Indian Overseas Bank to focus on MSME-lending: CEO

Indian Overseas Bank to focus on MSME-lending: CEO

Laying more focus on the MSME segment, Indian Overseas Bank (IOB) will increase its lending to the sector from ₹31,000 crore at present to ₹50,000 crore in a couple of years from now, said a top official of the bank on Friday. To focus on MSMEs, the bank has converted 250 branches, including 100 in Tamil Nadu, into MSME-centric branches, and has given training to 700 employees for the purpose, said IOB Managing Director and CEO Karnam Sekar.

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