Indian Overseas Bank

Indian Overseas Bank is the first India based bank to commence operations in Singapore as early as February 1941. Indian Overseas Bank in Singapore's operations are focus on Trade Financing and Retail Banking, Credit Services and Indian Rupee Remittances in particular, supporting India's trade with Singapore and other countries in the Asia-Pacific region or addressing the financial needs of the global Indian community.

As a Full Banks in Singapore, Indian Overseas Bank may provide the whole range of commercial banking business approved under the Banking Act. Indian Overseas Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and it is market leaders in remittances to India and providing investment advisory services for NRIs. Indian Overseas Bank branch in Singapore are fully automated with SWIFT facility for inter-bank remittances to India in particular.

Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, Indian Overseas Bank may also carry on any other business which is regulated or authorized by MAS, including financial advisory services, insurance broking and capital market services.

Commercial banks in Singapore are licensed under and governed by the Banking Act. They may undertake universal banking. Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, the banks may also carry on any other business which is regulated or authorised by MAS, including financial advisory services, insurance broking and capital market services.