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Chennai: Indian Overseas Bank’s annual net profit crossed Rs 5,000 crore for the first time, with the public sector lender reporting FY26 profits at Rs 5,209 crore, up 56% from Rs 3,335 crore in FY25, driven by higher income and lower provisions and tax expenses. The bank’s operating profit also crossed Rs 10,000 crore for…
IOB set to raise 4,000 crore; Centre’s stake to fall CHENNAI: Close on the heels of the Centre divesting 2.2% of its shares in Indian Overseas Bank (IOB), the public sector bank will raise Rs 4,000 crore through a qualified institutional placement (QIP) in Q4 FY26. The move will further bring down the Union government’s…
Government holding in Indian Overseas Bank (IOB) has declined to 92.44 per cent following the completion of the offer-for-sale (OFS), with the Centre diluting a 2.17 per cent stake in the state-owned lender, the bank said in a regulatory filing on Saturday, PTI reported.Prior to the stake sale, the government held 94.61 per cent equity…
