda and Andhra Bank to open a Banking subsidiary in Malaysia. The Joint Venture has been duly incorporated at Malaysia on 13.08.2010 by name 'India International Bank (Malaysia) Ltd.' BHD and the banking joint venture has started functioning from July 2012. During the year 2012-13, IOB has received National Award For Excellence in MSME Lending and for outstanding performance for implementing PMEGP programme in South Zone. It has also received BANKERS' EXCELLENCE AWARD from ROTARY INTERNATIONAL, USA. In order to decentralize the decision making process, reduce the turnaround time for credit delivery and increase efficiency in transaction handling, the Bank opened 19 Rapid Retail Centres, 9 MSME Processing Centres and 8 City Back Offices during the year 2013-14.

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