<P> IOB opened an extension counter at New Kathiresan Temple complex, Bambalapitiya, Ceylon, on 29 August 2003 . </P> <P> In 2005 IOB opened a representative office in Guangzhou, China . The next year IOB opened another representative office, this time in Kuala Lumpur . In 2009 IOB opened a Representative office in Dubai, United Arab Emirates . </P> <P> In the new millennium, international expansion picked up once again . In 2007, IOB took over Bharat Overseas Bank . Then in 2009 IOB acquired Pune - based Shree Suvarna Sahakari Bank, which had been established in 1969; the bank had nine branches in Pune, two in Mumbai, and one in Shripur . </P> <P> In 2010 Malaysia awarded a commercial banking license to a locally incorporated bank to be jointly owned by Bank of Baroda, Indian Overseas Bank and Andhra Bank . The new bank, India International Bank (Malaysia), commenced operations in 2012 in Kuala Lumpur, which has a large population of Indians . Andhra Bank holds a 25% stake in the joint - venture, Bank of Baroda owns 40%, and IOB the remaining 35% . </P>

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