IOB sees 20 % loan growth in FY10

Mumbai: Indian Overseas Bank expects loan growth of 20 per cent in the current fiscal, a top official said on Wednesday. We have seen a good growth in almost all the sectors but I am afraid of loans given to textile sector and to IT parks, Chairman and Managing Director SA Bhat told reporters on the sidelines of a banking conference.

The bank is also looking at an income of 600 million rupees from selling of bank assurance products in the current financial year as compared to 250 million rupees a year earlier.