'Indian Overseas Bank conducted a conference call on 20 January
2025 to discuss the financial results for the quarter ended December 2024. Ajay
Kumar Srivastava, MD & CEO of the company addressed the call:
Highlights:
The bank has a strong distribution network of 3322 branches,
3503 ATMs and 9041 business correspondents. The bank also has international
operations in four countries - Singapore, Hong Kong, Thailand, and Sri Lanka.
The bank has a customer base of 41 million customers end
December 2024.
The business volumes of the bank have increased 9.8% to Rs
5.43 lakh crore.
Deposits moved up 9.74% yoy to Rs 3.05 lakh crore. CASA
deposits increased 9.45% to rupees 1.32 lakh crore. CASA deposit ratio was
stable at 43.37% end December 2024. The decline in the bulk deposits has led to
2% qoq decline in deposits for Q3FY2025.
Advances increased by 9.9% yoy and 3% qoq to Rs 2.38 lakh
crore end December 2024....
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