Overseas Bank Case Study

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The Constitution of the Board of the Bank is governed by “The Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970, formulated by the Central Government, after consultation with the Reserve Bank of India, in exercise of the powers conferred by section 9 of “The Banking Companies (Acquisition and Transfer of Undertakings) Ac, t 1970”. In terms of The Banking Companies (Acquisition and Transfer of Undertakings Act 1970, the General Superintendence, Direction and Management of the affairs and business of the Bank vests in the Board of Directors which is entitled to exercise all such powers and do all such acts and things as the Bank is authorized to exercise and do. IOB pioneer in Banking, Insurance and Industry with a specialization…show more content…
Indian Overseas Bank has an ISO certified in-house Information Technology department, which has developed the software that 2018 branches use to provide online banking to customers; the bank has achieved 100% networking status as well as 100% CBS status of branches with a total number of 2018 CBS branches and Extension Counters. IOB also has a network of about 771 ATMs all over India and IOB's International VISA Debit Card is accepted at all ATMs belonging to the Cash Tree and NFS networks. IOB offers internet Banking (E-See Banking) and is one of the banks that the Govt. of India has approved for online payment of taxes. The bank's business more than doubled in the last four years. According to "A profile of banks (2009-10)" published by RBI, the bank's deposits increased from Rs.50529 crore as on 31.03.06 to Rs.110795 crore as on 31.03.10 and advances from Rs.34756 crore to Rs.79004…show more content…
The bank provides its products and services to the sectors like personal banking which comprises of saving bank, current account, term deposit, retail loans, home loans, mortgage and various kinds of trade credit facilities. IOB also offers a wide range of NRI accounts like nonresident accounts (NRE), NRI remittances, foreign exchange reserves (FOREX) collections services, agri business consultancy and e-banking services. Apart from this the bank also serves the customer of corporate banking as in like Medium & Large Industries, IT & Ites BPO, Merchant Banking and Cash Management Services. Additionally the bank provides services to rural, forex, government business, tenders, citizen charter and a number of customer services. IOB also operates internationally. It has operations running in Hong Kong, Singapore, South Korea, Sri Lanka, Thailand, China, Malaysia and Vietnam. The bank is headquartered in Chennai, India. This comprehensive SWOT profile of Indian Overseas Bank provides you an in-depth strategic analysis of the company’s businesses and operations. The profile has been compiled by Global Data to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and

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