Indian Overseas Bank — Board Meeting, 18-07-2025: Outcome of Board Meeting

Indian Overseas Bank's board has approved the financial results for the quarter ended June 30, 2025. The bank's Provision Coverage Ratio stands strong at 97.47%. A significant structural update involves the amalgamation of Utkal Grameen Bank with Odisha Gramya Bank, with IOB now holding 35% in the new associate. Additionally, its joint venture, India International Bank (Malaysia) Berhad, is undergoing a voluntary winding-up process. The bank also reversed ₹62.43 crore of excess provisions from stressed loan sales and was levied a minor RBI penalty of ₹0.64 crore.