Indian Overseas Bank (IOB) has outlined a set of key growth strategies aimed at improving overall operating performance as part of its ongoing non-deal roadshows with investors.
The public sector lender said it plans to strengthen its existing business franchise while leveraging digital technology capabilities and the experience of its leadership team to drive the next phase of growth.
Focus on improving operating performance
The bank said it will continue to focus on improving operational performance by fostering an organisational culture centred on quality business growth and higher productivity. It also plans to optimise operational efficiencies through technology upgrades and streamlined processes.
Strategy to enhance profitability
To ensure sustained growth in profitability, the bank will focus on expanding its RAM (Retail, Agriculture and MSME) portfolio and increasing fee-based income. It also plans to pursue strategic relationships with corporate entities and government departments to offer banking products to their employees and customers.
Strengthening portfolio quality and capital optimisation
IOB said improving asset quality and optimising capital will remain a priority. Measures include better sourcing of credit, tighter control on slippages and continuous monitoring of the loan book. The bank will also strengthen its risk management framework and internal control systems.
Push for digitisation and technology adoption
The lender plans to step up investments in technology infrastructure and in-house analytics as part of a broader digital strategy. The aim is to create a more efficient operating model while supporting the development of new business lines.
Expanding network and customer base
The bank also intends to expand its physical and digital footprint by increasing banking outlets and customer touchpoints to cover more districts. This, it said, will help widen its customer base while improving service delivery across channels through enhanced customer experience and advanced support services.
With a strong franchise in southern India and a history spanning more than 90 years, Indian Overseas Bank offers banking services to large corporates, small and medium enterprises, institutions and state-owned enterprises, as well as commercial, agricultural, industrial and retail customers, including resident and non-resident Indians.