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IOB to recruit 4,100 candidates this year

Source : BUSINESS_STANDARD
Last Updated: Sun, Oct 20, 2013 20:57 hrs
A cashier counts currency notes as customers wait inside a bank in Hyderabad

Chennai-based Indian Overseas Bank (IOB) has recruited around 11,000 candidates in last three years. It is expected to recruit around 4,100 this year, said M Narendra, chairman and managing director, IOB.

Addressing the employees in the 34th general council meeting of All-India Overseas Bank Employees Union, he said, "We have been conducting recruitment in the past years to strengthen our machinery. Our total staff strength has grown from around 21,000 to over 31,000 now".



The bank aims at bringing down the average age of employees to 35 years from the current 43. It is also keen on providing employment to women. Almost 36 per cent of the total employees constitutes women, he added.It has added 1,000 branches in the country. IOB would be looking at increasing its market share from the current 2.75-2.8% to 3.5 % in future. "By achieving this, we will see a faster growth," said Narendra.

It is also working towards being among the top five nationalised banks in terms of business volumes from the top seven position, he added.

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