Indian Overseas Bank

Indian Overseas Bank (IOB) was founded on February 10, 1937, by Shri. M. Ct. M. Chidambaram Chettyar, a pioneer in banking, insurance, and industry. 

Its unique inception involved opening branches simultaneously in Karaikudi and Chennai, India, as well as Rangoon in Burma (now Myanmar) and later Penang in Malaysia. The bank is headquartered in Chennai, Tamil Nadu, India.

Business Segment

• Treasury Segment: oversees investment portfolios and engages in foreign exchange and derivative contract trading
• Corporate/Wholesale Banking Segment: offers lending activities for corporate accounts and the management of stressed assets, catering to corporate and institutional clients, and also overseeing non-treasury operations of foreign offices/entities
• Retail Banking Segment: focuses on personal banking activities, extending loans to corporate customers with established banking relationships through its branches
• Digital Banking Segment: The IOB Mobile platform offers a wide range of digital banking services, including online account opening, mobile banking, and internet banking
• Other Banking Businesses: include NRI banking services, self-service banking, and more

Geographical Presence

It operates in India. The bank has established a presence abroad with six establishments, comprising four Overseas Branches, one Remittance Center, and one Joint Venture Subsidiary. These international branches are located in Singapore, Hong Kong, Bangkok, and Colombo, with a Remittance Centre situated in Serangoon, Singapore.