Shareholding for the Period Ended June 30, 2017
Indian Overseas Bank has submitted to BSE the Shareholding Pattern for the Period Ended June 30, 2017. For more details, kindly Click here04-07-2017
04-07-2017
Disclosure of Voting results of AGM (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
Indian Overseas Bank has informed BSE regarding the details of Voting results of AGM, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here30-06-2017
Efforts to revive bank yielding results: IOB chief
Indian Overseas Bank (IOB) has said that around 46 per cent reduction in the net loss during the second half of the current fiscal is an indication that the actions taken by the Bank is giving results.Net loss for the year ended March 31, 2017 is Rs 3,417 crore as against Rs 2897 crore for the year ended March 31, 2016 with net loss decreasing by 46 per cent in second half of Fiscal 17 over first half of fiscal 2017 is indicative of the significant actions being taken to transform the Bank, said R Subramaniakumar, MD & CEO, Indian Overseas Bank.IOB, which has been in the Regulator's radar for high NPA, said as at March 31, 2017 Gross NPA is at Rs 35,098 crore with ratio of 22.39 per cent as against Rs 30,049 crore as on March 31, 2016 with ratio of 17.40 per cent. One of the reasons for higher Gross NPA ratio is the contraction of credit by 9.23 per cent y-o-y.Recovery in NPA accounts for the year ended March 31, 2017 was higher at Rs 8,710 crore as against Rs 5,872 crore in ..30-06-2017
Intimation Under Regulation 30 And 44 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
Further to our letter No.IRC/78/2017-18 dated 29.06.2017, we enclose details regarding the voting results (revised duly including invalid votes) on the Agenda Items considered at the Annual General Meeting and Proceedings of the Annual General Meeting held on Wednesday, 28th June 2017 in Chennai. Please take the same on record29-06-2017
Scrutinizer's Report
Intimation under Regulation 30 and 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 With reference to the above, we enclose details regarding the voting results on the Agenda Items considered at the Annual General Meeting and Proceedings of the Annual General Meeting held on Wednesday, 28th June 2017 in Chennai. Please take the same on record.29-06-2017
Indian Overseas Bank's woes stay despite corrective action for 7 quarters
The Prompt Corrective Action (PCA) plan it was ordered to adopt hasn't yet enabled a turnaround at Chennai-based Indian Overseas Bank (IOB).It was put under the PCR by the Reserve Bank in October 2015 but the government-owned lender continues to report losses in each quarter since, due to the heavy burden of provisioning for loans gone bad. Beside an adverse business climate and the Asset Quality Review ordered by RBI in the second half of 2015-16, with its fallout, uncertainty over appointment of a fulltime chief executive by the government had also hit its performance. R Koteeswaran, full-time managing director and chief executive (MD & CEO), demitted office at end-June 2016. The government appointed R Subramaniakumar as full-time chief only in March 2017. He'd joined IOB as executive director at end-September 2016 on a lateral transfer from Indian Bank. And, was assigned additional responsibility as MD & CEO from November 11, 2016. The higher provision in 2016-17 for...24-06-2017
IOB rolls out retail mart branches
IIndian Overseas Bank has come up with the concept of Retail Mart Branches' as part of efforts to further strengthen its retail portfolio, R Subramania Kumar, Managing Director & Chief...23-06-2017
Fixes Book Closure for AGM
Indian Overseas Bank has informed BSE that the Register of Members & Share Transfer Books of the Bank will remain closed from June 21, 2017 to June 28, 2017 (both days inclusive) for the purpose of Annual General Meeting (AGM) of the Bank to be held on June 28, 2017.17-06-2017
IOB launches retail mart in Thiruvananthapuram
Indian Overseas Bank (IOB), the Lead Bank for Thiruvananthapuram district, has launched the Retail Mart, a retail lending concept, in Kerala's capital city. The exclusive facility that handles...10-06-2017
Updates
Sub: Reduction in Base Rate We refer to the subject mentioned above and inform that Asset Liability Management Committee of our Bank decided to reduce the Base Rate to 9.45% from the existing of 9.50% effective from July 01, 2017. Please take note of the same on record.09-06-2017