Ad Here  
March
April
May
June
July
August
 
 
A niche in FMCG business... Nissan exit shouldn’t affect ALL Titan Company – sales recovery to kick in L&T bags the Mumbai Trans-harbour link order Is this a generation gap? TN government keen on revival of operations at Nokia complex Chinese smart phones flourish in small towns too! Smartphone onslaught by Chinese brands Tata Motors aims to be among the Top 3 global CV & PV firm Aurobindo Pharmacy: good turnaround He excels in the nuts and bolts of entrepreneurship ITC chairman calls for policy impetus to transform agriculture Back in growth mode Eyes strong growth in 2016-17 PSU non-life firms seek to protect share Land wars Record two-wheeler sales Rane targets Rs.5500 crore topline by 2018-19 Michelin to double Chennai capacity Sundram Fasteners rejigs international E.I.D Parry (India) Ltd: another sweet year AL introduces Guru & Partner RoC in the dock... TVS Automobile invests Rs.75 crore in start-up firms PPP model for infrastructure development V-Guard launches app-enabled water heater system Daimler grows sales and share in India Kone India eyes further growth in elevator market Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Hyundai India achieves 7 mn production at Chennai factory Emami – a new growth mantra Yamaha unveils scooter boutique New India Assurance posts impressive show Toyota and Suzuki to introduce EVs in India by 2020 Are they really independent? Right to privacy – now it’s fundamental! When small is not so beautiful… Wabco launches safety system Tata Motors joins compact SUV bandwagon with Nexon It takes two to tango L & T’s floating dock for navy Maruti – for young buyers From the toughest to the best year TVS Srichakra plans capacity expansion LVB posts 31 per cent growth in Q1 net profit Housing demand revival Sivasankaran enters taxi space to take on Uber and Ola L & T set bigger ambitions in defence business Ode to Ratan Tata Increasing market share Mercedes-Benz sales continue to zoom M & M unveils driverless technology for tractors Vellayan is back, after 150 days A welcome initiative-even critics are recognised Consolidating leadership position in smartphones Forging industry worried over lower supply of steel and its price Daimler’s truck exports from Chennai cross 5000 units IOB on turnaround path Tata Motors charts investments in PV and CV businesses Solar installations exceed 2015 capacity in five months Shriram Life clocks more than Rs.1000 crore premium in 2015-16 L&T profit up by 11 per cent Carnival Films acquiring 3000 screens pan India HPCL plans Rs.61,000 crore capex over 5-years TI Cycles plans retail expansion to drive sales for premium bicycles Gamesa to set up a plant in Nellore Welcome focus to improve rural India... Singur minus Nano – victory or folly? Dish TV – subscriber additions encouraging AL secures orders for 3600 buses AL wins Deming prize again Hindalco – re-rating Smooth sailing of SAIL Hyundai to focus on SUVs and AMT variants Last stages ITC – steep excise hike 29 per cent jump in TCS revenues Tata Motors bets on new launches Preparing for the next growth curve Bajaj Finserv – Q1: fare well The gainers and the losers Tata Steel, ThyssenKrupp sign MoU to merge European units CAPITAL NOTES Tata gets 4-star rating for Zest The unexpected exit
 
IOB on turnaround path

Indian Overseas Bank (IOB) is now poised for implementation of its turnaround strategy to achieve sustainable performance improvement.

Stressed assets, additional NPA provisions as a result of regulatory requirements, poor credit growth and capital constraints were among its key challenges faced by the bank.

The bank was brought under prompt corrective action (PCA) programme by RBI from September 2015 after swelling non performing assets (NPAs). 

A comprehensive turnaround plan has been chalked out and the bank says it works.

“The bank is geared for implementation of its multipronged turnaround strategy which with its emphasise on the areas that include technology, NPA management, business growth and human resources,” said R Subramaniakumar, Managing Director & CEO of while addressing the bank’s latest annual general meeting.

There will be a special focus on driving credit growth in the retail and MSME segments in 2017-18 balanced with quality lending in large corporate and mid corporate portfolio, said Kumar.

The bank also undertook rationalisation of branches and administrative offices with a view to reducing the number of loss-incurring branches and reduce expenditure. About 100 unviable branches are likely to be closed and a couple of hundred ATMs are to be repositioned. 

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com