Indian Overseas Bank (IOB)

Indian Overseas Bank Reports Strong Q1 Earnings - 24 Jul, 2024

Indian Overseas Bank's Q1 2025 earnings show an increase in revenue and net income, resulting in a higher profit margin. However, shares are down 5.4% from a week ago.

PSB Equity Dilution and Banking Rule Announcement to Impact Indian Overseas Bank Stock - 23 Jul, 2024

Indian Overseas Bank stock is expected to trade volatile as financial market participants watch for announcements related to further equity dilution in PSBs to meet the 25% public shareholding norms prescribed by SEBI. Additionally, bankers have proposed tax relief on deposits and home loans.

IOB Reports Strong Q1 Results - 22 Jul, 2024

Indian Overseas Bank (IOB) reported a YoY rise of 26.5% in net profit to Rs 632.8 crore, driven by strong sequential business momentum. The bank's gross NPA reduced to 2.89% from 7.13%, while net NPA declined to 0.51% from 1.44%. Total deposits surged 13% YoY, and advances rose 24.7% YoY to Rs 2.24 lakh crore. Provision coverage ratio improved to 96.96% as of June quarter.

IOB Stock in Strong Uptrend, Consolidating Sideways - 20 Jul, 2024

Indian Overseas Bank (IOB) stock has been in a strong uptrend since April 2023 and is currently consolidating sideways. Support is at ₹59 with resistance at ₹75. A break above ₹91 could lead to a target of ₹110.

Indian Overseas Bank and UCO Bank to Raise Funds via QIP Route - 18 Jul, 2024

Indian Overseas Bank and UCO Bank are planning to raise funds through the qualified institutional placement (QIP) route next month, while Punjab & Sind Bank is likely to follow suit later in the current financial year. This move is aimed at meeting the public shareholding norm of 25%.

Indian Overseas Bank Hikes Marginal Cost of Funds Based Lending Rate - 11 Jul, 2024

The Indian Overseas Bank has increased its marginal cost of funds based lending rate (MCLR) by 5-10 basis points across all tenures, with revised rates to be effective from July 15. The bank's shares closed 1.55% lower at Rs 63.66 apiece on the BSE.

PSU Bank Stocks Rise, Indian Overseas Bank Up 6.29% - 09 Jul, 2024

Shares of PSU banks including Indian Overseas Bank rose today with the Nifty PSU Bank index adding 1.20% to 7,326. Indian Overseas Bank gained 6.29%, while other banks like Punjab & Sind Bank and UCO Bank also saw gains.

Indian Overseas Bank Upgrades Savings Scheme with Enhanced Features - 07 Jul, 2024

Indian Overseas Bank has introduced upgraded facilities on its savings scheme, including enhanced features and concessions for customers. The bank is leveraging digital technology to simplify banking processes and provide more value and flexibility solutions to customers. Additionally, the bank has launched a new service enabling customers to access their loan account statements directly through the Digilocker application or website.

Indian Overseas Bank Offers Upgraded Savings Accounts and Paperless Banking - 06 Jul, 2024

Indian Overseas Bank is now allowing customers to upgrade their savings accounts to higher variants with enhanced facilities and attractive features. The bank has also introduced a new service for paperless banking, enabling customers to access loan account statements through the Digilocker app or web portal.

IOB Offers Upgradation Facility on Savings Scheme Variants - 05 Jul, 2024

Indian Overseas Bank (IOB) is offering customers the facility to upgrade their savings account scheme to higher variants through its website. The SB Max and SB HNI accounts offer enhanced facilities, including concessions and waiver of various charges. IOB also introduced a new service that allows customers to access their loan account statements directly through Digilocker app or web portal.

NBW Issued Against Vijay Mallya in IOB Loan Default Case - 02 Jul, 2024

A non-bailable warrant has been issued against fugitive businessman Vijay Mallya in a ₹180-crore loan default case linked to Indian Overseas Bank. The CBI alleges that Mallya caused a wrongful loss of more than ₹180 crore to the government-run bank by wilfully defaulting in payments.

Indian Overseas Bank Stock Down; IOB Increases Interest Rate for EV Four-Wheelers - 27 Jun, 2024

The Indian Overseas Bank stock has lost around 9.72% in the last month and is down for a fifth straight session. Meanwhile, IOB has increased its interest rate for EV four-wheelers by 25 basis points but offers a 0.2% concession for e-four-wheelers.

Indian Overseas Bank Shares Top Performers on Nifty PSU Bank Index - 26 Jun, 2024

Shares of Indian Overseas Bank have risen nearly 50% so far in 2024, making them the top performers on the Nifty PSU Bank index. The government holds a 96.38% stake in the bank. Other banks such as Bank of Maharashtra, UCO Bank, and Punjab & Sind Bank have also seen significant gains.

Indian Overseas Bank to Reduce Government Stake - 25 Jun, 2024

Indian Overseas Bank is one of the five state-owned banks planning QIPs in H2 FY25 to reduce the government's stake to 75% as mandated by the market regulator.