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Tuesday, July 31, 2012

IOB net up 13.5% in June quarter

Indian Overseas Bank has registered a 13.5 per cent growth in net profit at Rs 233.43 crore for the quarter ended June 30, 2012, against Rs 205.58 crore in the corresponding year-ago quarter.

The total income for the quarter stands at Rs 5,403 crore against Rs 4,332 crore registered during the same period in 2011.

The total business grew 23.28 per cent to Rs 3,33,248 crore from Rs 2,70,320 crore in the previous year. Total deposits were at Rs 1,84,882 crore (Rs 1,51,173 crore), and the net interest income went up by 12 per cent to Rs 1,328 crore in the quarter (Rs 1,187.63 crore).

Announcing the results, Mr M. Narendra, Chairman and Managing Director of the bank, said the net NPA is at Rs 2,152.09 crore (1.48 per cent) as against Rs 1,258.16 crore (1.08 per cent).

Gross NPA for the period stood at Rs 4,409.70 crore (2.97 per cent) as against Rs 3,291.64 crore (2.76 per cent) last year.


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