Indian Overseas Bank (IOB) Tamil (இந்தியன் ஓவர்ஸிஸ் வங்கி) is a major public sector bank based in Chennai (Madras), with about 3700 domestic branches, including 1150 branches in Tamil Nadu, 3 extension counters, and eight branches and offices overseas as of 30 September 2014. Indian Overseas Bank has an ISO certified in-house Information Technology department, which has developed the software that its branches use to provide online banking to customers; the bank has achieved 100% networking status as well as 100% CBS status for its branches. IOB also has a network of about 3300 ATMs all over India.
IOB has branches in Singapore, Hong Kong, Colombo, Seoul, and Bangkok. It has representative offices in Guangzhou, Vietnam, and Dubai. IOB also is part-owner of a joint-venture bank in Malaysia.
The net profit for the quarter ended 30 June 2014 stood at INR 272 Crores. The Business touched INR 4,20,739 Crores(YoY Growth 8.16%) for the quarter ended 30 September 2014. Deposits stood at INR 2,39,223 Crores(YoY Growth 12.47%), CASA stood at 23.76%, Advances stood at INR 1,81,515 Crores(YoY Growth 2.96%) Operating Profit for Q2 14-15 is INR 729 Crores.
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