Indian Overseas Bank (IOB), established in 1937, is a prominent Indian bank specializing in foreign exchange and overseas banking. Initially launching with branches in India and Burma (now Myanmar), IOB expanded its international presence over the decades. As of March 2023, the bank operates 3,220 domestic branches and maintains a presence in four countries—Singapore, Hong Kong, Thailand, and Sri Lanka—through four overseas branches and one joint venture subsidiary.
IOB offers a diverse range of services, including NRI services, personal banking, forex services, credit cards, and agricultural business consultancy. The bank has been a pioneer in consumer credit and was the first Indian bank to achieve ISO 9001 certification for its Computer Policy and Planning Department. IOB has consistently expanded its capital base through equity issues and has been recognized for its vigilance and innovation. Despite challenges, including branch closures and capital restructuring, IOB continues to strengthen its domestic and international operations.
