What Indian Overseas Bank Annual Report Says?

Annual reports are the report card that we used to receive at the end of the class section that decides whether we are promoted to the next class or not. Similarly, bank has also the annual report card that determined how a bank has performed in the financial year which is deciding factor of the economic condition of the banking firm. Questions like is the bank making profit or is in the loss is determined by analyzing the annual report of the bank. In this article, we will discuss various aspect and facts that can be observed after reviewing the Annual Report of the Indian Overseas Bank.

Profit or Loss

The profit or loss can be determined by observing the following facts-

Factors	March 2018
Total Business	3,67,831
Global Deposits	2,16,832
Domestic Deposits	2,10,388
Domestic Gross Advances	1,38,516
Global Net Advances	1,32,489
Priority Sector Advances	70,040**
Agricultural Credit	29,851**
Net Investments	68,646
Interest Income	17,915
Non Interest Income	3,746
Operating Expenses	5,585
Gross Profit	3,629
Net Profit/Net Loss	-6,299
Equity Share Capital	4,890.77
Gross NPA (%)	25.28
Net NPA (%)	15.33
Capital Adequacy Ratio (%)	9.25

Awards and Accolades won by IOB

•        Runner Up Award for Best Payment Initiatives amongst Medium Banks from IBA.

·         Bank's quarterly Hindi Magazine " VANI " has received prize in Bronze category from Association of Business Communicators, Mumbai.

•            2nd Prize for in-house Hindi magazine VANI

·         Our Bank was chosen as one of the winners (out of 36 banks) of Intelligent Enterprise Award (Category Enterprise Apps) presented by Indian Express group for the year 2017 for the product IOB PAY which is an online integration.

•          Basketball : Our Bank’s Basketball Team is No.1 in the Country for having won a Gold Medal in the recently concluded National Federation Cup held at Chittoor (May 2018).
•         In Hockey, this year, the Bank has won two State level tournaments viz. 11th Pasupathi Abdul Shadhik Memorial at Ariyalur and Invitational tournament at Madurai.
•         Our Bank’s Volleyball team is No.1 in Tamil Nadu, by virtue of winning the Prestigious State Championship @ Chennai. Besides this, we have also won Sunder Memorial State Level Tournament @ Chennai and All India Mayor’s Cup @ Bangalore.
•          Three players viz. Shri.Rupinder Pal Singh (Olympian in Hockey), Shri.A.Aravind and Shri.P.Jeevanantham (Basketball) had represented our Indian Teams in the recently held Commonwealth Games at Gold Coast, Australia 2018.

Services Offered

The following are some of the services that is offered by the Indian Overseas Bank-

Credit Facility

Loan is essential for establishing any base to grow and meet your needs. We need money to start a business, buy car, bike or home etc. To accomplish all this needs, Indian Oveseas Bank provides a credit facility in both as credit card facility and Loans

Savings Account

Savings Account is the other name of the Bank as it gives a savings opportunity to us and provides us with the interest on our idle money.

Internet Banking

Internet Banking is a service that allows the account holder to use the internet and browser to use the banking service. It is the best banking service as it enables the account holder to use the banking 24X7@365 Days.

Mobile Banking

Mobile banking uses the Smartphone to use the banking service instead of the browser which is used by laptop. It is a limited feature banking service but still meets the basic need of banking.

Balance Check Number

Indian Overseas Bank also provides the Indian Overseas Bank Missed Call Number that enables the account holder to give a missed call to the number and receive a text containing the details of the bank account balance.