HDFC Bank Limited
NSE: HDFCBANK
Financial Services · Banks - Regional
₹692.80 last close on 23 Oct 2026 −0.18%
Research updated
Indian Overseas Bank
NSE: IOBFinancial ServicesBanks - Regional
- Last close
- ₹28.68
- Day change
- −₹1.18 (−3.95%)vs
- Market cap
- ₹55,228 crIndian rupees
- Research updated
- 2 reports
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About Indian Overseas Bank
Indian Overseas Bank is a comprehensive public sector banking and financial services company based in India. Established in 1937, the bank primarily focuses on providing a wide array of retail banking, corporate banking, and international banking services. Its offerings include savings and current accounts, fixed deposits, and loans such as personal, home, and education loans to cater to the diverse needs of individual customers. In addition to traditional banking products, Indian Overseas Bank facilitates financial inclusion through its digital banking platforms and mobile applications, enabling seamless and secure transactions. Indian Overseas Bank plays a crucial role in the Indian economy by supporting various sectors, including agriculture, small and medium enterprises, and the retail sector, through its extensive network of branches across India and abroad. By providing comprehensive trade finance and forex services, the bank also supports the international business community, promoting cross-border commercial activities. As a constituent of the Indian government’s banking reforms and initiatives, Indian Overseas Bank significantly contributes to the financial stability and development of the nation. Through its enduring legacy, the bank continues to enhance its customer-centric services and expand its footprint in the dynamic financial landscape.
- Sector
- Financial Services
- Industry
- Banks - Regional
- Listing
- NSE: IOB
- Next results
- Chief executive
- Mr. Ajay Kumar Srivastava
- Employees
- 21,034
- Headquarters
- Chennai, India
- ISIN
- INE565A01014
- Website
- iob.bank.in
Public research · Report of
Business model & financial foundation
IOB (NSE: IOB), Public sector bank: revenue of ₹18,210 crore in FY26 (+10.8% on FY25) and net profit of ₹5,208 crore.
- Revenue, FY26 (₹ crore)
- 18,210
- standalone
- Revenue growth, FY26
- +10.8%
- on FY25
- Net profit, FY26 (₹ crore)
- 5,208
- to owners
- Return on equity, FY26
- 14.9%
- on average equity
- Market capitalisation (₹ crore)
- 59,291
- at the close of 24 Oct 2026
Company profile
Indian Overseas Bank is a Chennai-headquartered public sector bank with about 3,500 domestic branches, total business of Rs6.98 lakh crore at June 2026 and overseas branches in Singapore, Hong Kong, Bangkok and Colombo. After exiting RBI's prompt corrective action framework in 2021 it has rebuilt profitability: FY26 net profit Rs5,208 crore, GNPA 1.42%. Lending is tilted to retail, agriculture (jewel loans) and MSME (RAM 79% of advances).
| Item | Value |
|---|---|
| Legal name | Indian Overseas Bank |
| Exchange and ticker | NSE: IOB; BSE: 532388 |
| ISIN | INE565A01014 |
| Sector | Financials |
| Industry | Public sector bank |
| Headquarters | Chennai, India |
| Fiscal year end | March |
| Reporting basis and unit | standalone, in ₹ crore |
| Auditor | Four joint statutory central auditors appointed under RBI norms (names not read this run) |
| Market capitalisation | ₹59,291 crore (24 Oct 2026) |
| Price | ₹28.68 (close, 24 Oct 2026) |
| 52-week range | ₹28.42 - ₹41.29 (to 24 Oct 2026) |
| Website | https://www.iob.in |
Corporate structure and shareholding
Parent: Government of India (92.44% at Jun-26).
| Entity | Holding | Business |
|---|---|---|
| Regional rural bank associates (post-April 2025 amalgamation) | n.d. | Sponsored regional rural banks, equity-accounted in consolidated results |
No material operating subsidiaries identified; consolidated vs standalone difference is the associates' share. Detailed AOC-1 not read this run.
| Shareholding (% of shares) | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoter | 94.61% | 92.44% | 92.44% | 92.44% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 0.31% | 0.35% | 0.43% | 0.47% |
| Domestic institutions | 2.30% | 4.27% | 4.28% | 4.29% |
| of which mutual funds | 0.24% | |||
| Retail | 2.80% | |||
| Other | 0.00% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Indian Overseas Bank is a Chennai-headquartered public-sector bank whose standalone book was Rs3.22 lakh crore of advances and Rs3.76 lakh crore of deposits at June 2026. The business is RAM-led (retail, agriculture and MSME), with spread income supplemented by recoveries, priority-sector lending certificates (PSLC) and treasury income. Government ownership was 92.44% at June 2026.
| Peer | Why the dossier compares them |
|---|---|
| UCO Bank (UCOBANK) | Small PSB still above 90% government holding, same MPS overhang |
| Central Bank of India (CENTRALBK) | Turnaround PSB of similar size undergoing government dilution |
| Punjab & Sind Bank (PSB) | Low-float PSB with MPS overhang |
| Bank of Maharashtra (MAHABANK) | High-ROE small PSB, closest on returns and growth |
| Bank of India (BANKINDIA) | Mid-size PSB with similar market cap |
| Canara Bank (CANBK) |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Interest earned | 16,730 | 19,401 | 24,050 | 28,131 | 31,896 |
| Interest expended | 10,419 | 11,145 | 14,221 | 17,241 | 19,322 |
| Net interest income | 6,311 | 8,256 | 9,829 | 10,890 | 12,574 |
| Other (non-interest) income | 4,903 | 4,108 | 5,656 | 5,545 | 5,636 |
| Operating expenses | 5,451 | 6,422 | 8,722 | 7,747 | 8,184 |
| Operating profit (pre-provision) | 5,763 | 5,942 | 6,764 | 8,688 | 10,026 |
| Net profit to shareholders (standalone) | 1,710 | 2,099 | 2,656 | 3,335 | 5,208 |
| Provisions and contingencies (ex tax) | 3,594 | 3,350 | 4,176 | 3,759 | |
| Staff expenses | 4,666 | 4,688 | |||
| Other operating expenses | 3,081 | 3,496 | |||
| Operating income (NII + other income) | 11,214 | 12,364 | 15,485 | 16,435 | 18,210 |
| Net profit | 1,710 | 2,099 | 2,656 | 3,335 | 5,208 |
| EPS (INR, as reported) | 0.92 | 1.15 | 1.40 | 1.76 | 2.70 |
| Profit before tax | 2,348 | 3,413 | 4,512 | 6,268 | |
| Tax expense | 249.0 | 757.0 | 1,177 | 1,060 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net worth (capital + reserves) | 23,000 | 25,263 | 27,942 | 32,541 | 37,516 |
| Total assets | 2,99,377 | 3,13,734 | 3,52,034 | 3,95,017 | 4,73,320 |
| Deposits | 2,62,159 | 2,60,883 | 2,85,905 | 3,11,204 | 3,68,191 |
| Investments | 98,179 | 94,170 | 99,632 | 1,11,045 | 1,19,810 |
| Net advances | 1,44,244 | 1,78,053 | 2,13,319 | 2,45,555 | 3,06,622 |
| Gross global advances | 1,89,009 | 2,19,018 | 2,50,019 | 3,10,423 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations * | 4,524 | -411.8 | 4,943 | 3,021 | 4,780 |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Operating income (NII + other income) | 4,171 | 4,087 | 4,704 | 4,227 | 4,424 | 4,798 | 4,761 | 5,848 |
| Profit before tax | 982.0 | 1,238 | 1,554 | 1,514 | 1,727 | 1,367 | 1,659 | 1,859 |
| Tax expense | 205.0 | 364.0 | 503.0 | 403.0 | 501.0 | 2.00 | 154.0 | 200.0 |
| Net profit | 777.0 | 874.0 | 1,051 | 1,111 | 1,226 | 1,365 | 1,505 | 1,659 |
| EPS standalone (INR) | 0.41 | 0.46 | 0.55 | 0.58 | 0.64 | 0.71 | 0.78 | 0.86 |
| Interest earned | 6,851 | 7,112 | 7,634 | 7,386 | 7,849 | 8,172 | 8,489 | 8,778 |
| Interest expended | 4,313 | 4,323 | 4,511 | 4,639 | 4,790 | 4,874 | 5,019 | 5,090 |
| Net interest income | 2,538 | 2,789 | 3,123 | 2,746 | 3,059 | 3,299 | 3,470 | 3,688 |
| Other (non-interest) income | 1,633 | 1,298 | 1,581 | 1,481 | 1,365 | 1,499 | 1,291 | 2,160 |
| Staff expenses | 1,341 | 1,069 | 1,132 | 1,166 | 1,172 | 1,344 | 1,006 | 2,104 |
| Other operating expenses | 702.0 | 751.0 | 954.0 | 703.0 | 853.0 | 850.0 | 1,090 | 1,050 |
| Operating expenses | 2,042 | 1,820 | 2,086 | 1,869 | 2,025 | 2,195 | 2,096 | 3,155 |
| Operating profit (pre-provision) | 2,128 | 2,266 | 2,618 | 2,358 | 2,400 | 2,603 | 2,665 | 2,693 |
| Provisions and contingencies (ex tax) | 1,146 | 1,028 | 1,063 | 844.0 | 673.0 | 1,236 | 1,006 | 834.0 |
| Net profit to shareholders (standalone) | 777.0 | 874.0 | 1,051 | 1,111 | 1,226 | 1,365 | 1,505 | 1,659 |
Standalone, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 10.3% | 25.2% | 6.1% | 10.8% | |
| Net margin | 15.2% | 17.0% | 17.2% | 20.3% | 28.6% |
| Return on equity | 8.5% | 8.7% | 10.0% | 11.0% | 14.9% |
| Return on assets | 0.6% | 0.7% | 0.8% | 0.9% | 1.2% |
| EPS, diluted (₹) | 0.92 | 1.15 | 1.40 | 1.76 | 2.70 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on assets: net profit to owners / average total assets.
- EPS, diluted (₹): as reported (EPS (INR, as reported)).
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 2, information to 24 Oct 2026); market data at the close of 24 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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What the full research on Indian Overseas Bank includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
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Report history
Reports on Indian Overseas Bank
- Research reportLatest
- Research report
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Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 24 Oct 2026; page updated 25 Oct 2026.
Mool’s research is written by AI agents and published by Mool Capital Private Limited, a SEBI-registered Research Analyst, registration INH000012449, which is responsible for it. This page shows factual company information and an excerpt of that research; it carries no rating and is not investment advice for any individual. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Read the disclosures.