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New schemes from IOB

KOCHI: The Indian Overseas Bank has launched two new schemes for savings and current account customers. These are the Gold and Silver Savings Accounts and Classic and Super Current Accounts.

According to G. Chandran, general manager of the bank, international debit cards without charges, SMS alerts for daily transactions, monthly account statement through e-mail, personalised accident insurance and online tax payment facility are among the new privileges for SB account holders. Internet banking, utility bill payment facility, online trading facility and issue of DD at concessional rates are some of the facilities offered for the current account holders.

Mr. Chandran said the bank has a total business of Rs.1,45,383 crore as on March 31, 2008. The bank recorded 22.6 per cent growth in deposits in 2007-08 to reach Rs.84,325 crore whereas the advances grew by 27.4 per cent to reach Rs.61.058 crore during the year.

The bank has recorded operating profit of Rs.2,001 crore and net profit of Rs.1,202 crore in 2007-08. The net NPA as on March 31, 2008 was 0.6 per cent.

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