A Brief Details about Indian Overseas Bank

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.

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