INDIAN OVERSEAS BANK (BOM: 532388) Shares
ABOUT INDIAN OVERSEAS BANK
Indian Overseas Bank (BOM: 532388) is a leading public sector bank headquartered in Chennai, India. The bank boasts a long history and was founded in February 1937. The bank was established by to attract overseas banking and foreign exchange operations to the country. It began operations with three branches – in Karaikudi, Madras and Rangoon (Yangon). Branches in Penang, Kuala Lumpur and Singapore soon followed.
At first, the bank served the Nattukottai Chettiars (a mercantile class), specializing in foreign exchange and overseas banking. It was one of the 14 leading banks in India that was nationalized in 1969. At the time, the bank operated 195 branches in the country with aggregate deposits of ₹ 67.70 crores and advances of ₹ 44.90 crores. Today, the bank operates internationally – in Singapore, Hong Kong, Thailand, Sri Lanka and South Korea. It operates more than 3,400 branches in India alone.
Indian Overseas Bank also has a number of subsidiaries. These include Indian Overseas Bank, Hong Kong Branch; Indian Overseas Bank, Asset Management Arm and Indian Overseas Bank, Singapore Branch, amongst others.
Today, the bank employs approximately 28 000 people across its operations.
OVERVIEW OF INDIAN OVERSEAS BANK
Indian Overseas Bank (also called The Bank) conducts its banking operations through four primary segments: Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations.
- Its services portfolio include domestic deposits and advances; investments; foreign exchange operations, and retail banking (Arogya Mahila saving bank accounts).
- Its Mid Corporate department provides an agricultural credit portfolio that includes loans and microfinance to farmers.
- The bank’s personal banking services portfolio comprises saving bank, current account, retail loans, term deposits, mortgages and depository services. It further provides Internet and mobile banking services to its clientele.
VISION & VALUES OF INDIAN OVERSEAS BANK
Indian Overseas Bank’s mission is to enable its global clientele to manage their finances in a way that adds value to their lives and enable them to realize their financial goals.
- The bank strives to be a leader in its industry by implementing sound business practices and financial discipline. Its operational expertise fosters trust among all its stakeholders.
- The bank makes financial excellence achievable, and adheres to core values such as integrity, respect and collaboration. Shareholders who purchase shares can do so in the knowledge that their investments will yield positive results.
MARKET PERFORMANCE OF INDIAN OVERSEAS BANK
Indian Overseas Bank’s shares are listed on the Bombay Stock Exchange (BSE) in the Finance section. The bank trades under the stock symbol BOM: 532388. It is listed in the Business Sector: Banks. It is also listed on the National Stock Exchange of India (NSE) under the IOB code.
- For the financial year that ended March 2019, the bank reported total income of ₹ 21,837.59 crores, operating profit of ₹ 2,185.27 crores and EBITDA of ₹ 6,391.59 crores. Its reserves and surplus amounted to ₹ 7 218.23 crores.
- These figures inspire confidence, as shareholders who buy and sell bank shares, can expect solid returns and dividends on their investments.
LATEST NEWS INDIAN OVERSEAS BANK
Buy INDIAN OVERSEAS BANK stocks / shares – A Step by Step Guide how to Buy / Purchase INDIAN OVERSEAS BANK Stocks or Shares online.
Before buying any stock or share one has to consider a few factors.
STEP 1: PROPER RESEARCH IS ESSENTIAL
Upon deciding you want to buy INDIAN OVERSEAS BANK Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.
Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.
STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN INDIAN OVERSEAS BANK STOCKS / SHARES
It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a US Dollar 5 stock, multiply 100 by US Dollar 5 to get US Dollar 500.
STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE
Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.
STEP 4: OPEN A BROKERAGE ACCOUNT
A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.
STEP 5: COMMIT AND PURCHASE INDIAN OVERSEAS BANK STOCKS / SHARES
Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out. Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of INDIAN OVERSEAS BANK stocks / shares.
5 Questions to ask yourself before purchasing any stocks or shares.
- Is it the best time to buy this stock / share?
- Should I buy INDIAN OVERSEAS BANK stocks / shares in the current economic climate?
- Can I afford to buy this stock / share?
- What is the forecast of the stock / share growth?
- What is the current price per earning ration on the stock / share?