26 Oct 2026 | 5 Mins Read
Indian Overseas Bank to raise $500M after Q2 profit surges by 56%
Flipitmoney
Indian Overseas Bank plans to raise $500 million in external commercial borrowing by December in two $250 million tranches using the RBI's concessional swap facility. The bank's gross advances rose 24.35% year-on-year to Rs 3.46 lakh crore, targeting 20-21% credit growth. Q2 net profit increased 56% to Rs 1,912 crore, with improved asset quality and margins.