Indian Overseas Bank share Price Today

Indian Overseas Bank is engaged in the banking sector, having its market capitalization worth INR 27,778.51 Cr. as of 16 April 2021. The bank was founded in 1937. The bank has reported its quarterly revenue of INR 4,243.72 Cr. at the end of December 2020. The company is a constituent of the Bombay Stock Exchange (BSE), having the code 532388 and on the National Stock Exchange (NSE) with the symbol IOB. The bank specializes in foreign exchange business and overseas banking. It's an Indian government-owned bank headquartered in Chennai. The bank was first to venture into consumer credit by introducing a personal loan scheme. Indian Overseas Bank (IOB) is a central Indian government-owned bank with about 3,400 domestic branches, six foreign branches and one representative office. It was the first bank that ventured into consumer credit and introduced a personal loan scheme. During nationalization, it was one of 14 big banks taken over by the Indian Government. The bank has a legacy of having an in-house IT department that develops its software needs. About 80 per cent of the software products used by the bank is built by its own dedicated IT development team, which coded one of the lightest, CLI based Core Banking Solutions. The bank's IT department comprises personnel with diversified work experience, having worked in field and administration levels. IOB set its foot into the Non-Life Insurance Business with Universal Sompo General Insurance (USGI) Company Limited with equity participation of 19% and Allahabad Bank, Dabur Investments and Karnataka Bank. The bank tied up with Apollo Munich Health Insurance to provide specialized health and personal accident products to its valued customers. The bank took over Bharat Overseas Bank in 2007. In 2009, IOB swooped Pune-based Shree Suvarna Sahakari Bank, which had one branch in Shripur, two in Mumbai, and nine in Pune. Malaysia accorded a commercial banking license to a local bank to be jointly owned by Andhra Bank, Bank of Baroda and Indian Overseas Bank. The thus formed bank, India International Bank (Malaysia), started its operations in 2012 in Kuala Lumpur, which consists of a significant number of Indians. Andhra Bank holds a 25% stake in the joint venture, Bank of Baroda owns 40%, and IOB has the remaining 35% stake.

Indian Overseas Bank share price as on 20 Apr 2024 is Rs. 61.25. Over the past 6 months, the Indian Overseas Bank share price has increased by 42.11% and in the last one year, it has increased by 153.1%. The 52-week low for Indian Overseas Bank share price was Rs. 23.15 and 52-week high was Rs. 83.75.