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Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
08 July, 2025 18:00 IST
Indian Overseas Bank update on Hong Kong Branch
Source: IRIS | 13 Jun, 2018, 10.37AM
Rating: NAN / 5 stars.
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Indian Overseas Bank (IOB) announced that in view of the capital position of the Bank as at 31 March 2018 being below the requirement (including countercyclical buffer) of the Reserve Bank of India, Hong Kong Monetary Authority (HKMA) is enhancing the supervisory arrangements on the bank's Hong Kong Branch (IOBHK).

Accordingly, IOBHK is required:

(i) to maintain high quality liquid assets (HQLA) in Hong Kong equivalent to 100% of unpledged deposits.

(ii) Not to proactively solicit customer deposits while transactional deposits such as pledged deposits for commercial loans can be accepted in normal course.

(iii)To maintain a position of "net due to" its head office, other branches and any direct or indirect subsidiaries and associates of the bank.

Shares of the bank declined Rs 0.05, or 0.31%, to trade at Rs 16.00. The total volume of shares traded was 12,632 at the BSE (10.23 a.m., Wednesday).



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