In a bid to mobilise low-cost deposits, Indian Overseas Bank (IOB) today said it will launch 'Walk-in Bank' campaign tomorrow.
The bank has embarked on a major drive to expand its customer base. As part of this effort, the bank has launched a one day door-to-door campaign, called 'Walk-in Bank' on December 5, IOB said in a statement.
IOB's current account and savings account (CASA) was 33 per cent of the aggregate deposits at the end of September 2010.
CASA is a major source of earning for a bank. Higher the CASA ratio, better the interest margin.
At present, Chennai-based state-owned bank has about 1 crore customers. On Dec 5, the bank's entire staff of more than 26,000, will be actively campaigning to enlist new clients across the country, it said.
The campaign, it said, would include visits to individual households to publicise its products and services, in order to project bank’s customer-friendly image.
For the second quarter ended September 2010, IOB reported a jump of 17.09 per cent in its net profit at Rs 206.14 crore. The bank had posted a net profit of Rs 176.04 crore in July- -September quarter last year.
Total income of IOB was Rs 3,074.73 crore in the September quarter this year against Rs 2,922.33 crore in the year-ago period.
