May 28, 2024 10:51 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Bibhav Kumar's bail, if granted, will be a death threat for me and my family: Swati Maliwal to Delhi HC | Now we don't trust Gujarat govt: High Court raps State and local body over Rajkot gaming zone fire incident | Delhi CM Arvind Kejriwal requests Supreme Court to extend his interim relief by 7 days in liquor policy case | Cyclone Remal leaves trail of destruction in West Bengal, claims 2 lives, downpour continues | 'Man-made disaster': Gujarat High Court takes suo motu cognizance of Rajkot gaming zone fire that killed 27 people
Indian Overseas Bank registers 30.27 pct year-on-year rise in net profit
Indian Overseas Bank
Photo Courtesy: Wikimedia Commons

Indian Overseas Bank registers 30.27 pct year-on-year rise in net profit

| @indiablooms | 24 Jan 2024, 06:09 pm

Public sector Indian Overseas Bank on Wednesday reported 30.27% year-on-year rise in net profit at Rs 723 crore for October-December quarter (Q3) of the current financial year 2023-24.

The bank had logged a net profit of Rs 555 crore in the December quarter of 2022-23.

The bank's gross non-performing asset (NPA) ratio during Q3 of FY24 stood at 3.90%, down from 8.19% in the same quarter of the preceding year.

The net NPA ratio of the bank was 0.62% in the Q3 of current fiscal.

"Gross NPA as of 31st December 2023 stood at Rs 8,441 crores with ratio of 3.90% as against Rs 14,333 crores with ratio of 8.19% as on 31st December 2022. GNPA has reduced both in quantum and as a percentage of Gross Advances (YoY)," the bank said in a statement.

Gross advances of the bank stood at Rs 2,16,163 crores as on 31st December 2023 as against Rs 1,75,050 crores as on 31st December 2022.

(With UNI inputs)

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.