Indian Overseas Bank (IOB) has been under Prompt Corrective Action (PCA) for almost four years from 2015, since when it has been suffering losses. The bank is trying to return to profit and come out of PCA.
Karnam Sekar, who took over as managing director and chief executive officer of the bank on July 1, is taking measures and, in an interaction, talks to Gireesh Babu about the bank’s expectations. Edited excerpts: What are your plans to come out of PCA? When do you expect that? For the past five years we have been making losses due to huge non-performing assets (NPAs), ...
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