IOB inches up on plan to restructure SME and Corporate loans

07 Dec 2011 Evaluate

Indian Overseas Bank (IOB) is currently trading at Rs 92.50, up by 0.15 points or 0.16% from its previous closing of Rs 92.35 on the BSE.

The scrip opened at Rs 92.60 and has touched a high and low of Rs 93.20 and Rs 91.90 respectively. So far 29478 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 164.20 on 02-May-2011 and a 52 week low of Rs 86.30 on 04-Oct-2011.

Last one week high and low of the scrip stood at Rs 96.20 and Rs 91.25 respectively. The current market cap of the company is Rs. 5714.15 crore.

The promoters holding in the company stood at 65.87 % while Institutions and Non-Institutions held 18.24 % and 15.89 % respectively.  

 IOB is planning to restructure its SME and Corporate loans by extending the tenure of repayment, in order to address the issue of its customers. The state-run bank is getting applications from its customers regarding restructuring of loans. The bank has helped them by offering longer repayment schedules and is thinking to further facilitate them.

Importers have been impacted by the dollar appreciation. Also the corporate who have raised money under foreign currency convertible bond (FCCB) route are under pressure and they are finding it difficult to repay.

As on September 2011, the bank's NPA has touched to Rs 3,898 crore whereas it was around Rs 3,200 crore as on March 31, 2011. This was due to the increase is the real estate sector, which is facing slowdown, delay in projects and bad recovery from agriculture sector.

Indian Overseas Bank Share Price

52.44 -0.78 (-1.47%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
SBI 812.50
Bank Of Baroda 240.30
Canara Bank 99.65
PNB 100.70
Union Bank Of India 116.60
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