Indian Overseas Bank Celebrates 89th Foundation Day, Announces New Initiatives and Expansion Plans

Chennai: Indian Overseas Bank (IOB) celebrated its 89th Foundation Day, marking a significant milestone in its journey. The bank announced several new initiatives and expansion plans to strengthen its customer-centric approach and digital transformation further.

Key announcements include:

• Expansion of branch network: 88 new branches opened last year, with plans to open three regional offices and 89 new branches by FY26.
• Empowering Women: IOB Stree Shakti Yojana, a scheme to support access to water, sanitation, and hygiene (WASH) facilities, providing loans up to Rs. 1 lakh for household sanitation infrastructure.
• Commitment to Social Responsibility: IOB has undertaken various CSR initiatives, including donations to the Akshaya Patra Foundation, funding cataract surgeries, and providing support to underprivileged students and differently-abled persons.
• Employee Wellness Initiatives: IOB has conducted medical check-ups, wellness programs, and sports programs to promote fitness and team spirit among employees.

Ajay Kumar Srivastava, Managing Director & CEO of IOB, emphasized the bank’s commitment to innovation, customer-centric banking, and social responsibility. As IOB approaches its 90th anniversary, the bank is dedicated to providing a seamless banking experience, encouraging innovation, and empowering communities.