IOB FULL FORM

IOB FULL FORM

Full Form of IOB : The full form of IOB is Indian Overseas Bank.

What is the full form of IOB?

No:1. The full form of IOB is Indian Overseas Bank.
No:2. IOB was established in 1937 as a public sector bank to specialize in international exchange & international banking.
No:3. It has its head office in Chennai, India.
No:4. It serves in finance, banking services, retail banking and related segments of banking activities.
No:5. By implementing a personal loan system, IOB was the very first bank to expand into consumer lending.
No:6. IOB was among the Fourteen main financial institutions owned by the government of India during the nationalization phase.

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Tie-Ups of IOB

No:1. IOB, along with Karnataka Bank, Allahabad Bank & Dabur Investments, joined into a non-life insurance business with USGI (Universal Sompo General Insurance) Company Limited with a 19% equity stake.
No:2. IOB has an agreement with Apollo Munich Health Insurance to provide its clients with advanced medical & personal injury services.

Milestones

No:1. 1957 – Bank established its own training center
No:2. 1964 – Inauguration of IOB’s Head Office in Mount Road.
No:3. 1974 – Official Language Department established in 1974
No:4. 1984 – 1000th branch opened
No:4. 1991 – Bank moved its Staff College premises to an own spacious learning zone at Koyambedu
No:5. 1996 – Banks profit reached INR 100 cr. for the first time i.e. USD16.69Mn [1USD=Rs.59.9150] No:6. 2000 – Initial Public Offer. Follow on Public Offer in 2003.
No:7. The first public sector bank to introduce anywhere banking at its 129 branches in the four metros, is extending the connectivity to another 100 branches .
No:8. The first public sector bank in the country to introduce mobile banking services using the Wireless Application Protocol (WAP).
No:9. 2005 – Launched Debit Card
No:10. 2006 – Launched VISA Card, Retail Sale of Gold and Non-Life Joint Insurance Bank reached INR 1 lac crore mark in Total Business
No:11. 2006 – 07 Net Profit reached INR 1000 Cr.(US$229.78 Mn) [1USD= Rs.43.5200] Bharat Overseas Bank Ltd. Was merged with IOB and First Offsite ATM at Kamatchi Hospital, Chennai
No:12. 2009 – 100% CBS
No:13. 2010 – 2000th Branch -Yamuna Vihar, New Delhi-opened
No:14. 2011-12 – No. of Branches in Tamil Nadu reached 1000, and IOB celebrated Platinum Jubilee 2012–13. As on 31.3.2013, total deposits reached INR 202,135 cr. (US$37,236Mn.) [1USD =Rs.54.2850]As on 31.3.2013, Total Advances reached INR 164,366cr. (US$30,278 Mn.) As on 31.3.2013, Total Business Mix is at INR 366,501cr. (US$67,514Mn.), Total No. of Branches 2908
No:15. 2014-15 Bank has surpassed the landmark of 3000 ATMs as on 31.07.2014 – Tirumalaipatti Branch
No:16. 015 – IOB launched new Mobile Banking, m Passbook applications.
No:17. 2015-IOB started migration from its in-house CBS platform to Finacle.
No:18. January 2016- All branches successfully migrated from in house CBS platform “CROWN” to FINACLE.

Joint Ventures/Tie Ups

No:1. IOB entered into Non-Life Insurance Business with USGI Company Limited with equity participation of 19% along with Allahabad Bank, Karnataka Bank, and Dabur Investments.
No:2. IOB has tie-up with Apollo Munich Health Insurance to provide specialized health and personal accident products to its customers.
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No.-1. Download 15000 One Liner Question Answers PDF

No.-2. Free Download 25000 MCQ Question Answers PDF

No.-3. Complete Static GK with Video MCQ Quiz PDF Download

No.-4. Download 1800+ Exam Wise Mock Test PDF

No.-5. Exam Wise Complete PDF Notes According Syllabus

No.-6. Last One Year Current Affairs PDF Download

No.-7. Join Our Whatsapp Group

No.-8. Join Our Telegram Group

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