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Indian Overseas Bank Branches in Mumbai

Indian Overseas Bank is a public sector bank established in 1937 in Chennai, Tamil Nadu in India with 3003 branches all across India. Net revenue of Indian Overseas Bank stood at Rs.34550 billion in 2012. The Indian Overseas Bank was established prior to 2nd World War to promote foreign exchange and overseas banking facilities.

Its six overseas branches are located in Sri Lanka, Myanmar, Malaya, Singapore, Java, Sumatra and Saigon. Indian Overseas Bank offers a wide array of products like loans, Credit Cards, savings options for its valued customers. Recently, it has acquired Bharat Overseas Bank in 2007, which will be converted into International Bank with Kuala Lumpur as its headquarters.

Indian Overseas Bank in Mumbai

Milestones

  1. 1957 – Bank established its own training center
  2. 1964 – Inauguration of IOB's Head Office in Mount Road.
  3. 1974 – Official Language Department established in 1974
  4. 1984 – 1000th branch opened
  5. 1991 – Bank moved its Staff College premises to an own spacious learning zone at Koyambedu
  6. 1996 – Banks profit reached INR 100 cr. for the first time i.e. USD16.69Mn [1USD=Rs. 59.9150]
  7. 2000 – Initial Public Offer. Follow on Public Offer in 2003.
  8. 2005 – Launched Debit Card
  9. 2006 – Launched VISA Card, Retail Sale of Gold and Non-Life Joint Insurance Bank reached INR 1 lac crore mark in Total Business
  10. 2006 – 07 Net Profit reached INR 1000 Cr.(US$229.78 Mn) [1USD= Rs. 43.5200] Bharat Overseas Bank Ltd. Was merged with IOB and First Offsite ATM at Kamatchi Hospital, Chennai
  11. 2009 – 100% CBS
  12. 2010 – 2000th Branch -Yamuna Vihar, New Delhi-opened
  13. 2011-12 – No. of Branches in Tamil Nadu reached 1000, and IOB celebrated Platinum Jubilee 2012–13. As on 31.3.2013, total deposits reached INR 202,135 cr. (US$37,236Mn.) [1USD =Rs. 54.2850]As on 31.3.2013, Total Advances reached INR 164,366cr. (US$30,278 Mn.) As on 31.3.2013, Total Business Mix is at INR 366,501cr. (US$67,514Mn.), Total No. of Branches 2908
  14. 2014-15 Bank has surpassed the landmark of 3000 ATMs as on 31.07.2014 – Tirumalaipatti Branch
  15. 2015 – IOB launched new Mobile Banking, m Passbook applications.
  16. 2015-IOB started migration from its in-house CBS platform to Finacle.
  17. January 2016- All branches successfully migrated from in house CBS platform "CROWN" to FINACLE.

IOB official website 

https://www.iobnet.co.in/ibanking/html/index.html

Find out the nearby bank branches in Mumbai  here 
https://iob.in/Branch.aspx

Other Bank Branches in Mumbai: Andhra Banks in Mumbai | Oriental Bank of Commerce Mumbai | PNB Branches in Mumbai | SBI Branches in Mumbai | UCO Bank Branches Mumbai

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