Page 3 - Indian Overseas Bank
Indian Overseas Bank becomes the second most-valued public lender
On a closing basis, the bank's market cap was Rs 51,887 crore at the end of trading on Friday, surpassing its peers Punjab National Bank (PNB) and Bank of Baroda (BOB)
 "Indian Overseas Bank becomes the second most-valued public lender")
Privatisation buzz lifts Indian Overseas Bank, Central Bank stocks by 20%
The stock of the Mumbai-based Central Bank was locked in the upper circuit at Rs 24.30 on the back of an over 2x jump in trading volumes. A combined 88.5 million shares changed hands
 "Privatisation buzz lifts Indian Overseas Bank, Central Bank stocks by 20%")
Nifty PSU Bank index gains 4%; Central Bank of India, IOB surge 20%
Shares of Central Bank of India and Indian Overseas Bank locked in 20% upper circuit on reports that the two financial institutions might be privatised.
 "Nifty PSU Bank index gains 4%; Central Bank of India, IOB surge 20%")
Indian Overseas Bank fourth quarter profit rises over 2-folds to Rs 350 cr
The bank had posted a net profit of Rs 143.79 crore in the same period a year ago.
Good show by banks but can they sustain it?
Till March, banks could hold on but not all of them will be in a position to stomach the impact of the second wave of the pandemic
 "Good show by banks but can they sustain it?")
Shares of IOB, Central Bank of India surge on privatisation reports
The PSU Bank Index closed marginally higher (0.36 per cent) at 2,500.6 on the NSE, as compared to the last Friday
 "Shares of IOB, Central Bank of India surge on privatisation reports")
PSU Bank stocks rally on report govt may soon approve privatisation roadmap
At the bourses, shares of Bank of Maharashtra skyrocketed 15.3 per cent on the National Stock Exchange (NSE), Indian Overseas Bank surged 12 per cent, and Central Bank of India jumped 10 per cent.
 "PSU Bank stocks rally on report govt may soon approve privatisation roadmap")
Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds
Special securities shall be non-interest bearing and no interest shall be payable on issue of the securities
 "Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds")
Bank stocks rally post Supreme Court verdict in loan moratorium case
The SC said that no direction can be issued to the government or RBI to announce any particular financial packages or reliefs
 "Bank stocks rally post Supreme Court verdict in loan moratorium case")
Indian Overseas Bank Q3 profit at Rs 213 cr vs Rs 6,075 cr year-ago loss
Lender has said that it plans to come out of Prompt Corrective Action by focusing on recovery, low cost deposits and less capital consuming advances
CBI books six Indian Overseas Bank officials for misappropriating money
The CBI has booked six officials of the Indian Overseas Bank in Andhra Pradesh's Vijaywada and Guntur
IOB posts PBT of Rs 125 cr in Q1 against Rs 330 cr loss a year ago
Lender said it is in a position to come out of Prompt Corrective Action since NPAs have come down drastically and the bank has started reporting profit
Indian Overseas Bank Q1 profit at Rs 121 crore on fall in bad loans
Indian Overseas Bank on Thursday posted a net profit of Rs 121 crore for June quarter 2020 mainly due to fall in bad loans.
Efforts to cut bad loans to come out of PCA framework: Indian Overseas Bank
IOB, which is under the Reserve Bank of India's PCA framework, had last posted profit in June 2016
Partha Pratim Sengupta appointed new MD, CEO of Indian Overseas Bank
His appointment will be up to date of attaining the age of superannuation, December 31, 2022, or until further orders, whichever is earlier, it added
Indian Overaseas Bank back in black with pre-tax profit of Rs 83 crore
With this, the bank has met the final parameter to come out from the Reserve Bank of India's Prompt Corrective Action (PCA) framework, which was imposed in 2015.
Indian Overseas Bank cuts MCLR by 30 bps, to bring down interest on loans
IOB reduced its interest rate on loans linked to MCLR by 30 basis points in overnight tenor and by 20 bps in one month to one year tenors
All for liquidity: Watch every rupee, chase dues, and refinance debt
Refinancing high-cost debt into low-cost debt is possible, thanks to the RBI's TLTROs
 "All for liquidity: Watch every rupee, chase dues, and refinance debt")
IOB to collect donations for PM Cares Fund to combat coronavirus crisis
The contributions can be made by RTGS, NEFT, IMPS, cheques and demand drafts drawn in favour of PM-Cares Fund.
Indian Overseas Bank plans to raise funds through FPO in next fiscal
The banks NIM is currently at about 1.94 per cent and is expected to touch two per cent during the current quarter
