Indian Overseas Bank (IOB) is proud to be honoured with Consumer First Resolution Award 2026 organized by TransUnion CIBIL in Chennai on 28.07.2026 for redressal of customer grievances in consumer disputes category.
The bank has secured the spot by achieving an unprecedented 100% grievance resolution rate well within the timeline stipulated by RBI.
MoF, GOI has also appreciated the excellent work done by the Bank in effective grievance redressal on the grievances received through Centralized Public Grievance Redress and Monitoring System (CPGRAMS) Portal.
The Bank has been ranked First amongst Public Sector Banks (PSB) category for the month of April 2026 and June 2026 based on Grievances Redressal Assessment and Index score.
Receiving Customer First Resolution Award 2026 from TransUnion CIBIL and appreciation in the category of First amongst Public Sector Banks (PSB) by MoF, GOI for the month of April 2026 and June 2026 based on Grievances Redressal Assessment and Index score shows our commitment to address the issues being faced by our valued customers and deliver superior customer service standards.
These awards recognize the bank’s commitment to customer centric, service excellence and effective resolution of customer grievances well within timeline stipulated by RBI.
Indian Overseas Bank has also reported a record net profit of ₹1,659 crore for the quarter ended 30 June 2026, registering a 49.32% YoY growth, by strong growth in interest income and business expansion.
The Bank‘s asset quality improved further, with Gross NPA reducing to 1.33% and Net NPA to 0.18%, while advances and deposits grew by 22.75% and 13.72% on YoY growth respectively, showing best overall performance in the history of the bank.