> ## Content Index > Fetch the complete content index at: https://www.moatmarginresearch.com/llms.txt > Use this file to discover other available public pages before exploring further. # Indian Overseas Bank Moat Analysis: Score & Risks - URL: https://www.moatmarginresearch.com/indian-overseas-bank-moat/ - Published: 2026-08-02T13:14:26.000Z - Updated: 2026-08-22T05:14:22.000Z - Author: A K Karthikeyan - Tags: First-pass note, Coverage Moat Note · First-pass ## Indian Overseas Bank A first-pass moat teardown of Indian Overseas Bank, built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it. **Moat & Margin**2 Aug 2026 First-pass · \~4 min 4.47 / 10 NARROWRegulated-scale First-pass narrow read — primary edge in Switching Costs. Provisional, single-pass evidence. Provisional score · subject to modification based on new evidence Indian Overseas Bank scores **4.47** on MoatSCORE 6.0 — a narrow moat in Banks. This is a **first-pass note**: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued. The teardown ## Seven dimensions of moat Ordered by contribution. Each dimension carries a verified filing quote, graded **\[M\]** mechanism or **\[O\]** outcome. D2Switching Costs5.5 O · Outcome✓ Verified verbatim “NBFC - Others 3,623 24.3% 5,053 32.3% 9,053 63.4%” **Indian Overseas Bank** · Investor Presentation · p.11 1 quote extracted here — not one mechanism-class. The evidence is outcome-only. D5Intangible Assets5.3 M · Mechanism✓ Verified verbatim “reflecting the continued success of our prudent underwriting standards, robust monitoring framework” **Indian Overseas Bank** · FY25 Annual Report · p.334 D1Network Effects5 O · Outcome✓ Verified verbatim “Out of these 3497 ATMs & CRs, 2686 are managed by Branches of the Bank while 811 are managed by ATM managed services vendors.” **Indian Overseas Bank** · FY24 Annual Report · p.422 7 quotes extracted here — not one mechanism-class. The evidence is outcome-only. D3Cost Advantage5 M · Mechanism✓ Verified verbatim “CASA and Retail Term Deposits together contributed 94% of total deposits, reflecting the strength, granularity and stability of the Bank's retail deposit franchise.” **Indian Overseas Bank** · FY25 Annual Report · p.334 D4Price Discretion5 M · Mechanism✓ Verified verbatim “IOB has put in place a diversified deposits strategy which should help it meet this challenge in a holistic manner while also keeping the growth levers going” **Indian Overseas Bank** · FY24 Annual Report · p.36 D6Efficient Scale4.5 No narrative receipt surfaced — this dimension is scored on the quantitative record. D7Counter-PositioningExcluded— Excluded for this archetype. D8Ungoverned RiskUnscored · Layer 2.5 D8 rating: **ADEQUATE**. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed. The barrier gate ## The barrier gate — first-pass Replication — can a rival copy it?5.5 How hard it is for a rival to copy the edge (first-pass estimate). Bypass — can a rival route around it?5.5 How easily a rival can route around the edge (first-pass estimate). Effective barrier 5.5 — below 6, so the band is capped narrow. First-pass estimate. What would change our mind 1. **Deep two-pass review.** This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read. 2. **The barrier gate.** A firmer replication or bypass estimate is the most likely thing to shift the band. 3. **Adverse events.** Any governance, regulatory or funding shock captured in D8 could re-rate the fade window. First-pass note — provisional single-pass MoatSCORE 6.0 read, not the full deep dive. Educational research, not investment advice; no buy/sell recommendation, no price target. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser. **Where this note fits.** This company is one of **113 Indian companies** we have scored for moat durability — 88 narrow, 25 narrow-trending-wide, none wide. The full ranked read: [Wide-Moat Stocks in India: We Scored 113 Companies and Found None](https://www.moatmarginresearch.com/wide-moat-stocks-india/). Every score, dimension by dimension, is free in the [Moat Screener](https://www.moatmarginresearch.com/moat-screener/).