Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Indian Overseas Bank ( (IN:IOB) ) has shared an announcement.
Indian Overseas Bank has received USD 25.72 million as an interim capital repatriation from the liquidator of India International Bank (Malaysia) Bhd, a joint venture in which it held a 35% stake alongside Bank of Baroda and Union Bank of India. The inflow, arising from the member’s voluntary liquidation of the Malaysian joint venture, strengthens Indian Overseas Bank’s capital position and underscores the final unwinding of its investment in this overseas subsidiary, with potential implications for its international portfolio strategy and balance-sheet deployment.
More about Indian Overseas Bank
Indian Overseas Bank is a public sector bank based in India that provides a full range of commercial banking services, including deposits, loans and trade finance, to retail and corporate customers. The bank also participates in international banking operations and joint ventures, reflecting its focus on cross-border financial services and overseas markets.
Average Trading Volume: 714,339
Technical Sentiment Signal: Sell
Current Market Cap: 660.9B INR
See more insights into IOB stock on TipRanks’ Stock Analysis page.