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According to the CEO, Indian Overseas Bank plans to open 88 new branches in FY2024–2025

Indian Overseas Bank is charting an ambitious course for expansion, with plans to establish 88 new branches across India in the current financial year. This initiative underscores the bank’s commitment to extending its reach and services to a wider demographic, particularly in underserved rural areas.

Under the leadership of Managing Director and CEO Ajay Kumar Srivastava, the bank recently inaugurated its 3,240th branch at the Medical College in Nagapattinam, signaling the beginning of this aggressive expansion drive. This move aligns with the bank’s strategic vision to cater to the evolving needs of its customers while fostering financial inclusion.

In addition to inaugurating new branches, Indian Overseas Bank is also focused on enhancing its ATM network, with the recent opening of the 126th ATM in Puducherry. This concerted effort to bolster its physical presence reflects the bank’s commitment to providing convenient banking solutions to its customers.

Moreover, Indian Overseas Bank remains dedicated to innovation, with a pledge to introduce innovative banking products tailored to meet customer needs. This commitment to staying at the forefront of technological advancements underscores the bank’s proactive approach to addressing the changing landscape of the banking industry.

The bank’s total business crossing Rs 5 lakh crore marks a significant milestone, showcasing robust growth and indicating its formidable position within the banking sector. As Indian Overseas Bank continues to expand its footprint and introduce cutting-edge solutions, it remains poised to further solidify its standing as a trusted financial institution serving the diverse needs of its customers across the country.

Sadhna B

Sadhna B

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