Indian Overseas Bank has reported results for third quarter ended December 31, 2015.
The bank has reported a net loss of Rs 1425.06 crore for the quarter ended December 31, 2015 as compared to net loss of Rs 516.03 crore for the same quarter in the previous year. The bank’s total income has decreased by 3.03% to Rs 6445.78 crore for the quarter under review from Rs 6647.45 crore for the corresponding quarter of the previous year.
Gross non-performing assets (NPAs) increased to 12.64% in the October- December quarter as against 8.12% in the same quarter previous year, while net NPAs stood at 8.32