Indian Overseas Bank announced that the 24th Annual General Meeting (AGM) of the bank will be held on 2 July 2024.Powered by Capital Market - Live News

Net profit of Indian Overseas Bank rose 23.61% to Rs 810.42 crore in the quarter ended March 2024 as against Rs 655.63 crore during the previous quarter ended March 2023. Total Operating Income rose 27.70% to Rs 6633.50 crore in the quarter ended March 2024 as against Rs 5194.72 crore during the previous quarter ended March 2023.For the full year,net profit rose 26.70% to Rs 2665.66 crore in the year ended March 2024 as against Rs 2103.99 crore during the previous year ended March 2023. Total Operating Income rose 24.01% to Rs 24065.67 crore in the year ended March 2024 as against Rs 19406.97 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Total Operating Income6633.505194.72 28 24065.6719406.97 24 OPM %38.9645.67 -49.8048.35 - PBDT1195.96891.35 34 3422.742353.33 45 PBT1195.96891.35 34 3422.742353.33 45 NP810.42655.63 24 2665.662103.99 27 Powered by Capital Market - Live News

Indian Overseas Bank will hold a meeting of the Board of Directors of the Company on 9 May 2024.Powered by Capital Market - Live News

The Board of Indian Overseas Bank at its meeting held on 22 April 2024 has approved to raise paid up equity share capital to a maximum extent of Rs 5000 crore to the public, by way of Follow-on Public Offer / Rights Issue /Qualified Institutional Placement / ESPS/ Preferential Issue or any other mode or combination thereof,in one or more tranches within a period of 12 months from the date of approval, after obtaining the necessary approval of the Government of India and the approval of shareholders through Annual General Meeting (AGM)/Extraordinary General Meeting (EGM).The Board also approved to raise Tier II capital by issue of BASEL III Compliant Tier II Bonds up to a maximum extent of Rs.1000 crore depending upon the requirement, with or without green shoe option, in one or more tranches within a period of 12 months from the date of approval. Powered by Capital Market - Live News

Indian Overseas Bank will hold a meeting of the Board of Directors of the Company on 22 April 2024.Powered by Capital Market - Live News