Indian Overseas Bank (IOB) is a prominent public sector bank headquartered in Chennai, India, offering personal, corporate, and agricultural banking solutions with international operations in Singapore, Hong Kong, Thailand, and Sri Lanka.

IOB has achieved substantial growth with a net profit increase of 57.79% year-on-year, supported by a considerable rise in advances and deposits, reflecting strong operational and financial performance.

The bank's aggressive expansion strategy is illustrated by the opening of more than 100 new branches and several loan processing centers in the recent financial year, enhancing its domestic reach.

IOB's focus on digital innovation is evident from the introduction of revamped mobile banking, WhatsApp Banking, and CRM 360, boosting customer satisfaction and operational efficiency.

Through strategic initiatives like prioritizing non-performing asset (NPA) reduction and focusing on small and medium enterprises (SME) and retail credit, IOB improved its asset quality significantly, bringing down the gross NPA to 1.83%.