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IOB advances on the plan of opening 400 more branches this financial year

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

16 Dec 2013 Evaluate

Indian Overseas Bank (IOB) is currently trading at Rs. 49.10, up by 0.35 points or 0.72 % from its previous closing of Rs. 48.75 on the BSE.

The scrip opened at Rs. 48.50 and has touched a high and low of Rs. 49.25 and Rs. 48.50 respectively. So far 22135 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. 37.15 on 19-Aug-2013.

Last one week high and low of the scrip stood at Rs. 54.00 and Rs. 48.70 respectively. The current market cap of the company is Rs. 4528.07 crore.

The promoters holding in the company stood at 73.80% while Institutions and Non-Institutions held 13.75% and 12.45% respectively.

Indian Overseas Bank (IOB) is reportedly planning to open 400 more branches during the current financial year. Currently, the bank has 3,059 branches. The bank is also planning to open branches in Bangkok and Dubai. The bank has already received Reserve Bank of India’s (RBI) approval to open a second branch in Bangkok. The bank is focusing on opening more rural branches and taking banking to villages.

Recently, the bank had recruited 4,562 employees and 6,500 more would be recruited depending on the expansion plans. In Andhra Pradesh, the bank has 240 branches and 30 more would be open during the current fiscal.

The bank has reported a fall of 16.33% in its net profit at Rs 132.55 crore for the quarter ended September 30, 2013 as compared to Rs 158.43 crore for the same quarter in the previous year. Total income of the bank increased by 8.79% at Rs 5999.75 crore for quarter under review as compared to Rs 5515.02 crore for the quarter ended September 30, 2012.

Indian Overseas Bank Share Price

34.45 -0.25 (-0.72%)

13-Apr-2026 12:15 View Price Chart

Peers

Company Name	CMP
SBI	1049.05
PNB	110.05
Canara Bank	138.80
Bank Of Baroda	273.00
Union Bank Of India	183.50
View more..

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IOB advances on the plan of opening 400 more branches this financial year

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