Indian Overseas Bank is one of
the most popular and leading public sector banks in India, This Bank has around 3400 Branches in all over the country
which also includes its 11500 branches in Tamil Nadu. If we look at the current
situation of this bank then we find out
that this bank is doing great business in all over the nation, if we check the
data for the revenue of this bank in the year 2016 then we get to know that
this bank has total revenue of around 235.172
billion Indian Rupees which is approx. 3.6 billion US dollar. If we go for the
total assets of this bank in the year 2016 then we find out that Indian
Overseas Bank has total assets of approx.
2744.36 billion Indian Rupees which equals
to 42 billion US Dollar. So this is the present position of this bank, if we
look at the Operating Income and Net Income of Indian Overseas Bank in the year
2016 then we get to know that this bank
has total Operating income of 28.85 billion INR and Net Income of 28.97 billion
INR in the year 2016. According to the current data
Indian Overseas Bank has also large number of products and services which can
be easily available in the market, some of the most popular products of this
bank are listed below in points.
- Credit Cards
- Saving Accounts
- Fixed Deposit
- Home Loans
- NRI Banking
- Internet Banking
So these are some of the products
and services of Indian Overseas Bank, Now, I am going to provides some details
regarding the history of this bank which is
given below in the next paragraph.
Indian Overseas Bank was
established in the year 1937, This bank was established by the M. Ct. M.
Chidambaram Chettyar. In its Starting period, Indian Overseas Bank
simultaneously started three branches in the three different places which are Karaikudi,
Madras, and Rangoon (Yangon). After these opening Indian Overseas Bank cover
huge success in the period of 1937 to 1941 by opening their branches in the place like Penang, Kuala Lumpur and Singapore.
Now, after the Second World War in
the year, 1945 and 1946 Indian Overseas
Bank opens its branches in Colombo Srilanka,
and just after a year it also managed to open its
branches in Bangkok. Later on in the year, 1955 Indian Overseas Bank opened its first branches in Hong Kong. In the year 1963,
the revolutionary government in Burma nationalized Indian Overseas Bank's
branches in Rangoon, Mandalay, and Moulmein and these branches converted in to
Peoples Bank No.4 of Burma. Later on in the year,
1969 IOB was nationalized by the government of India.
If we talk about the merger of Indian Overseas Bank then we find out this bank faces lots of merger till now, some
of the most important and popular banks which merges
with Indian Overseas Bank are listed below in points.
- Coimbatore Standard Bank, Merges year -> 1963
- Nanjinnad Bank or Nanjanad Bank, Merges year -> 1963
- Coimbatore Vasunthara Bank, Merges year -> 1964
- Kulitalai Bank Merges, year -> 1964
- Srinivasa Perumal Bank, Merges year -> 1966
- Venkateswara Bank, Merges year -> 1967
- Bank of Tamil Nadu, Merges year -> 1988–89
So these are the list of the banks
which merges with IOB, if you have any kind
of work to do in this bank and for that you are looking to find out the details
for the Indian Overseas Bank Branch Locator, IFSC Code, MICR Code, SWIFT Code, Bank Branches Timings etc. then you just
have to make a hit to our site where we provide you all the data for it in an well-mannered
way.
For More Details – Bank IFSC Code
