Iob Results

IOB Q3 profit jumps 30% to Rs 723 cr on improvement in core income

State-owned Indian Overseas Bank (IOB) on Wednesday reported 30 per cent rise in net profit at Rs 723 crore for December quarter 2023-24, on the back of improvement in core income and reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a year ago. Operating profit of the bank improved to Rs 1,780 crore as against Rs 1,540 crore in December 2022. Total income increased to Rs 7,437 crore during the quarter under review from Rs 6,006 crore in the same period last year, IOB said in a regulatory filing. Interest income also rose to Rs 6,176 crore over Rs 5,056 crore for the quarter ended December 2022. During the quarter, the bank had done total cash recovery of Rs 327 crore as against Rs 460 crore in the third quarter of the previous fiscal. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 3.90 per cent of gross loans by the end of December 2023 from 8.19 per cent a year ago. Similarly, net

IOB Q3 net profit up 23%, helped by interest income and credit growth

Slippages at Rs 1,556 crore, out of which Rs 200 crore was in education sector

IOB Q2 loss widens to Rs 2,250 crore from Rs 712 crore a year ago

Total income down 6% to Rs 5,024 crore; bad loans shrink

IOB's June quarter loss narrows to Rs 342 cr, from Rs 919 cr last year

Lender's NPA ratios improve, recoveries surpass slippages during the quarter

Efforts to revive bank yielding results: IOB chief

Indian Overseas Bank (IOB) has said that around 46 per cent reduction in the net loss during the second half of the current fiscal is an indication that the actions taken by the Bank is giving results.Net loss for the year ended March 31, 2017 is Rs 3,417 crore as against Rs 2897 crore for the year ended March 31, 2016 with net loss decreasing by 46 per cent in second half of Fiscal 17 over first half of fiscal 2017 is indicative of the significant actions being taken to transform the Bank, said R Subramaniakumar, MD & CEO, Indian Overseas Bank.IOB, which has been in the Regulator's radar for high NPA, said as at March 31, 2017 Gross NPA is at Rs 35,098 crore with ratio of 22.39 per cent as against Rs 30,049 crore as on March 31, 2016 with ratio of 17.40 per cent. One of the reasons for higher Gross NPA ratio is the contraction of credit by 9.23 per cent y-o-y.Recovery in NPA accounts for the year ended March 31, 2017 was higher at Rs 8,710 crore as against Rs 5,872 crore in ..