Indian Overseas Bank Q1 net loss narrows to Rs 499 cr

Total income has declined 11.8% during the quarter to Rs 5,174.50 cr

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Gireesh Babu Chennai

Last Updated : Aug 10 2017 | 7:53 PM IST

Net loss of Indian Overseas Bank for the quarter ended June 30, 2017, has narrowed to Rs 499.09 crore as compared to Rs 1,450.50 crore during the same quarter of last year.

Total income has declined 11.8 per cent during the quarter to Rs 5,174.50 crore during the quarter as against Rs 5,868.44 crore during the corresponding quarter of previous fiscal, on account of reduction in interest rates, said the Bank.

The gross Non-Performing Asset (NPA) during the quarter was at Rs 35,453.12 crore, with a ratio of 23.6 per cent as compared to Rs 33,913.15 crore with 20.48 per

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