Indian Overseas Bank(IOB) Local Bank Officer(LBO) Recruitment 2026

Indian Overseas Bank has released notification for recruitment of candidates to the post of LBO (Local Bank Officer).

Particular	Details
Organization	Indian Overseas Bank (IOB)
Post Name	Local Bank Officer (LBO)
Grade	JMGS-I / Scale-I
Advertisement No.	HRDD/RECT/02/2026-27
Total Vacancies	250
Application Mode	Online
Application Start Date	08 August 2026
Last Date to Apply	24 August 2026
Selection Process	Online Exam, LPT & Personal Interview

Indian Overseas Bank LBO Recruitment 2026 Important Dates

Important Events	Dates
Commencement of online registration of application	08/08/2026
Closure of registration of application	24/08/2026
Closure for editing application details	24/08/2026
Last date for printing your application	08/09/2026
Online Fee Payment	08/08/2026 to 24/08/2026

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Click here to Apply Online

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Indian Overseas Bank(IOB) Q1 net profit rises 49%

 

Aided by robust growth in net interest income and non-interest revenue, Indian Overseas Bank (IOB) stated on Monday that its net profit for the first quarter of FY27 increased by 49.32 percent year over year to ₹1,659 crore from ₹1,111 crore in the same time last year. Net profit increased by 10.23 percent from ₹1,505 crore in Q4 of FY26.

 

The quarter's net interest income (NII) was ₹3,688 crore, up 34.30 percent from the same period last year. This was due to the ongoing moderation in the cost of deposits, which decreased to 4.70 percent from 5.10 percent.

 

Priority sector lending certificate (PSLC) commission increased more than thrice to ₹863 crore, driving a 45.85 percent year-over-year increase in non-interest income to ₹2,160 crore.

Non-interest income has shown a growth of 45.85 per cent, primarily driven by PSLC sales and recovery from technically written-off accounts, in addition to normal non-interest income," said Ajay Kumar Srivastava, Managing Director and CEO of Indian Overseas Bank.

 

The bank's domestic net interest margin (NIM) improved by 31 basis points year-on-year to 3.48 per cent in the June quarter, while global NIM rose by 33 basis points to 3.37 per cent.

 

Total provisions declined 1.18 per cent year-on-year to ₹834 crore from ₹844 crore in Q1 FY26, even as they fell 17.10 per cent sequentially from ₹1,006 crore in Q4 FY26. Of this, NPA provisions dropped sharply by 40.45 per cent year-on-year to ₹106 crore, while other provisions rose 9.31 per cent to ₹728 crore.

Operating expenses rose 68.81 per cent year-on-year to ₹3,155 crore in Q1 FY27, driven largely by an 80.45 per cent jump in staff expenses to ₹2,104 crore. Other expenses grew 49.36 per cent to ₹1,050 crore. The sharp rise in staff costs pushed the cost-to-income ratio up to 53.95 per cent from 44.22 per cent a year earlier.

On asset quality, gross non-performing assets (GNPA) stood at ₹4,292 crore as of June 2026, down 17.11 per cent from ₹5,178 crore a year earlier. Net NPAs fell 27.94 per cent to ₹588 crore from ₹816 crore. The GNPA ratio improved to 1.33 per cent from 1.97 per cent a year ago and 1.42 per cent in the previous quarter. The net NPA ratio stood at 0.18 per cent, compared with 0.32 per cent a year ago and 0.21 per cent in Q4 FY26. The provision coverage ratio (PCR) improved to 97.67 per cent from 97.47 per cent a year earlier.

The bank's capital adequacy ratio (CRAR) stood at 19.36 per cent as of June 2026, compared with 18.28 per cent a year earlier and 19.78 per cent in the preceding quarter.

 

On the business front, global advances stood at ₹3.22 trillion as of June 2026, up 22.75 per cent year-on-year, while total deposits rose 13.72 per cent to ₹3.76 trillion, taking the bank's total business to ₹6.98 trillion, up 17.72 per cent. The retail, agriculture and MSME (RAM) segment continued to gain share, rising to 81.21 per cent of domestic advances from 73.39 per cent a year earlier, with agriculture advances up 46.84 per cent and retail advances up 36.49 per cent year-on-year.

Current and savings account (CASA) deposits grew 6.61 per cent year-on-year to ₹1.54 trillion, though the CASA ratio (as a percentage of total deposits) slipped to 41.05 per cent (global) from 43.78 per cent a year earlier as term deposits grew faster. The credit-deposit ratio rose to 85.63 per cent (global) from 79.33 per cent, up 630 basis points year-on-year.

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Indian Overseas Bank(IOB) Apprentice Vacancy Out

Indian Overseas Bank (IOB) has released the official notification for the recruitment of Apprentices for the financial year 2026-27 under the Apprentices Act, 1961. A total of 750 apprentice vacancies will be filled across various States and Union Territories in India.

IOB Apprentice Recruitment 2026 Important Dates

• Notification Release Date: 06 July 2026
• Online Application Start Date: 07 July 2026
• Last Date to Apply: 20 July 2026 up to 11:59 PM
• Fee Payment Last Date: 22 July 2026
• Examination Date: 02 August 2026

Indian Overseas Bank Apprentice Recruitment 2026 Educational Qualification

Post Name	Qualification
Apprentice	Bachelor’s Degree in Any Stream and Knowledge of the Local Language

IOB Apprentice Recruitment 2026 Vacancy Details

There are a total of 750 vacancies for this recruitment. State-wise vacancies are as follows:

Indian Overseas Bank Apprentice Recruitment 2026 Notification

• Download Notification PDF

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Allahabad highcourt fines Rs.50000 to bank for freezing customer account

 

If a customer's account credit exceeds their claimed income, Channel Banks will freeze their account. Consumers are becoming irate, and the Allahabad High Court heard one such case.

The Allahabad High Court's Lucknow Bench has expressed concern about banks blocking client accounts without good cause. According to the Court, a bank shouldn't act like an investigative body since it functions as a trustee.

Indian Overseas Bank was fined ₹50,000 by a Division Bench consisting of Justices Shekhar B. Saraf and Awadhesh Kumar Chaudhary. A customer's account was locked by the bank without good reason. The bank was mandated by the court to reimburse the account holder for this sum within four weeks.

The lawsuit concerns M/s S.A. Enterprises, a business that sells fish farming equipment. A petition was filed by the business against the bank. According to the suit, on January 16, 2026, RTGS credited ₹23 lakh to the company's account. 

This transaction was viewed as suspicious by the bank, which froze the account. The bank said that the company had only reported an annual income of ₹5.76 lakh at the time the account was opened. The bank blocked the account as a result, invoking the Prevention of Money Laundering Act. The High Court pointed out that no cybercrime report was the reason the account was frozen.

The bank behaved as an investigative agency and took independent action. The Court made it quite plain that banks are not allowed to determine the source of cash on their own. An order from the Central Bureau of Investigation, the Police, or the Enforcement Directorate is required in order to freeze an account.

Additionally, the Court stated that the practice of freezing accounts without a valid justification is concerning. Such acts have the potential to halt corporate operations and harm account holders' reputations.

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Indian Overseas Bank(IOB) Q4 results: Profit rises 43%

State-owned Indian Overseas Bank(IOB) reported a 43.2 per cent increase in net profit year-on-year to ₹1,505 crore for the fourth quarter of FY26, compared with ₹1,051 crore in the year-ago period, aided by a rise in net interest income (NII) coupled with a fall in provisions.

 

Net interest income (NII) for the quarter stood at ₹3,470 crore, up 11.1 per cent year-on-year and 5.2 per cent sequentially.

 

Provisions and contingencies declined 5.4 per cent year-on-year to ₹1,006 crore from ₹1,063 crore in Q4 FY25.

 

Operating profit before provisions and contingencies increased 1.8 per cent year-on-year to ₹2,665 crore.

Other income declined 18.4 per cent year-on-year to ₹1,291 crore and fell 13.9 per cent sequentially.

 

“During the fourth quarter, we incurred a treasury loss of about ₹555 crore, largely on account of mark-to-market and revaluation impacts. For the full financial year, treasury losses stood at around ₹380 crore,” said Ajay Kumar Srivastava, managing director and chief executive officer (CEO) of Indian Overseas Bank.

 

Net interest margin (NIM) moderated during the quarter, with domestic NIM declining to 3.35 per cent from 3.77 per cent a year ago (down 42 basis points) and global NIM easing to 3.25 per cent from 3.58 per cent (down 33 basis points). On a sequential basis, both domestic and global NIMs declined by 7 basis points.

On the asset quality front, gross non-performing assets (GNPA) declined 17.5 per cent year-on-year to ₹4,410 crore, while net NPAs fell 30.1 per cent to ₹638 crore. In percentage terms, the GNPA ratio improved to 1.42 per cent from 2.14 per cent a year ago, while the net NPA ratio eased to 0.21 per cent from 0.37 per cent.

 

On the business front, total advances grew 24.2 per cent year-on-year to ₹3.10 trillion, driven by 34.9 per cent growth in retail, agriculture, and MSME (RAM) loans.

 

Deposits rose 18 per cent year-on-year to ₹3.68 trillion, of which current account and savings account deposit growth was 10.85 per cent.

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This PSU Bank Becomes First Public Sector Bank to Receive ISO 31000:2018 Certification

Indian Overseas Bank (IOB) has achieved a major milestone by becoming the first Public Sector Bank in India to be certified with ISO 31000:2018 – Risk Management Guidelines.

ISO 31000:2018 is an international standard that provides guidelines for effective risk management. It is issued by the International Organization for Standardization (ISO) and helps organizations identify, assess, and control risks in a structured way.

The standard offers a framework and set of principles to improve decision-making, strengthen internal controls, and reduce potential losses.

In the banking sector, following ISO 31000:2018 means the bank has strong systems to manage financial, operational, and compliance risks. It reflects the organization’s commitment to global best practices, transparency, and long-term stability.

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Indian Overseas Bank(IOB) Q3 Net profit jumps 56% YoY

Indian Overseas Bank (IOB) reported its financial results for the quarter ending on December 31, 2025, on Wednesday, January 14. The IOB share price was trading nearly 2% up to ₹36.02 apiece after the company released third quarter results.

The bank posted a 56% year-on-year (YoY) rise in its net profit to ₹1,365 crore in the December quarter FY26, from ₹873.6 crore in the same quarter previous year.

Operating performance also rose 14.87% YoY to ₹2,603 crore in Q3FY26 from ₹2,266 crore in Q3FY25. On a cumulative basis, operating profit for the nine months reached ₹7,361 crore, reflecting a healthy increase of 21.27%.

IOB's Net Interest Income (NII) recorded solid growth, increasing 18.29% YoY to ₹3,299 crore in Q3FY26, compared with ₹2,789 crore in the year-ago quarter. For the nine-month period, NII stood at ₹9,104 crore, up 17.20% year-on-year, supported by improved margins and balance sheet growth.

Domestic net interest margin (NIM) rose to 3.42% in Q3FY26 from 3.35% in Q2FY26, while return on assets (ROA) improved to 1.28% from 0.93% in Q3FY25. The cost-to-income ratio stood at 45.74% in Q3FY26, reflecting disciplined cost management.

Asset quality improved during the period, with the gross NPA ratio declining by 101 basis points YoY to 1.54%. The net NPA ratio also strengthened, falling by 18 basis points YoY to 0.24%.

The Bank’s total business rose by ₹1.01 lakh crore to ₹6.44 lakh crore as of December 2025, reflecting a strong year-on-year growth of 18.71%.

During the same period, CASA deposits recorded a healthy 7.8% YoY increase, reaching ₹1.43 lakh crore by December 2025.

Strengthening its pan-India footprint, the Bank added 116 new branches over the past year, between December 2024 and December 2025, taking its total branch network from 3,322 to 3,438 as of December 2025.

Of these 3,438 domestic branches, a significant 2,000—around 58%—are located in rural and semi-urban areas, underscoring the Bank’s focus on expanding access and deepening its reach beyond urban centres.

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Indian Overseas Bank(IOB)'s Record Q2 Profit surges 61%

 

Indian Overseas Bank (IOB), based in Chennai, reported a 61% year-over-year increase in net profit for the second quarter of the current fiscal year, reaching an all-time high of ₹1,258.82 crore, up from ₹779.61 crore in the July–September quarter of FY25. This increase was primarily due to improved asset quality and higher interest income. 

 For the quarter that ended in September 2025, the bank's overall operating income increased by 15% to ₹7,850.89 crore, up from ₹6,853.94 crore during the same time the previous year. Interest revenue, which is fueled by lending, is the source of net profit. IOB's managing director and CEO, Ajay Kumar Srivastava, stated that the company's net profit improved as a result of an increase in credit and interest income.

In Q2FY26, the bank's core revenue, or net interest income (NII), increased by 21% to ₹3,059 crore from ₹2,538 crore in the previous year. As of September 2025, the gross non-performing assets (GNPA) ratio was 1.83 percent, up 89 basis points from 2.72 percent the previous year. 

 Compared to the same quarter last year, when it was 0.47 percent, the net NPA ratio dropped 19 basis points to 0.28 percent. During the quarter, the slippage ratio was 0.11 percent and the credit cost was 0.18 percent, while the provision coverage ratio increased 42 basis points from 97.06 percent to 97.48 percent.

"This year, we aim to grow our business to a size of about ₹6 trillion, so making ₹1,000 crore in net profit is no longer a problem. We are onboarding additional clients in order to resolve CASA concerns. 

 We have onboarded 8.5 million users in the past two fiscal years and this half-year combined," Srivastava stated. CASA deposits rose 4% year over year to ₹1.37 trillion in Q2FY26 from ₹1.32 trillion the previous year, a gain of ₹5,531 crore. During the quarter, the CASA ratio was 40.52 percent.

From ₹851 crore in Q1FY26 to ₹874 crore for the quarter that ended in September, the total recovery climbed. The amount recovered from the written-off accounts was ₹461 crore. 

 As of September 2025, the bank's overall revenue increased by ₹76,233 crore to ₹6,17,034 crore, a 14% increase from ₹5,40,801 crore the previous year. Total deposits rose 9.15 percent year over year, from ₹28,414 crore to ₹3,39,066 crore from ₹3,10,652 crore in Q2FY25. As of September 2025, gross advances increased by 20.78 percent to ₹2,77,968 crore, up from ₹2,30,149 crore during the same period the previous year.

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