Full Form of IOB:
Indian Overseas Bank
IOB Full Form is Indian Overseas Bank. IOB is a renowned, major, and established public sector Indian bank. It is one of those banks that believe in the use of updated technology and start to use the adequate technology at the earliest. This bank was established on 10th February 1937 by Thiru. M. Ct. M. Chidambaram Chettyar who was a Tamil Nadu-based industrialist and banker. Headquartered in Chennai, IOB was initially founded with the purpose to encourage and endorse overseas banking services and operations related to foreign exchange.
IOB has numerous products related to different type of banking, loans, investment vehicles, payment card services etc. Starting its journey with a limited capacity, IOB now has successfully opened about 3700 branches across India. Most of its branches (about 1150 branches) are located within Tamil Nadu. It also has opened about 3300 domestic ATM counters. IOB is the pioneer of online banking in India.
In 2000, IOB became the first Indian public sector bank to launch mobile banking services through Wireless Application Protocol.It concentrates on the use of new technologies. That’s why IOB has its own technology department which is related to in-house information and this department is certified by ISO. IOB offers its services in many foreign countries like Srilanka, China, Malaysia etc. It also has participated in various tie-ups and joint ventures to improve the quality and scope of its services.