What Is the Full Form of IOB?
The IOB full form is Indian Overseas Bank. IOB was founded as a public sector bank specializing in international exchange and international banking in 1937. It is headquartered in Chennai, India. It provides finance, financial services, retail banking, and other banking-related segments.
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IOB was the first bank to develop a personal loan scheme and grow into consumer lending. IOB was one of fourteen major financial institutions owned by the Indian government during the period of nationalisation.
Tie-Ups of IOB
IOB, along with Karnataka Bank, Allahabad Bank, and Dabur Investments, acquired a 19% equity position in USGI (Universal Sompo General Insurance) Company Limited’s non-life insurance business.
IOB and Apollo Munich Health Insurance have partnered to provide its clients with superior medical and personal injury services.
