Indian Overseas Bank Posts 24% Advance Growth, Tops CASA Among PSBs

Chennai, March 16, 2026 – Indian Overseas Bank (IOB), a leading public sector bank, has reported strong performance in the first nine months of FY26, underpinned by robust asset quality, digital initiatives, and sustainable growth strategies.

Key Financial Highlights (9M FY26)

Net Profit: ₹3,703 crore (up from ₹3,335 crore in 9M FY25)
Global Advances: ₹2,94,974 crore (up 24.13% YoY)
Global Deposits: ₹3,49,302 crore (up 14.48% YoY)
CASA Ratio: 40.85%, among the highest for PSU banks
Asset Quality: GNPA at 1.54%, NNPA at 0.24%, PCR at 97.49%

Digital and ESG Initiatives

IOB continues to enhance customer experience and operational efficiency through digital channels:

Online Re-KYC, Tab Banking, and Interoperable Cardless Cash Withdrawal (ICCW)
Digital platforms such as IOB Pay, BHIM IOB UPI, and “My Account – My Name”
ESG-focused programs including loans for E-bikes, renewable energy, green deposits, and women-centric credit schemes

Leadership and Governance

The bank’s leadership team, including Shri Ajay Kumar Srivastava (MD & CEO) and Shri Srinivasan Sridhar (Non-Executive Chairman), continues to strengthen strategic growth, risk management, and governance frameworks. The Board includes Government, RBI, and independent nominees.

Awards & Recognition

SKOCH Award 2025 for excellence
Ranked first among PSBs for grievance redressal under DFS assessment
National Award for outstanding SHG linkage 2024-25
ISO 31000:2018 certification for Enterprise Risk Management

Strategic Focus

IOB emphasizes expanding its retail, agriculture, and MSME lending, optimizing operational efficiency, and leveraging digital and technology-driven solutions to sustain growth and profitability.

About Indian Overseas Bank:
Founded in 1937 by Shri M.Ct. M. Chidambaram Chettyar, IOB has over 90 years of banking heritage, operating through 3,438 branches, 3,622 ATMs, and 11,959 business correspondents across India, with overseas presence in Singapore, Hong Kong, Thailand, and Sri Lanka. The Government of India holds 92.44% stake.