Indian Overseas Bank
Set up in 1906, Canara Bank is one of the larger PSBs. It made its initial public offering in 2002. As on September 30, 2023, government ownership in the bank stood at 62.93%. Amalgamation of Syndicate Bank into Canara Bank was effective from April 1...
Key Metrics
EPS
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Current ratio
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Debt/Equity
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Debt/EBITDA
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Interest coverage ratio
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Operating Cashflow to total debt
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Financials
Pros & Cons
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Here's what we like about this company and potential risks we have identified.
Pros
Strong support from the majority owner, GoI
Significant improvement in overall market position over the medium term
Sustained improvement in profitability, with ROA over 1.0% on steady-state basis
Liquidity: : Strong
Cons
Moderate asset quality and earnings profile, albeit improving
Material change in shareholding or expectation of support from the government
Decline in CAR below minimum regulatory requirements (including CCB, which is Tier I of 9.5% and overall, CAR of 11.5%)
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About Indian Overseas Bank bond.
This comprehensive profile covers key factual information about Indian Overseas Bank. Set up in 1906, Canara Bank is one of the larger PSBs. It made its initial public offering in 2002. As on September 30, 2023, government ownership in the bank stood at 62.93%. Amalgamation of Syndicate Bank into Canara Bank was effective from April 1, 2020. The merged entity enjoys the benefits of a larger balance sheet, optimised capital utilisation, and wider geographic reach leading to deeper penetration. Domestic network comprises 9,518 branches and 10,553 ATMs. Additionally, it has international presence via three overseas branches (New York, London and Dubai). Besides banking, it undertakes factoring, asset management, insurance and retail and institutional broking services through its subsidiaries and associates. EPS in Mar-2024 was 1.41. Current ratio in Mar-2024 was 0.07. Debt/Equity in Mar-2024 was 11.77. Debt/EBITDA in Mar-2024 was 86.28. Interest coverage ratio in Mar-2024 was . Operating Cashflow to total debt in Mar-2024 was -0.00. Total revenue for Mar-2025 (E) was ₹30264.59. Net income for Mar-2025 (E) stood at ₹3338.38. Total assets as of Mar-2024 were ₹351869.33. Operating cash flow for Mar-2024 was ₹-1,118.95. Peers and comparison entities consist of Indian Overseas Bank, State Bank of India, Bank of Baroda Limited, Punjab National Bank. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Strong support from the majority owner, GoI; Significant improvement in overall market position over the medium term; Sustained improvement in profitability, with ROA over 1.0% on steady-state basis; Liquidity: : Strong. Key risks include: Moderate asset quality and earnings profile, albeit improving; Material change in shareholding or expectation of support from the government; Decline in CAR below minimum regulatory requirements (including CCB, which is Tier I of 9.5% and overall, CAR of 11.5%). Leadership team details include Ajay Kumar Srivastava ( The Managing Director and CEO of IOB since January 2023. He is also a Director of the company.), Srinivasan Sridhar (The Non-Executive Chairman of IOB. He is also a Nominee Director of the RBI.), Koustav Majumder (The General Manager and Chief Risk Officer of IOB since 2023. He was previously the Deputy General Manager.), S P Mahesh Kumar (The CFO and General Manager of IOB.), Joydeep Dutta Roy (An Executive Director of IOB.), T Dhanaraj (An Executive Director of IOB.), Sanjaya Rastogi (A Shareholder Director of IOB.), Sonali Sen Gupta (A Nominee Director of IOB.), Kartikeya Misra (A Government Nominee Director of IOB.), B Chandra Reddy (A Part Time Non Official Director of IOB.), Deepak Sharma (A Part Time Non Official Director of IOB.), Suresh Kumar Rungta (A Part Time Non Official Director of IOB.). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.