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Indian Overseas Bank
3.4
based on 323 Reviews
Video summary
Company Overview
Company Locations
Working at Indian Overseas Bank
Company Summary
Indian Overseas Bank operates within the public banking sector, providing comprehensive financial services through a vast network of domestic and international branches.
Overall Rating
3.4/5
based on 323 reviews
11% below
industry average
Highly rated for
Job security
Critically rated for
Work-life balance, Work satisfaction, Company culture
Work Policy
Work from office
92% employees reported
Monday to Saturday
46% employees reported
Strict timing
69% employees reported
No travel
37% employees reported
View detailed work policy
Top Employees Benefits
Health insurance
18 employees reported
Job/Soft skill training
17 employees reported
Office cab/shuttle
8 employees reported
Cafeteria
5 employees reported
View all benefits
About Indian Overseas Bank
Founded in1937 (88 yrs old)
India Employee Count10k-50k
Global Employee Count10k-50k
India HeadquartersChennai, Tamil Nadu, India
Office Locations
--
Websiteiob.in
Primary Industry
Other Industries
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View in video summary
Indian Overseas Bank is a major public sector bank based in Chennai, India, with about 3,400 domestic branches, about 6 foreign branches and representative office. Founded in February 1937 by Shri. M. Ct
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Indian Overseas Bank Ratings
based on 323 reviews
Overall Rating
3.4/5
How AmbitionBox ratings work?
5
135
4
84
3
43
2
26
1
35
Category Ratings
4.3
Job security
3.4
Salary
3.1
Skill development
3.1
Promotions
3.0
Company culture
3.0
Work satisfaction
2.9
Work-life balance
Indian Overseas Bank is rated 3.4 out of 5 stars on AmbitionBox, based on 323 company reviews.This rating reflects an average employee experience, indicating moderate satisfaction with the company’s work culture, benefits, and career growth opportunities. AmbitionBox gathers authentic employee reviews and ratings, making it a trusted platform for job seekers and employees in India.
Read more
Gender Based Ratings at Indian Overseas Bank
based on 303 reviews
3.0
Rated by 81 Women
Rated 4.0 for Job security and 3.0 for Salary
3.6
Rated by 222 Men
Rated 4.4 for Job security and 3.6 for Salary
Work Policy at Indian Overseas Bank
based on 34 reviews in last 6 months
Work from office
92%
Hybrid
5%
Permanent work from home
3%
Indian Overseas Bank Reviews
Top mentions in Indian Overseas Bank Reviews
+ 5 more
Compare Indian Overseas Bank with Similar Companies
Change Company | Change Company | Change Company | ||
|---|---|---|---|---|
Overall Rating | 3.4/5 based on 323 reviews | 3.5/5 based on 11.3k reviews | 3.7/5 based on 17.3k reviews | 4.2/5 based on 11.8k reviews |
Highly Rated for | Job security | No highly rated category | No highly rated category | Skill development Work-life balance Salary |
Critically Rated for | Work-life balance Company culture Work satisfaction | Promotions Company culture Work satisfaction | Promotions | No critically rated category |
Primary Work Policy | Work from office 92% employees reported | Work from office 88% employees reported | Work from office 81% employees reported | Work from office 87% employees reported |
Rating by Women Employees | 3.0 Average rated by 81 women | 3.2 Average rated by 2.1k women | 3.6 Good rated by 3.8k women | 4.2 Good rated by 1.3k women |
Rating by Men Employees | 3.6 Good rated by 222 men | 3.5 Good rated by 8.7k men | 3.8 Good rated by 12.8k men | 4.2 Good rated by 10k men |
Job security | 4.3 Good | 3.5 Good | 3.7 Good | 4.1 Good |
View more
Indian Overseas Bank Salaries
Indian Overseas Bank salaries have received with an average score of 3.4 out of 5 by 323 employees.
Branch Manager
(34 salaries)
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₹8 L/yr - ₹20 L/yr
Chief Manager
(30 salaries)
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₹17 L/yr - ₹40 L/yr
Credit Manager
(19 salaries)
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₹11 L/yr - ₹17 L/yr
IT Manager
(15 salaries)
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₹12.5 L/yr - ₹20 L/yr
Banking Officer
(12 salaries)
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₹5.6 L/yr - ₹13.5 L/yr
Bank Manager
(12 salaries)
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₹7 L/yr - ₹18 L/yr
Business Correspondent
(11 salaries)
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₹1 L/yr - ₹3 L/yr
Assistant General Manager
(8 salaries)
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₹8.1 L/yr - ₹31.8 L/yr
Credit Officer
(8 salaries)
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₹11 L/yr - ₹22 L/yr
Branch Head
(7 salaries)
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₹11 L/yr - ₹14.5 L/yr
Indian Overseas Bank News
View all
Stock Market Today: All You Need To Know Before Going Into Trade On March 20
- The NSE Nifty 50 ended 0.32% higher at 22,907.60, while the BSE Sensex closed 0.2% up at 75,449.05 on Wednesday.
- Benchmark stock indices ended higher for the third consecutive day ahead of the US Federal Reserve's monetary policy decision.
- Foreign portfolio investors turned net sellers of Indian equities on Wednesday, offloading stocks worth Rs 1,096.5 crore.
- Domestic institutional investors remained net buyers for the 29th straight session, purchasing equities worth Rs 2,140.8 crore.
- Stocks to watch include companies like Hyundai Motor India, Wipro, Indian Overseas Bank, Avenue Supermarts, NHPC, and more.
- F&O cues indicate Nifty March futures went up by 0.32% at a premium of 61 points, with open interest down by 1.91%.
- Currency update: The rupee ended 13 paise higher at 86.44 against the US Dollar, extending its gaining streak for the fifth consecutive session.
- Insider trades included actions by companies like Pidilite Industries, Texmaco Infrastructure & Holdings, Westlife Foodworld, JB Chemicals, and more.
- Bulk/block deals involved transactions by companies like VL E Governance & IT Solutions, SBFC Finance, Mahindra Lifespace, AGS Transact, and AVG Logistics.
- Overall, the market showed positive momentum with various companies making strategic announcements and investors keeping an eye on global cues for further trading decisions.
Bloomberg Quint | 20 Mar, 2025
Stocks To Watch Today: Hyundai, Wipro, Indian Overseas Bank, NHPC, Avenue Supermarts
- Hyundai Motor India announced a price increase of up to 3% for its vehicles, effective April 2025.
- Wipro introduced innovative agentic AI services aimed at enabling nations worldwide to develop and implement artificial intelligence solutions.
- Indian Overseas Bank approved the issuance of long-term infrastructure bonds amounting to Rs 10,000 crore.
- Avenue Supermarts invested Rs. 175 crore in subsidiary Avenue E-commerce.
Bloomberg Quint | 20 Mar, 2025
Indian Overseas Bank To Raise Rs 10,000 Crore Via Long-Term Infra Bonds
- Indian Overseas Bank plans to raise Rs 10,000 crore via issuance of long-term infrastructure bonds.
- The funds will be used for financing or refinancing of infrastructure and affordable housing.
- In the previous quarter, Indian Overseas Bank reported a net profit of Rs 874 crore, a 21% increase compared to the same quarter last year.
- The bank's total income for the quarter was Rs 8,409 crore and its operating profit rose to Rs 2,266 crore.
Bloomberg Quint | 19 Mar, 2025
MTNL Share Price Falls After It Defaults On Payment Obligation To Banks
- Mahanagar Telephone Nigam Ltd.'s share price fell nearly 8% in Monday's session as the company defaulted on principal and interest payments to several banks.
- The total outstanding principal payment is Rs 7,794.34 crore, and the interest amount due is Rs 482.97 crore.
- MTNL defaulted principal and interest payments to Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab And Sind Bank, and Indian Overseas Bank.
- Mahanagar Telephone Nigam share price declined 7.94% to Rs 45 apiece.
Bloomberg Quint | 17 Mar, 2025
Stocks To Watch Today: IIFL Finance, Piramal Enterprises, Dalmia Bharat, NCC, Indian Overseas Bank
- IIFL Finance, Piramal Enterprises, Dalmia Bharat, NCC, Indian Overseas Bank are some stocks to watch today.
- Other stocks to watch include RailTel, Ujjivan Small Finance Bank, MSTC, Vishnu Prakash R Punglia, and Aurobindo Pharma.
- IIFL Finance approved the issuance of secured, rated, redeemable debentures through a private placement.
- Piramal Enterprises received a GST demand of Rs 1,502 crore from the Maharashtra tax authority.
Bloomberg Quint | 3 Mar, 2025
Indian Overseas Bank Gets GST Notice Of Rs 700 Crore
- Indian Overseas Bank has received a notice from the Chennai tax authority for goods and services tax liability of Rs 699.5 crore, including interest and penalty.
- The demand came after certain discrepancies were noticed with regard to annual scrutiny for assessment year 2020–21. The penalty amounts to Rs 35.3 crore.
- IOB believes that the demand is without legal justification and has taken appropriate legal recourse in the matter.
- Shares of IOB closed 4.56% lower at Rs 43.54 apiece on the BSE before the announcement.
Bloomberg Quint | 28 Feb, 2025
PSB stocks will attract investors, despite volatile markets
- Over the next year or so, the equity markets are expected to be awash with stocks of public sector banks as the government plans to offload shares or the banks may raise capital.
- The government holds a significant stake in banks such as Bank of India, UCO Bank, Bank of Maharashtra, Indian Overseas Bank, and Punjab & Sind Bank.
- The Department of Investment and Public Asset Management (DIPAM) has invited applications from investment bankers to advise on selling stakes in banks and financial institutions.
- Public sector banks need growth capital as deposit growth lags behind credit growth, with savers opting for alternative investment avenues.
HinduBusinessLine | 27 Feb, 2025
IOB mops up ₹17,000 cr fresh CASA business, targets ₹5,500 cr NPA Recovery for FY25
- Indian Overseas Bank (IOB) focuses on CASA and retail term deposits for sustainable and cost-effective growth.
- IOB has added 25 lakh new CASA customers in FY24 and another 27 lakh in the first nine months of FY25.
- IOB maintains a CASA ratio consistently above 42% and achieved a ratio of 43.37% by December 2024.
- IOB targets aggressive recovery of ₹5,500 crore from non-performing asset (NPA) accounts for FY25.
HinduBusinessLine | 22 Jan, 2025
IOB reports robust Q3 performance with higher profits & improved asset quality
- Indian Overseas Bank (IOB) reports robust Q3 performance with higher profits and improved asset quality.
- IOB posted a 21% increase in net profit, reaching ₹874 crore compared to ₹723 crore in the same period last year.
- Net interest income rose by 16% to ₹2,789 crore from ₹2,398 crore.
- IOB's gross NPA ratio dropped to 2.55% in Q3 FY25 from 3.90% a year ago.
HinduBusinessLine | 20 Jan, 2025
Indian Overseas Bank Q3 Earnings: Net Profit Rises 21% To Rs 874 Crore
- Indian Overseas Bank has reported a net profit of Rs 874 crore for the third quarter ended Dec 2024, a 21% rise compared to the previous year.
- The increase in net profit was attributed to curtailed bad loans.
- The bank's total income rose to Rs 8,409 crore during the quarter.
- The gross non-performing assets of the bank declined to 2.55% of gross loans.
Bloomberg Quint | 20 Jan, 2025
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Indian Overseas Bank FAQs
When was Indian Overseas Bank founded?
Indian Overseas Bank was founded in 1937. The company has been operating for 88 years primarily in the Banking sector.
Where is the Indian Overseas Bank headquarters located?
Indian Overseas Bank is headquartered in Chennai, Tamil Nadu.
How many employees does Indian Overseas Bank have in India?
Indian Overseas Bank currently has more than 23,000+ employees in India. BFSI, Investments & Trading department appears to have the highest employee count in Indian Overseas Bank based on the number of reviews submitted on AmbitionBox.
Does Indian Overseas Bank have good work-life balance?
Indian Overseas Bank has a work-life balance rating of 2.9 out of 5 based on 300+ employee reviews on AmbitionBox. 32% employees rated Indian Overseas Bank 3 or below for work-life balance. This rating reflects a negative sentiment among employees for work-life balance. We encourage you to read Indian Overseas Bank work-life balance reviews for more details
Is Indian Overseas Bank good for career growth?
Career growth at Indian Overseas Bank is rated as moderate, with a promotions and appraisal rating of 3.1. 32% employees rated Indian Overseas Bank 3 or below, while 68% employees rated it 4 or above on promotions/appraisal. This rating suggests that while some employees view growth opportunities favorably, there is scope for improvement based on employee feedback. We recommend reading Indian Overseas Bank promotions/appraisals reviews for more detailed insights.
What are the pros and cons of working in Indian Overseas Bank?
Working at Indian Overseas Bank comes with several advantages and disadvantages. It is highly rated for job security. However, it is poorly rated for work life balance, work satisfaction and company culture, based on 300+ employee reviews on AmbitionBox.
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