Indian Overseas Bank

Ajay Kumar Srivastava is the Managing Director and Chief Executive Officer of Indian Overseas Bank, appointed in 2023. He is a career banker with previous leadership roles at other major public-sector institutions in India. He reports to a board of directors chaired by an appointee of the Government of India.

The bank's treasury invests predominantly in statutory liquidity ratio (SLR) securities, including government bonds, state development loans, and other approved instruments. The asset-liability committee also allocates to PSU equities, corporate bonds, and short-term interbank placements. Lending priorities are shaped by the government's priority-sector lending targets for agriculture, MSMEs, and export credit.

IOB operates banking subsidiaries in Singapore and Bangkok, branches in Hong Kong and Colombo, and a representative office in Dubai. Its international book focuses on trade finance, remittances from the Indian diaspora in Southeast Asia, and syndicated loan participation for Indian corporate clients expanding abroad.

IOB was placed under the Reserve Bank of India's prompt corrective action framework in 2015 due to elevated non-performing assets and insufficient capital levels. The PCA restrictions limited large corporate lending, branch expansion, and discretionary capital usage. The bank exited PCA in September 2023 after a multi-year clean-up that involved reducing its gross NPA ratio and raising fresh capital.

Yes. IOB Ventures Ltd is a wholly-owned subsidiary that holds the bank's equity investments in ventures and financial services companies. The bank has also used its own balance sheet for direct equity participations in regional stock exchanges, asset reconstruction companies, and deposit insurance entities.

The Government of India is the majority shareholder in IOB, holding approximately 96% of the equity following the bank's qualified institutional placement in March 2024. The remaining shares are publicly traded on the Bombay Stock Exchange and the National Stock Exchange of India. This ownership structure subjects the bank to parliamentary oversight and government banking directives.

IOB's domestic lending spans corporate term loans for infrastructure and manufacturing, working capital facilities for mid-sized firms, and retail products including home loans, vehicle loans, and education loans. A specialized MSME portfolio operates through dedicated small-enterprise branches in Tamil Nadu's industrial clusters. Agriculture credit is routed through rural branches under government crop-loan programs.