Bhubaneswar: Indian Overseas Bank MD & CEO R. Subramania Kumar  Sunday said that the gross NPA of the bank is on the declining trend where as it is a cause of concern for the other banks.

Subramania Kumar was speaking to media persons, here on Sunday.

The IOB MD said the low cost deposit of the bank is on the growth side with 36% which is above the banking industry average and we are at 4th position amongst other peer banks. Bank has shown a Year- on- Year (YoY) growth of 33% in retail loan segment and growth of 26% in the MSME segment. Recently on 09.02.2018 the international rating agency, the Moody’s Investors Service, has changed the Outlook of Indian Overseas Bank (IOB) to Positive from Stable.

“Our Bank has been one of the pioneers in New Age Digital banking products and services offering various digital products like Internet Banking, Mobile Banking, MPASSBOOK, IOB NANBAN Mobile App, IOB Rewardz, IOB Connect, BHIM IOB- UPI, IOB- SAHAYAK App, IOB Pay & Payment Gateway, BHIM Aadhar Pay, VISA Prepaid Card, Multi Currency Prepaid Card, Green PIN for hassle free & paperless banking transactions.”

The IOB is having 130 branches in Odisha to cater to the various banking need of the people of the state. The bank, which has two regional offices at  Bhubaneswar and  Berhampur, is focusing on retail and MSME segments.   IOB-Bhubaneswar Region with a total business mix of Rs.5363.21 crores is focusing on MSME segment by disbursement of MUDRA  and Stand Up India Loans. The region is also aiming to bring more people under the umbrella of the banking sector by opening of savings bank account under Pradhan Mantri Jan Dhan Yojna (PMJDY), Pension scheme – Atal Pension Yojna (APY), Insurance Scheme- Pradhan Mantri Jeevan Jyoti (PMJJY), Pradhan Mantri Awas Yojna (PMAY), Agriculture Loans & retails Loans in the days to come. Indian Overseas Bank Bhubaneswar Region was adjudged as the Best Public Sector Bank in the State of Odisha in the year 2016-17 by the state government for achieving all the parameters.

IOB sponsored Odisha Gramya Bank  is  having its presence in the 13 districts of the state with 549 branches .

IOB, one of the oldest PSU banks  with a total global business mix of Rs.3,68,128 crores  is having a strong domestic presence of 3342 branches, 3278 ATMS with 2713 business correspondents providing extended reach and Overseas presence with 8 branches and one representative office catering to 35 million active customers.