Indian Overseas Bank Dispels ATM Closure Rumors
Indian Overseas Bank has confirmed all its ATM networks remain operational, dismissing rumors of closures due to geopolitical tensions. The bank urges customers to seek information through verified channels. Recently, it reported a significant rise in net profit for Q1 2025, driven by reduced bad loans.
- Country:
- India
Public sector Indian Overseas Bank assured customers on Friday that its ATM networks are functioning normally, countering rumors of impending closures. The bank labeled these claims as ''false'' and ''unfounded.''
Customers are encouraged to use ATM services as usual and seek updates only from official channels, the Chennai-based bank said in a statement.
The announcement follows social media reports suggesting potential ATM shutdowns amidst rising tensions between India and Pakistan. As of March 31, 2025, the bank operates approximately 3,497 ATMs and 3,335 branches nationwide.
Indian Overseas Bank recently announced a 30 percent rise in net profit for the first quarter of 2025, attributed to a decrease in bad loans and an increase in interest income. The net profit climbed to Rs 1,051 crore, up from Rs 808 crore in the same period last year.
(With inputs from agencies.)
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