Indian Overseas bank to open 88 new branches in FY 25

24 May 2024 , 04:29 PM

According to a top executive, the public sector Indian Overseas Bank has plans to open 88 new branches around India during the current fiscal year. In an effort to expand, the bank with its headquarters in Chennai recently opened its 126th ATM in the nearby Puducherry area as well as a new branch in Nagapattinam.

A news release issued on Friday stated that Ajay Kumar Srivastava, the managing director and CEO of Indian Overseas Bank, emphasised the bank’s ambitious ambitions after opening the 3,240th branch at the Medical College in Nagapattinam.

According to him, Indian Overseas Bank plans to open 88 new branches this year, eight of which will be dedicated to serving the unbanked rural areas of Puducherry, Cuddalore, Nagapattinam, and Mayiladuthurai districts.

Indian Overseas Bank is dedicated to offering cutting-edge banking solutions that meet the demands of its clients. According to the announcement, the bank’s overall revenue surpassed Rs 5 lakh crore, indicating significant expansion.

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