
Indian Overseas Bank (IOB), headquartered in Chennai, has achieved a significant milestone by surpassing the ₹5-lakh crore mark in total business for the first time. This achievement marks a new era of financial growth for IOB in its post-turnaround phase. The bank’s total business mix has crossed ₹5-lakh crore, as reported by a source familiar with the matter. Various segments, including retail, MSME, and priority sectors, have played a pivotal role in propelling the bank towards this remarkable achievement.
IOB’s total business had crossed the ₹2.5-lakh crore mark in 2010-11, and it continued to maintain growth momentum until FY15 when its total business stood at ₹4.25-lakh crore. However, in the following years, the bank experienced a decline in business due to a significant accumulation of bad loans, leading to a net loss of ₹454 crore in 2015-16. Consequently, the Reserve Bank of India (RBI) initiated the Prompt Corrective Action (PCA) program for IOB in September 2015.
Starting in 2017, the bank implemented a comprehensive strategy that resulted in consistent improvements each quarter. During the financial years 2018 to 2022, the government injected ₹24,074 crore in equity capital into the bank through recapitalisation bonds, which included ₹4,100 crore in zero coupon bonds issued in March 2021.
This infusion enabled the bank to bolster its provision coverage for stressed assets from previous periods, elevate its capital ratios to levels exceeding regulatory requirements, and facilitated its exit from the Reserve Bank of India’s prompt corrective action (PCA) framework in September 2021, as highlighted in a recent report by rating agency Icra.
In FY21, the bank marked a significant turnaround by reporting a robust annual net profit of ₹831 crore, a stark contrast to the ₹8,527 crore loss recorded in FY20, following six consecutive years of losses. For the quarter ending December 31, 2023, the bank disclosed a net profit of Rs.723 crore. During this period, the gross non-performing asset (NPA) ratio stood at 3.90 per cent, and the net NPA ratio was 0.62 per cent.
Indian Overseas Bank MCap
As of April 2024 Indian Overseas Bank has a market cap of $15.09 Billion. This makes Indian Overseas Bank the world’s 1188th most valuable company by market cap according to our data. The market capitalization, commonly called market cap, is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure how much a company is worth.

Indian Overseas Bank Last 5 years MCap
Year | Market cap |
---|---|
2024 | $15.09 B |
2023 | $9.84 B |
2022 | $7.33 B |
2021 | $5.18 B |
2020 | $2.40 B |
Indian Overseas Bank Share Price Today
