Indian Overseas Bank has reported results for third quarter ended December 31, 2016.
The Bank has reported a net loss of Rs 554.44 crore for the quarter under review as compared to a net loss of Rs 1425.06 crore for the same quarter in the previous year. Total income of the Bank decreased 13.13% at Rs 5599.50 crore for Q3FY17 as compared to Rs 6445.78 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 22.42%, as compared to 12.64% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 14.32% in Q3FY17.