Indian Overseas Bank: Indian Overseas Bank (IOB) is a public sector bank, whose headquarters is in Chennai. With a focus on foreign exchange business and overseas banking, it has achieved significant milestones in the Indian banking sector. IOB operates through approximately 3,220 domestic branches, 2 Digital Banking Units (DBUs), around 4 foreign branches, and a representative office. During the nationalization period, the government of India took over IOB along with 13 other major banks.
Organization of IOB: Indian Overseas Bank (IOB) functions with a clear organizational hierarchy. The Board of Directors sets the strategic direction, while the Managing Director & CEO supervises the day-to-day operations.. Executive Directors manage specific functions, while regional offices coordinate activities across a widespread domestic branch network. Digital Banking Units focus on online services, while foreign branches and representative offices facilitate international banking. Various departments handle functions such as retail and corporate banking, with support units for IT, legal, and marketing. Compliance and risk management units ensure regulatory adherence and risk mitigation. This streamlined organization allows IOB to effectively navigate the complexities of the banking industry
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