IOB to raise branch count to 3,000 by March 2013

In a bid to expand the branch network, Indian Overseas Bank announced to take the total number of the branches of the bank to 3000 across the country by March 2013.

Recently the bank celebrated the Platinum jubilee year and on the occasion the bank launced 75 new branches and 75 new ATMS.

Currently the bank comprises of 2,020 branches and 1,000 ATMs across the country and the bank plans to take the number of both branches and ATMs in the country to 3,000 by March 2013.

In the ensuing years the bank plans to develop the branch network in the states that belongs to the central part of the country i.e Rajasthan, Madhya Pradesh, Chattisgarh, Jharkhand and Bihar. The Chairman and Managing Director of the bank Mr. M Narendra said “In these States our branch presence is somewhat on the lower side. We would like to have more presence in these States.”