Indian Overseas Bank Share Price Target 2024 2025 2026 2027 2028 2029 2030 Fundamentals & Quarterly Results – Indian Overseas Bank (IOB) happens to be a public sector financial institution based in Chennai, India. It possesses nearly 3,250 local outlets, 2 electronic banking centers, approximately 4 international branches and a representative office. Established in February 1937 by M Ct M Chidambaram Chettiyar with the twin purposes of focusing on foreign exchange trade and international banking.
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Indian Overseas Bank Overview
Contents
Chidambaram Chettyar in 1937 established Indian Overseas Bank. In 1969, it became one of the 14 major banks that were nationalized.
| Company Name | Indian Overseas Bank |
|---|---|
| Listed at | NSE & BSE |
| Head Office | 763, Anna Salai, Chennai (Madras) Tamil Nadu 600002 |
| Board Of Directors |
|
| Official Website | iob.in |
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Indian Overseas Bank Business Profile
The Indian Overseas Bank (IOB) provides financial services to its customers through a variety of channels including the internet and mobile phones. Their main products include personal loans, credit cards, savings accounts, internet banking and NRI accounts among others. They also offer current accounts as well as retail banking such as term deposits, second party insurances and online payments. As a diversified bank, IOB has specialized departments for corporate banking as well as rural banking designed primarily for micro small and medium sized enterprises (MSMEs) growth and development of merchant banks.
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Improvement in Asset Quality
This has enabled the bank to enhance asset quality. The slippage ratio of the Bank decreased by 200 basis points to 0.87% against FY23’s 2.87% in FY24. The bank registered a 6.2% higher recovery for FY24 than its FY23 recovery. Ultimately, this led to a decline in slippages from Rs 4,029 Cr (in FY23) to Rs 1,516 Cr (in FY24).
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Branch Network
In Q1 FY25, the bank’s presence in India is made up of approximately 3,250 branches, approximately 3500 ATMs as well as an estimated 7000 business correspondents while in FY22 it had around 3200 branches,3350 ATMs and2650 business correspondents.
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Semi-Urban: 30%
Rural: 28%
Metro: 22%
Urban: 20%
Currently, it has opened 22 specialised SME branches across PAN India, identified 144 MSME branches with growth potential and designated them as MSME focused branches.
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International Business
The bank has 4 overseas branches, one located in each of Singapore, Hong Kong, Bangkok, and Colombo. It also has a 35% joint venture in Malaysia that is currently going through voluntary winding up process. Overseas advances represented ~8 percent of its global advances in the first quarter of FY25.
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Insurance Business
A bank holds 18% of the shareholding in Universal Sompo General Insurance Co. Ltd., which is an insurer that deals with non-life sector, and is also open for business altogether other investors of Universal Sompo include corporations like: Indian Bank, Dabur Investment, Sompo Japan, and Karnataka Bank. Banks such as Allahabad Bank and Karnataka Bank have entered into a bancassurance agreement with Universal Sompo.
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New Products
As part of its product development strategy in FY24, the bank has introduced a number of new offerings including ‘Personal Loan Top Up scheme’ for the ‘A category’ Personal Loan patrons with an upper limit of Rs. 7.50 Lakh and Loan Against Sovereign Gold Bond which comes under Capital Light Asset Product.
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Indian Overseas Bank Fundamentals & Quarterly Results
| Metric | Value |
|---|---|
| Market Cap | ₹ 1,17,365 Cr. |
| Current Price | ₹ 62.1 |
| High / Low | ₹ 83.8 / ₹ 30.0 |
| Stock P/E | 42.1 |
| Book Value | ₹ 14.8 |
| Dividend Yield | 0.00 % |
| ROCE | 5.41 % |
| ROE | 9.98 % |
| Face Value | ₹ 10.0 |
| FCF Prev Ann | ₹ -16,155 Cr. |
| Debt to Equity | 11.3 |
| Debt Preceding Year | ₹ 2,81,687 Cr. |
| Reserves | ₹ 9,040 Cr. |
| Quick Ratio | 4.53 |
| Current Ratio | 4.53 |
| Free Cash Flow | ₹ -1,525 Cr. |
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Indian Overseas Bank Quarterly Results
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,435 | 4,718 | 5,056 | 5,192 | 5,424 | 5,821 | 6,176 | 6,629 | 6,535 |
| Interest | 2,681 | 2,764 | 2,784 | 2,916 | 3,102 | 3,475 | 3,778 | 3,866 | 4,094 |
| Expenses | 1,951 | 2,582 | 2,662 | 2,820 | 2,618 | 2,827 | 2,581 | 4,047 | 2,736 |
| Financing Profit | -197 | -629 | -390 | -544 | -296 | -481 | -183 | -1,284 | -295 |
| Financing Margin % | -4% | -13% | -8% | -10% | -5% | -8% | -3% | -19% | -5% |
| Other Income | 593 | 1,135 | 950 | 1,430 | 803 | 1,114 | 1,262 | 2,477 | 1,033 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 396 | 506 | 560 | 886 | 507 | 633 | 1,079 | 1,193 | 738 |
| Tax % | 1% | 1% | 1% | 27% | 1% | 1% | 33% | 32% | 14% |
| Net Profit | 392 | 501 | 555 | 650 | 500 | 625 | 723 | 808 | 633 |
| EPS in Rs | 0.21 | 0.27 | 0.29 | 0.34 | 0.26 | 0.33 | 0.38 | 0.43 | 0.33 |
| Gross NPA % | 9.12% | 8.53% | 8.19% | 7.44% | 7.13% | 4.74% | 3.90% | 3.10% | 2.89% |
| Net NPA % | 2.43% | 2.56% | 2.43% | 1.83% | 1.44% | 0.68% | 0.62% | 0.57% | 0.51% |
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CAGR Report
| Metric | 10 Years | 5 Years | 3 Years | TTM / 1 Year |
|---|---|---|---|---|
| Compounded Sales Growth | 1% | 6% | 12% | 23% |
| Compounded Profit Growth | 16% | 22% | 47% | 26% |
| Stock Price CAGR | 0% | 44% | 47% | 99% |
| Return on Equity | -10% | -1% | 9% | 10% |
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 89.74% | 92.52% | 95.84% | 95.84% | 96.38% | 96.38% | 96.38% | 96.38% |
| FIIs | 0.54% | 0.27% | 0.18% | 0.07% | 0.08% | 0.14% | 0.05% | 0.05% |
| DIIs | 5.99% | 3.18% | 1.66% | 1.59% | 1.31% | 1.35% | 1.29% | 1.30% |
| Public | 3.73% | 4.04% | 2.32% | 2.50% | 2.23% | 2.11% | 2.28% | 2.27% |
| No. of Shareholders | 2,50,816 | 2,71,947 | 2,73,860 | 3,78,586 | 4,73,897 | 5,09,599 | 10,06,185 | 9,96,568 |
| Year | Initial Target | Mid-Year Target | Year-End Target |
|---|---|---|---|
| 2024 | ₹86.74 | ₹115.57 | ₹132.87 |
| 2025 | ₹136 | ₹128 | ₹153 |
| 2026 | ₹156 | ₹147 | ₹174 |
| 2027 | ₹177 | ₹167 | ₹200 |
| 2028 | ₹204 | ₹191 | ₹227 |
| 2029 | ₹232 | ₹218 | ₹260 |
| 2030 | ₹265 | ₹248 | ₹297 |
| Month | Target |
| January | ₹136 |
| February | ₹139 |
| March | ₹142 |
| April | ₹137 |
| May | ₹132 |
| June | ₹128 |
| July | ₹133 |
| August | ₹138 |
| September | ₹144 |
| October | ₹147 |
| November | ₹150 |
| December | ₹153 |
| Month | Target |
| January | ₹156 |
| February | ₹159 |
| March | ₹162 |
| April | ₹157 |
| May | ₹152 |
| June | ₹147 |
| July | ₹153 |
| August | ₹159 |
| September | ₹165 |
| October | ₹168 |
| November | ₹171 |
| December | ₹174 |
| Month | Target |
| January | ₹177 |
| February | ₹181 |
| March | ₹185 |
| April | ₹179 |
| May | ₹173 |
| June | ₹167 |
| July | ₹174 |
| August | ₹181 |
| September | ₹188 |
| October | ₹192 |
| November | ₹196 |
| December | ₹200 |
| Month | Target |
| January | ₹204 |
| February | ₹208 |
| March | ₹212 |
| April | ₹205 |
| May | ₹198 |
| June | ₹191 |
| July | ₹199 |
| August | ₹207 |
| September | ₹215 |
| October | ₹219 |
| November | ₹223 |
| December | ₹227 |
| Month | Target |
| January | ₹232 |
| February | ₹237 |
| March | ₹242 |
| April | ₹234 |
| May | ₹226 |
| June | ₹218 |
| July | ₹227 |
| August | ₹236 |
| September | ₹245 |
| October | ₹250 |
| November | ₹255 |
| December | ₹260 |
| Month | Target |
| January | ₹265 |
| February | ₹270 |
| March | ₹275 |
| April | ₹266 |
| May | ₹257 |
| June | ₹248 |
| July | ₹258 |
| August | ₹268 |
| September | ₹279 |
| October | ₹285 |
| November | ₹291 |
| December | ₹297 |
Official Website – iob.in