Indian Overseas Bank(IOB) Local Bank Officer (LBO) Recruitment 2025 Notification Released, Apply Online

Indian Overseas Bank (IOB) has issued the official notification for the recruitment of Local Bank Officer (LBO) posts. The IOB LBO Recruitment 2025 notification was released on 9 May 2025, and the online application process will be open from 12 May 2025 to 31 May 2025. A total of 400 vacancies are available under this recruitment drive.

Indian Overseas Bank LBO Recruitment 2025 Overview

Organization	Indian Overseas Bank (IOB)
Post Name	Local Bank Officer (LBO)
Total Vacancies	400
Application Mode	Online
Job Location	All India
Official Website	www.iob.in

Indian Overseas Bank LBO Recruitment 2025 Important Dates

• Notification Date : 09 May 2025
• Apply Online Start Date : 12 May 2025
• Last Date to Apply : 31 May 2025
• Pay Exam Fee Last Date : 31 May 2025
• Exam Date : To be released

Indian Overseas Bank LBO Recruitment 2025 Application Fee

• Gen/OBC/EWS : Rs 850/-
• SC/ST/Other : Rs 175/-
• Mode of Payment : Online

Indian Overseas Bank LBO Recruitment 2025 Age Limit

• Minimum Age : 20 Years
• Maximum Age : 30 Years
• Age Limit as on : 01/05/2025
• The age relaxation will be given as per the rules.

Indian Overseas Bank LBO Recruitment 2025 Selection Process

The Indian Overseas Bank LBO Recruitment 2025 selection process includes the following stages:

• Written Exam
• Local Language Test
• Interview Test
• Medical Examination

Indian Overseas Bank LBO Recruitment 2025 Exam Pattern

• Negative Marking : 1/4th

Post Name	Qualification
Local Bank Officer (LBO)	Graduation + Knowledge of Local Language

Subject	Question	Marks	Time
Reasoning & Computer	30	60	60 minutes
General/ Economy/ Banking Awareness	40	40	30 minutes
Data Analysis and Interpretation	30	60	60 minutes
English	40	40	30 minutes
Total	140	200	3 Hours

Indian Overseas Bank LBO Recruitment 2025 Notification PDF & Apply Online Form Link

Notification PDF

Apply Online (From 12.5.2025)

Read More

Indian Overseas Bank(IOB) Q4 profit jumps 30%

 

On Friday, May 2, Indian Overseas Bank said that its standalone net profit for Q4FY25 increased by 30% year-over-year (YoY) to ₹1,051.07 crore, up from ₹808.10 crore in the same period the previous year. 

 In comparison to the same quarter last year, when it was ₹1,961.11 crore, the bank's operating profit before provisions and contingencies for the current quarter was ₹2,617.92 crore, a 33.5 percent increase. At ₹3,123 crore, Net Interest Income (NII) grew 13% year over year. 

 During the quarter, the bank's gross non-performing assets (NPA) decreased 21.3% year over year to ₹5,347.72 crore from ₹6,794.43 crore in Q4FY24.

Additionally, net NPA decreased by 25% year over year to ₹911.86 crore from ₹1,216.86 crore. In comparison to the same quarter previous year, when it was 0.57 percent, net non-performing assets (NPA) were 0.37 percent. 

 Compared to Rs 1,961 crore during the same period last year. With the gross-non-performing assets ratio dropping to 2.14% at the conclusion of the most recent fiscal year from 2.55% three months prior and 3.10% a year earlier, the bank's asset quality improved. 

 Supported by a nearly 30% increase in retail loans and a 34% growth in agri-loans, its gross advances increased 14.15% year over year to Rs 2.50 lakh crore.Total deposits rose 9.11% to Rs 3.12 lakh crore with the share of current and savings account deposits standing at 43.65%.

Read More

Gold Loan Fraud of Rs.1.65 crore in Bank: Female Officer Fired

An assistant manager at the Rajim branch of Indian Overseas Bank was arrested for stealing more than Rs 1 crore through the issuance of fraudulent jewelry loans. Ankita Panigrahi, the accused, was apprehended from Bargarh, Odisha, by the State Economic Offenses Investigation Bureau (EOW). The police started questioning her and pursuing additional legal action after the arrest.

Ankita Panigrahi was employed in 2022 as an Assistant Manager at Indian Overseas Bank's Rajim branch in the Gariaband district. She created fictitious jewelry loan records there by abusing locked bank accounts. She was able to take out Rs 1 crore 65 lakh from the bank in fraud by doing this.

When this fraud was discovered, the bank fired her right away. The Economic Offenses Wing (EOW) then formally filed a case against her in 2023. The case was brought under Section 409 of the Indian Penal Code, which addresses criminal breach of trust by a public worker, and Section 13(a) of the Prevention of Corruption Act, 1988 (as amended in 2018).

For a long time, Ankita had been absconding (hiding from the authorities), but the EOW finally tracked her down in Bargarh, Odisha. She was taken into police custody (remand) so that officials could question her thoroughly about the fraud. The EOW is now conducting a detailed investigation to uncover the full extent of the scam and to check whether other people were involved.

Read More

Government will sell stake in three PSU banks, why this situation came?

The central government can sell stake in three big public sector banks. These three banks are UCO Bank, Punjab and Sindh Bank and Indian Overseas Bank. The government has more than 95% stake in these, the rest is with public investors.

Let us tell you that as per the Minimum Public Shareholding (MPS) rules of SEBI, all listed companies should have at least 25% public shareholding. Keeping this in mind, the government has made a plan to sell its stake.

Live Mint news quoted sources as saying that depending on market conditions, the three banks may conduct multiple rounds of qualified institutional placement (QIP) in FY2026 to meet regulatory requirements.

The government has allowed public sector banks to explore equity dilution this year and time their market offerings strategically, a source said. The stake sale is expected to be between 5-10% of the paid-up equity capital this year.

SEBI gave time till August 2026 to public sector banks to comply with the rule. At the same time, Life Insurance Corporation of India (LIC) was given time till 16 May 2027 to reach 10% public shareholding.

By December 31, 2024, seven of the 12 public sector banks—State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Indian Bank, Union Bank of India and Bank of India—had fulfilled SEBI's MPS requirement.

Bank of Maharashtra and Central Bank of India have not yet taken steps to comply with the MPS rule. Let us tell you that the government has 93.08% stake in Central Bank of India, 79.60% in Bank of Maharashtra, 95.39% in UCO Bank, 98.25% in Punjab and Sindh Bank and 96.38% in Indian Overseas Bank.

Read More

Indian Overseas Bank(IOB) Q3 Profit climbs 21% YoY

Indian Overseas Bank (IOB), a state-owned bank, reported on Monday that its consolidated net profit for the third quarter ended December 2024 increased by about 21% year-over-year (YoY) to Rs 875.27 crore, up from a profit of Rs 724.14 crore in the same period the year before. 

In the third quarter that concluded on December 31, Indian Overseas Bank's net interest income (NII), which is calculated as interest generated less interest spent, increased 16% year over year to Rs 2,789 crore from Rs 2,398 crore in the same quarter the previous year.

On the asset quality front, the lender said its gross non performing assets ratio improved to 2.55% in the third quarter of fiscal 2025, as compared to 2.72% in the previous quarter of the same financial year. Similarly, net non performing assets improved to 0.42% in the December quarter, from 0.47% in the second quarter of FY25.

Also Read - Quarterly Results of all banks for Q3FY25

In the December quarter of FY25, provisions stood at Rs 1,028.6 crore, as against Rs 701.42 crore in the same quarter last year. The provisions in the September quarter of fiscal 2025 was Rs 1,146.3 crore.

The lender’s gross non performing assets (GNPA) improved to Rs 6,070.5 crore in the third quarter of FY25, from Rs 6,249.07 crore in the previous quarter of the same financial year.

Read More

Government plans to sale stake in five PSU banks

A Rs.10,000 crore fund-raising plan for five state-run institutions via the Qualified Institutional Placement (QIP) route has been approved by the government.



According to sources, four additional lenders—Punjab & Sind Bank, Indian Overseas Bank, UCO Bank, and Central Bank of India—have been given permission to raise money in addition to the Bank of Maharashtra. According to the sources, these lenders may begin raising money in tiny installments as early as the fourth quarter of the 2025 fiscal year.

"The Department of Disinvestment and Public Asset Management (DIPAM) has also been mandated to sell a stake in these lenders through the Offer For Sale (OFS) route," the sources noted.



By August 2026, the government hopes to have a minimum of 25% of these PSU banks' shares held by the general people. The Department of Financial Services has administrative authority for state-run lenders.



According to the most recent shareholding pattern on the BSE, the government owns 79.6% of Bank of Maharashtra, 98.25% of Punjab & Sind Bank, 96.38% of Indian Overseas Bank, 95.39% of UCO Bank, and 93.08% of Central Bank of India as of the end of the December quarter.Based on the current share price, the excess government stake in these five lenders stands at nearly Rs.50,000 crore.

Read More

Indian Overseas Bank(IOB) Q2 Net profit up 24%

State-owned Indian Overseas Bank (IOB) on Thursday (October 17) reported a 24.4% year-on-year (YoY) rise in net profit at ₹777.2 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Indian Overseas Bank posted a net profit of ₹624.6 crore, the bank said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, increased 8.2%, coming at ₹2,537.3 crore against ₹2,345.8 crore in the corresponding quarter of FY24.

The gross non-performing asset (GNPA) stood at 2.72% in the September quarter against 2.89% in the June quarter. Net NPA came at 0.475% against 0.51% quarter-on-quarter.

In monetary terms, gross NPA stood at ₹6,249.1 crore against ₹6,648.7 crore quarter-on-quarter, whereas net NPA came at ₹1,059.3 crore against ₹1,153.5 crore quarter-on-quarter. Provisions stood at ₹1,146.3 crore against ₹937.9 crore quarter-on-quarter and ₹1,044.2 crore (YoY). The results came after the close of the market hours.

The Provision Coverage Ratio (PCR) rose to 97.06%, showing a year-on-year increase of 30 basis points. The Return on Assets (ROA) reached 0.82%, up 7 basis points from the previous year, while the Return on Equity (ROE) increased to 16.90%, a rise of 74 basis points year-on-year.

Total business experienced robust year-on-year growth of 12.20%, reaching ₹5,40,801 crore, compared to ₹4,82,006 crore in the previous year. Total income surged by 22.34% year-on-year to ₹8,484 crore, with interest income growing by 17.69% to ₹6,851 crore and non-interest income showing growth of 46.59%, reaching ₹1,633 crore.

The bank's Net Interest Margin (NIM) stood at 3.08%, and the Capital Adequacy Ratio (CRAR) under Basel III remained strong at 17.45%, with a Tier I component of 14.75%.

Additionally, CASA deposits improved by 10.61% year-on-year, totalling ₹1,31,856 crore, resulting in a CASA ratio of 42.44% as of September 30, 2024. The Credit to Deposit (CD) Ratio for the quarter was 74.09%.

Read More

Indian Overseas Bank(IOB) Q1 Net profit up 27%

 

Public sector lender Indian Overseas Bank on July 22 reported a net profit of Rs 633 crore in the first quarter of fiscal 2024-25, 27 percent higher than Rs 500 crore reported in the corresponding quarter last year.

Gross NPA of the bank stood at 2.89 percent against 7.13 percent last year, a reduction of 424 bps. Net NPA stood at 0.51 percent compared to 1.44 percent, with a reduction of 93 bps.

Total deposits of the bank jumped 13 percent to Rs 2.98 lakh crore from Rs 2.64 lakh crore last year. CASA improved 8 percent to Rs 1.25 lakh crore from Rs 1.16 lakh crore.

Interest income of the bank grew by 20.48 percent on Y-o-Y basis to Rs 6,535 crore in Q1FY25 as against Rs 5,424 Crore for Q1FY24.

Read More