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IOB's total income grew by 14%

Mumbai: October 30,2012

 Indian Overseas Bank  's (IOB) total income of second quarter (2012-13) went up by 14.36 percent to Rs.5, 515.02 crore during the quarter under review as compared to Rs.4, 822.56 cr. posted during the corresponding quarter of the previous year , while its total  business also grew  year on year by 17.80%

 

However, the Bank’s net profit fell year on year Rs.158.4 crores as against 207.4 crores for corresponding period in the previous year in the second quarter of financial year 2012-13 due to interest reverted on restructured accounts /slippage accounts and additional provision requirement thereon.

 

Gross NPAs rose by 90 basis points quarter-on-quarter to 3.87 percent while net NPAs increased 77 basis points QoQ to 2.25 percent during the quarter.

Gross NPAs shot up QoQ to Rs 5,929.6 crore as against Rs. 3898 crores for the same period of last year  and net NPAs jumped 57% to Rs 3,378 crore in the July-September quarter

Bank’s total business grew from Rs.290744 cr. of last years to Rs. 342508 cr to 30-09-2012, the recording a growth on year to year basis of 17.80%

 

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