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Indian Overseas Bank reports 22% growth in Q4 net profit

07 May 2012 Evaluate

Indian Overseas Bank has reported a 21.76% jump in its net profit for the fourth quarter ending March 31, 2012 at Rs 528.81 crore, compared to the year-ago period.

The total income of the city-headquartered bank in the January-March quarter rose by 38.26% to Rs 5,415.09 crore as against Rs 3,916.58 crore during the same period of previous year.

The net profit for the year ending March 31, 2012 stood at Rs 1,050.13 crore. The total income stood at Rs 19,578.13 crore as against Rs 13,326.56 crore registered during the same period of last year.

For the full year, the total business grew by 24% to Rs 3,21,707 crore from Rs 2,59,020 crore registered last year.

The company’s board has recommended a dividend of 45% for the financial year ending March 31, 2012.

 

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