Mangalore, September 10: Indian Overseas Bank, which is in the midst of the Platinum Jubilee celebrations, has crossed business level of Rs 2,59,000 crore recording an increase of 35.2 per cent growth as on March 31, 2011, said M Narendra, Chairman-cum-Managing Director, IOB.
He was speaking with media persons at 'Meet the Press' programme organized by DK District Working Journalists' Association at press club here on Saturday.
He said Bank has deposits of Rs 7,037 crore, advances of Rs 4,066 crore with a total business exceeding Rs 11,103 crore.
The Chairman said that it was the endeavour of the bank to set up 55% of its branches at unbanked and underbanked areas.
The IOB Bhoomi Lakshmi was intended to give assistance to the small farmers to buy land and IOB Sagar Lakshmi to extend working capital to fisherwomen, he said.
He said the number of Automated Teller Machines would be raised from 1,210 to 3,000 at the shortest possible period.
IOB has 25 branches functioning under Mangalore Regional Office and four more branches were added. IOB is also planning to open 11 branches in and around Mangalore, he revealed.
Mr Narendra said under financial inclusion, Mangalore Region has covered 7 villages.
P B Harish Rai, President of DKWJA, Srinivas Nayak Indaje, Secretary were present.
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