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Indian Overseas Bank reports net loss of Rs 516.03 crore in Q3

05 Feb 2015 Evaluate

Indian Overseas Bank has reported results for third quarter ended December 31, 2014.

The bank has reported a net loss of Rs 516.03 crore for the quarter under review as compared to a net profit of Rs 75.07 crore for the same quarter in the previous year. However, total income of the bank increased by 7.39% at Rs 6647.45 crore for Q3FY15 as compared Rs 6190.26 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) of the bank increased sharply to 8.12% in the October-December quarter as against 5.27% in the same quarter previous year, while net NPAs stood at 5.52%.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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