Indian Overseas Bank (IOB), headquartered in Chennai, reported a 43.2% year-on-year increase in net profit, reaching ₹1,505 crore for the fourth quarter of FY26. The bank's credit growth stood at 24%, significantly higher than the industry average of around 16%. Ajay Kumar Srivastava, MD & CEO of IOB, attributed this growth to contributions from its 3,500 branches, with a focus on retail, agriculture, and micro, small, and medium enterprises (MSMEs). For FY27, IOB aims for 12-13% credit growth and 13-14% deposit growth, maintaining a conservative outlook based on previous performance. The bank has also taken proactive steps regarding expected credit loss (ECL) provisions, front-loading ₹1,750 crore to cushion its balance sheet ahead of new regulatory requirements. Additionally, IOB is enhancing its IT and vendor risk management processes to ensure robust operational support.