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Indian Overseas Bank reports around 3-fold jump in Q1 net profit
Aug-03-2021

Indian Overseas Bank has reported results for first quarter ended June 30, 2021.

The bank has reported around 3-fold jump in its net profit at Rs 326.64 crore for the quarter under review as compared to Rs 120.69 crore for the same quarter in the previous year. However, total income of the bank decreased by 1.50% at Rs 5,155.03 crore for Q1FY22 as compared Rs 5233.63 crore for the corresponding quarter previous year.

The bank’s gross Non Performing Asset (NPA) for the April-June quarter of the current fiscal improved to 11.48%, as compared to 13.90% in the same quarter of the previous year. Besides, bank’s net NPA stood at 3.05% in Q1FY22.

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