IOB looks at profit in Q4 FY19, NCLT recoveries to help improve profile

Indian Overseas Bank is currently under the Reserve Bank of India's Prompt Corrective Action framework

Public-sector lender Indian Overseas Bank (IOB) expects to report a cost-effective net profit during the last quarter of 2018-19, as against a loss of Rs 36.06 billion during the quarter ended March 2018. 

The bank reported an operating profit of Rs 36.28 billion in 2017-18. The net loss rose to Rs 62.99 billion in 2017-18 from Rs 34.16 billion in 2016-17 due to increase in provision by Rs 29.37 billion. 

The IOB's management is confident that it will be able to sustain the profitability because of the actions (especially on recoveries from bad loans) taken in the last two years,