Indian Overseas Bank was founded in 1937 by Chidambaram Chettyar. It was one of the 14 major banks that were nationalized in 1969.
Financial Results:
- Indian Overseas Bank reported Revenues for Q2FY24 of ₹5,821.00 Crores up from ₹4,718.00 Crore year on year, a rise of 23.38%.
- Total Expenses for Q2FY24 of ₹6,302.00 Crores up from ₹5,346.00 Crores year on year, a rise of 17.88%.
- Consolidated Net Profit of ₹625.00 Crores up 24.75% from ₹501.00 Crores in the same quarter of the previous year.
- The Earnings per Share is ₹0.33, up 22.22% from ₹0.27 in the same quarter of the previous year.
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