Indian Overseas Bank

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Indian Overseas Bank

Logo of the Bank
An Indian Overseas Bank branch in Lemalle, Andhra Pradesh
Company type	Public
Traded as	BSE: 532388 NSE: IOB
Industry	Banking, Financial services
Founded	10 February 1937; 87 years ago (1937-02-10)
Founder	M. Ct. M. Chidambaram Chettyar
Headquarters	Chennai, Tamil Nadu, India
Number of locations	3236 [1]
Key people	Ajay Kumar Srivastava (MD & CEO)
Products	Financial services Consumer Banking Retail banking Corporate Banking Commercial bank Housing Loan Vehicle Loan Investment banking Merchant bank Education Loan Private banking Savings wealth management Credit card
Revenue	₹29,705.99 crore (US$3.6 billion) (2024) [1]
Operating income	₹6,773.90 crore (US$810 million) (2024)[1]
Net income	₹2,655.62 crore (US$320 million) (2024) [1]
Total assets	₹352,033.61 crore (US$42 billion) (2024) [1]
Owner	Government of India
Number of employees	21,475 (2024)[1]
Capital ratio	17.28 (2024) [1]
Website	www.iob.in

Indian Overseas Bank (IOB) is an Indian public sector bank based in Chennai. During the nationalisation, IOB was one of the 14 major banks taken over by the government of India. On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry of Electronics and Information Technology for achieving second highest percentage of digital payment transaction among public sector banks.

As on 31 March 2022, IOB's total business stands at ₹417,960 crore (US$50 billion). It has about 3,220 domestic branches, 2 DBUs ( Digital Banking Unit) about 4 foreign branches and representative office. Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specializing in FOREX and overseas banking.