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IOB to get capital infusion of Rs 1,100 crore from government

23 Mar 2017 Evaluate

Indian Overseas Bank (IOB) will receive a capital infusion of Rs 1,100 crore from the Centre. The Finance Ministry has planned to support weak and loss-making public sector banks with a Rs 8,586 crore turnaround-linked capital-infusion plan.

The Bank 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.

 

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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