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Indian Overseas Bank plans to expand its footprint globally

23 Jan 2013 Evaluate

Indian Overseas Bank (IOB) is planning to expand its footprint globally. In this regard, the bank has deputed their officials to Doha, Oman, Kuwait and Saudi Arabia. The bank is also planning to depute officials to Bahrain and Kenya very soon. The bank is waiting for Reserve Bank of India’s (RBI) nod to upgrade its office in Dubai to a branch.

Indian Overseas Bank (IOB) was established in 1937 in Chennai and is one of the larger public sector banks with a sizeable footprint in South India. As on March 31, 2012, the bank had a network of 2,629 domestic branches with 6 overseas branches and 4 representative offices.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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