Company Profile For Indian Overseas Bank

Indian Overseas Bank (IOBK.BO) (Bombay Stock Exchange)

sector: Financials · industry: Banks ·

As of 10:28am IST

120.90INR

Price Change

+3.15

Percent Change

+2.68%

Analyst Recommendations

Overview

Indian Overseas Bank (IOB or the Bank) provides various banking services, including saving bank, current accounts, credit facilities and other services. The Bank’s services include personal banking services, non-residential Indian (NRI) accounts, corporate banking services, foreign exchange reserves (FOREX) collections services, agri business consultancy and e-banking services. During the fiscal year ended March 31, 2009 (fiscal 2009), IOB had 12 establishments abroad, consisting of six branches, three representative offices, two remittance centers and one extension counter. There are two branches in Hong Kong and one each in Singapore, South Korea, Sri Lanka and Bangkok. During fiscal 2009, the Bank opened 35 branches. During fiscal 2009, IOB had 576 automated teller machines (ATM).

Quick Financial Synopsis

BRIEF: For the three months ended 30 June 2009, Indian Overseas Bank's total interest income rose 19% to RS25.78B. Net interest income after loan loss provision rose 8% to RS7.85B. Net income rose 18% to RS3.02B. Net interest income reflects higher interest income from interest on advances & bills, partially offset by an increase in loan loss provision. Net income was partially offset by an increase in employees cost.