LATEST NEWS PERTAINING TO INDIAN OVERSEAS BANK ( IOB )

FINANCIAL RESULTS OF IOB  FOR THE QUARTER  ENDED 30TH  JUNE   2025 : 

IMPRESSIVE PERFORMANCE 

Dated  18.07.2025 :  Public sector lender Indian Overseas Bank has  today  come out  with financial results for the quarter ending  30th, June 2025   and the results indicate an impressive performance .  

The highlights of the performance as per Press release issued by the bank today are  : 

1. IOB’s Net Profit jumps to historic high of ₹ 1,111 Cr  registering Y-o-Y growth of 75.57 %
2. Net Profit up by 75.57 % to ₹ 1,111 crore
3. Operating profit increased by 40.70 % to ₹ 2,358 crore
4. Net Interest Income increased by 12.50 % to ₹ 2,746 crore
5. Net Interest Margin (NIM) stood at 3.04 % as on 30.06.2025
6. Cost to Income Ratio improved by 754 bps to 44.22 %
7. Return on Assets (ROA) improved by 44 bps to 1.14 %
8. Return on Equity (RoE) improved by 490 bps to 19.00 %
9. Total Business grew by 12.19 % to ₹ 5,93,213 crore
10. Total Deposits up by 10.75 % to ₹ 3,30,792 crore
11. CASA deposits increased by 15 % to ₹ 1,44, 837 crore
12. CASA Ratio improved by 161 bps to 43.78 % as on 30.06.2025
13. Gross Advances increased by 14.05 % to ₹ 2,62,421 crore
14. CD Ratio increased to 79.33% as on 30.06.2025
15. Gross NPA improved by 92 bps to 1.97 % as on 30.06.2025
16. Net NPA improved by 19 bps to 0.32 % as on 30.06.2025
17. Slippage ratio improved by 3 bps to 0.10 % as on 30.06.2025
18. Credit Cost stood at 0.29 % as on 30.06.2025
19. Total Recovery increased by 46.13 % to ₹ 851 crore
20. Provision Coverage Ratio improved by 51 bps to 97.47 %
21. CRAR improved by 46 bps to 18.28 % as on 30.06.2025

To read complete press release , CLICK HERE 

FIXED DEPOSIT INTEREST RATES REVISED AGAIN  :

Dated 15.07.2025 : The public sector bank , Indian Overseas Bank , has   reduced  the  interest rates on fixed deposits  of various maturities effective today  with effect from 15th, JuLY 2025 .  

The new rates  for domestic and NROs are  : 

7-14 Days –  3.50   ( Earlier   4.00   )
15-29 Days -3.50  ( Earlier   4.00   )

30-45 Days-3.50  ( Earlier   4.00   )
46-60 Days- 4.00 ( Earlier  4.00    )
61-90 Days -3.50  ( Earlier    3.50 )

91-120 Days -4.00   ( Earlier  4.00   )
121-179 Days- 4.00 ( Earlier  4.00    )
180-269 Days -5.00  ( Earlier   5.00   )

270 Days to < 1 Year -5.50 ( Earlier 5.50    )

1 Year to < 2 Years(Except 444 Days) – 6.60 %  ( Earlier 6.70      )

444 Days – 6.75  %    ( Earlier  6.95   )
2 Years to < 3 Years -6.60( Earlier   6.60   )

3 Years and Above -6.30 ( Earlier  6.30   )
​* Minimum Amount Rs. 1.00 Lakh

*Interest Rate of 7.10% for 444 days bucket is valid till 30.06.2025.

• Interest Rate for IOB Tax Saver Deposit will remain unchanged at 6.30%.

• For Senior Citizens (aged 60 Years and above), Additional interest rate of 0.50% and for Super Senior Citizens (aged 80 years and above), Additional interest rate of 0.75% continues.

• For Retired Staff, the Applicable interest rate will continue to be governed by the decision taken by ALCO in its meeting No-04/2019-20 held on 08.07.2019.

The revised Interest rates on NRE Term Deposits w.e.f. 15.07.2025 are as follows:

 NRE  DEPOSIT INTERESTS  :  

1 Year to < 2 Years (Except 444 Days) -6.60 %        

444 Days 6.75 %

2 Years to < 3 Years  =6.60 %

3 Years and Above 6.30 %

IOB RATE CARD

FINANCIAL RESULTS OF IOB  FOR THE QUARTER AND  YEAR ENDED 31ST MARCH  2025

Dated  02.05.2025 :  Public sector lender Indian Overseas Bank has  today  come out  with financial results for the quarter ending  31st, March 2025 as well as  Financial year FY 2024-25   and the results indicate an impressive performance . 

The highlights of the performance as per Press release issued by the bank today are

(QUARTER ENDED 31.03.2025 OVER 31.03.2024 & 31.12.2024)

1. IOB hits historic high: Quarterly profit Crosses Rs 1000 Cr mark registering Y-o-Y growth of 30.07 %

                  2.Net Profit increased to ₹1,051 Crore for the Q4FY25 from ₹808 Crore for the  Q4FY24, registering a growth of ₹243 Crore at 30.07% Y-o-Y basis. The same is increased by 20.25 % on a Q-o-Q sequential basis.

3. Operating Profit increased to ₹2,618 Crore for Q4FY25 from ₹1,961 Crore for Q4FY24, registering a growth of ₹657 Crore at 33.50% Y-o-Y basis. The same is  increased by 15.53 % on a Q-o-Q sequential basis.
4. Net Interest Income (NII) increased by 13.03% to ₹3,123 Crore for Q4FY25 from ₹2,763 Crore for Q4FY24. The same is increased by 11.98 % on a Q-o-Q sequential basis.
5. Cost to Income Ratio improved to 44.35% for Q4FY25 as against 62.58% for Q4FY24. The same was 44.55 % for the quarter ended 31.12.2024.
6. Return on Assets (ROA) improved to 1.12 % for Q4FY25 as against 0.94% for  4FY24.
7. Return on Equity (ROE) improved to19.53% for Q4FY25 as against 18.50% for Q4FY24.
8. Net interest Margin (NIM)- Domestic improved to 3.77 % for Q4FY25 as against 3.73 % for Q4FY24. The same was 3.47 % as on 31.12.2024
9. Net interest Margin (NIM)- Global improved to 3.58 % for Q4FY25 as against 3.53 % for Q4FY24. The same was 3.33 % as on 31.12.2024 
10. Net Profit increased by 25.56 % to ₹3,335 Crore for the year ended 31.03.2025 as  against ₹2,656 crore for the year ended 31.03.2024.
11. Operating Profit has shown a growth of 28.44 % to ₹8,688 crore for the year ended 31.03.2025 as against ₹ 6,764 crore for the year ended 31.03.2024.
12. Net Interest Income (NII) increased by 10.79 % on Y-o-Y basis to ₹ 10,890 crore for the year ended 31.03.2025 as against ₹ 9,829 crore for the year ended 31.03.2024
13. Cost to Income Ratio improved at 47.14 % for the year ended 31.03.2025 as  against 56.32 % for the year ended 31.03.2024.
14. Return on Assets (ROA) improved to 0.92 % for the year ended 31.03.2025 against 0.81 % for the year ended 31.03.2024.
15. Return on Equity (ROE) stood at 16.28 % for the year ended 31.03.2025.

To read the Press release , CLICK HERE

Unaudited Financial Results Q3 – 2024-25 NET PROFIT GROWS BY 23.68 %
Dated 20.01.2025: Indian Overseas Bank has announced its Unaudited Financial Results for the Third quarter of the Financial year 2024-25 .
Some of the key performance results for the quarter October 2024 to December 2024 are : ( Figures in Rs crores )​
1. Net Interest Income : 2,7892. Operating Profit : 2,266
3. Net Profit : 8744. Net NPA : 1,059

The Net profit increased from Rs 774 crores in September 2024 to Rs 874 crores as of 31.12.2024, growing by 23.68 % from December 2023 to December 2024 .

For the total picture of the announcement , CLICK HERE

IOB RECEIVES ORDER OF REFUND AGAIN FROM THE INCOME TAX DEPARTMENT

Dated 12.12.2024 : The public sector lender Indian Overseas Bank has informed the BSE and NSE that they have received an order of Tax refund . As per the order dated 17.08.2024, the amount refundable to the Bank for the AY 2015-16 including interest u/s 244A of the Income-tax Act is ₹1359,29,17,840/- (Rupees One Thousand Three Hundred and Fifty-Nine Crores Twenty-Nine Lakhs Seventeen Thousand Eight Hundred and Forty Only).

Further it’s reported in the media that the bank has informed that it is entitled to an income tax refund of Rs 808.30 crores for the Assessment year 2013-14 .

The Bank earlier on 25.11.2024 had received an order for a refundable amount of 1238,31,09,327/- for the AY 2019-20 including interest u/s 244A of the Income-tax Act . The bank had also had a refund of Rs 549.80 for the AY 2020-21 on 28.10.2024

To read the IOB’S LETTER TO BSE / NSE , CLICK HERE

IOB RECEIVES INCOME TAX REFUND OF RS 1238 CRORES

Dated 26.11.2024 : The public sector lender Indian Overseas Bank has informed the BSE and NSE that they have received an order by the income tax department for an income tax refund of Rs 1238.31 crores for the Financial year 2018-19 through income tax portal on 25.11.2024 .

The Bank has received the order under Section 250 of the Income Tax Act, 1961 . As per the order dated 19.08.2024, the amount refundable to the Bank for the AY 2019-20 including interest u/s 244A of the Income-tax Act is RS 1238,31,09,327/-

LIFE CERTIFICATE FOR IOB STAFF PENSIONER THROUGH MOBILE APP mCHRIS

Dated 02.11.2024 : Indian Overseas Bank has introduced the facility of submitting Life Certificates for its staff pensioners through the mobile App IOBians mCHRIS . The app can be downloaded from Google Playstore .

After downloading , one has to login to the app exemployee by feeding Roll number , date of birth and the OTP received on the linked mobile . Go to Life certificate section , allow the photo to be taken and the life certificate will be generated .

With the help of this, 10B Staff Pensioners will have the option to submit their life certificate digitally within few minutes , sitting at home without visiting the branches.

The pensioners complying with the following prerequisites can only utilize mCHRIS opp for submission of life certificate.

To utilize the facility , pensioners have to comply with the following conditions.

1. The mobile number of the pensioner must be linked with the pensioner’s savings account for accessing the mCHRIS opp.

2. The pensioner should be physically present in India during the submission

3. The Aadhar number and PAN of the pensioner must be linked with the pensioner’s savings account.

4. Once the Life certificate is submitted digitally, there is no need for pensioner’s to submit it in any physical form.

Unaudited Financial Results Q2 – 2024-25
NET PROFIT ZOOMS BY 24.32 %
Dated 24.10.2024 : Indian Overseas Bank has announced its Unaudited Financial Results for the Second quarter of the Financial year 2024-25 .
Some of the key performance results are : ( Figures in Rs crores )​
1. Net Interest Income : 2,5382. Operating Profit : 2, 128
3. Net Profit : 777 4. Net NPA : 1,059

For the complete report published by the bank , CLICK HERE

Unaudited Financial Results Q1 – 2024-25 NET PROFIT ZOOMS BY 26.5 %
Dated 22.07.2024 : Indian Overseas Bank today announced its Unaudited Financial results for the First quarter of the Financial year 2024-25 .
Some of the key performance results are
Figures in Rs Lakhs
​1. Interest Income : 24,04,973
2. Operating Profit : 676,3763. Net Profit : 265,561
4. Net NPA : 121,6865. Net worth : 18,06,918

FIXED DEPOSIT INTEREST RATES REVISED :
Dated 16.07.2024 : The public sector bank , Indian Overseas Bank , has announced the new interest rates on fixed deposits with effect from 15th, July 2024 . Now the deposits in the maturity bracket of 1 year to 2 years ( except 444 days ) carry an interest rate of 7.10 % pa , enhanced from the existing 6.90 % pa . Interest rates for all other periods kept unchanged .
The new rates effective from 15th , July 2024 for domestic and NROs are
7-14 Days* 4.00
15-29 Days 4.5030-45 Days 4.50
46-60 Days 4.50
61-90 Days 4.2591-120 Days 4.75
121-179 Days 4.25
180-269 Days 5.75270 Days to < 1 Year 5.75
1 Year to < 2 Years
(Except 444 Days) 7.10444 Days 7.30
2 Years to < 3 Years 6.803 Years and Above 6.50
​* Minimum Amount Rs. 1.00 Lakh

• Interest Rate for IOB Tax Saver Deposit will remain unchanged at 6.50%.

• For Senior Citizens (aged 60 Years and above), Additional interest rate of 0.50% and for Super Senior Citizens (aged 80 years and above), Additional interest rate of 0.75% continues.

• For Retired Staff, Applicable interest rate will continue to be governed by the decision taken by ALCO in its meeting No-04/2019-20 held on 08.07.2019.

The Revised Interest Rates on NRE Term Deposits w.e.f 15.07.2024 are as Follows
1 Year to < 2 Years (Except 444 Days) 7.10 %444 Days 7.30 %
2 Years to < 3 Years 6.80 %3 Years and Above 6.50 %
IOB RATE CARD

Financial Results FY 2023-24 NET PROFIT ZOOMS BY 26.5 %
Dated 09.05.2024 : Indian Overseas Bank today announced its Financial results for the Financial year 2023-24 . The operating profit and Net profits for FY 2023-24 of Public sector lender raised by 13.8 % and 26.5 % respectively compared with results of FY 2022-23 .
Some of the key performance results for FY 2023-24 are
( In brackets figures for FY 2022-23 ) Figures in Rs Lakhs
​1. Interest Income : 24,04,973 ( 19,40,033 )
2. Operating Profit : 676,376 ( 594,218 ) 3. Net Profit : 265,561 ( 209,879 )
4. Net NPA : 121,686 ( 326,601 )5. Net worth : 18,06,918 ( 14,64, 349 )
To read press release of IOB , CLICK HERE

NOW IOB CUSTOMERS CAN TRANSFER THEIR SB ACCOUNTS ON-LINE :
Dated 02.01.2024 : The public sector bank , Indian Overseas Bank , has now provided on-line facility to its customers for transfer of their Savings Bank Accounts to any branch of their choice hassle-free .
Some customers need their account transfer from one branch to the another as they would have shifted their residence or business / working spot from one town to the another . Normally they have to give applications to either of the branches and wait for the transfer . ​Now customers can visit IOB on-line , fill their account number and captcha . An OTP will be sent to the registered mobile number of the customer . On entering the OTP , you can further furnish the branch where the account to be transferred

IOB LAUNCHES REVAMPED WEBSITE :
Dated 17.05.2023 : Public sector Lender Indian Overseas Bank has recently launched its new revamped website .
It has got new features like Internet banking log in option in the top of the home page, ready access to all customer care requirements, Apply for loans options, open SB account option , EMI calculator option, key words for instant search and many other important features in the home page itself.
It’s expected that the new website will be useful for easy navigation to both the existing customers and would be customers

INDIAN OVERSEAS BANK IS OUT OF PCA FRAMEWORK
Dated 30.09.2021 : Reserve Bank of India ( RBI ) yesterday announced through a press release , that it has been decided to take out Indian Overseas Bank from the PCA framework ( Prompt Corrective Action Framework ) , subject to certain conditions and continuous monitoring.
​ Matter was reviewed by the Board for Financial Supervision (BFS) in its meeting . It was noted that as per its published results for the year ended March 31, 2021, the bank is not in the breach of the PCA parameters. The bank has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments.
To read the press release of RBI , CLICK HERE