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Tamil Nadu
Bank branch opened
Special Correspondent
TIRUVANNAMALAI: Field General Manager of Indian Overseas Bank, Puducherry Region, S. Dhinakar declared open the IOB branch in Thiruvethipuram (Cheyyar) in Tiruvannamalai district on Wednesday.
Mr. Dhinakar said that this was the 57th branch of IOB in the Puducherry region. The bank has 1,829 branches with 436 automated teller machines (ATMs). A total of 1,059 branches have been brought under core banking with the business mix crossing Rs.1,35,000 crore as on March 31, 2007. The bank made a net profit of Rs.1,008 crores during the year that ended in March 2007, with gross non-performing assets (NPA) of 2.34 per cent and net NPA of 0.55 per cent.
Mr. Dhinakar said that the bank’s Puducherry region has disbursed Rs.150 crore to the agriculture sector under the Special Agricultural Credit Plan during the calendar year 2007. A total of 800 self-help groups were linked during the year. The region’s priority advances touched 70 per cent. The bank is actively participating in government-sponsored schemes and maintaining good rapport with the district administration towards meeting the credit needs of a cross-section of society.
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