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%.