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IOB gains on planning to recover Rs 2,500 crore of bad loans in FY2014

Indian Overseas Bank | Bank - Public | BFSI | BSE: 532388 | NSE: IOB

06 May 2013 Evaluate

IOB is currently trading at Rs. 62.50, up by 0.05 points or 0.08% from its previous closing of Rs. 62.45 on the BSE.

The scrip opened at Rs. 62.40 and has touched a high and low of Rs. 62.90 and Rs. 62.00 respectively. So far 70088 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.85 on 07-Jan-2013 and a 52 week low of Rs. 61.70 on 30-Apr-2013.

Last one week high and low of the scrip stood at Rs. 68.50 and Rs. 61.70 respectively. The current market cap of the company is Rs. 5789.46 crore.

The promoters holding in the company stood at 73.80% while Institutions and Non-Institutions held 14.46% and 11.75% respectively.

Indian Overseas Bank (IOB), the public sector bank, has set a target to recover Rs 2,500 crore from bad loans in FY2014, against Rs 1,700 crore recovered in FY2013. The bank has given its branch managers power to enter into one-time settlement with borrowers, whose loan outstanding is up to Rs 5 lakh. In order to make recoveries the bank is also organising camps (loan recovery) and resorting to Lok Adalats.

Besides, in case of bad loans with an outstanding of Rs 1 crore or more, each general manager at the head-office has been assigned the responsibility of recovery in three to four regions. The bank’s bad loans has increased from Rs 2,688 crore in FY2013 to Rs 6,608 crore as at March-end 2013.

The bank’s net profit has plunged by 88.87% at Rs 58.87 crore for the fourth quarter ended March 31, 2013 as compared to Rs 528.81 crore for the similar quarter ended March 31, 2012. Total Income has marginally increased by 8.92% to Rs 5898.15 crore for the quarter ended March 31, 2013 from Rs 5415.09 crore for the quarter ended March 31, 2012.

Indian Overseas Bank Share Price

34.97 0.03 (0.09%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	1080.35
PNB	114.50
Canara Bank	142.35
Bank Of Baroda	280.00
Union Bank Of India	188.90
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IOB gains on planning to recover Rs 2,500 crore of bad loans in FY2014

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