Indian Overseas Bank (IOB) has reported results for first quarter ended June 30, 2017.
The Bank has reported a net loss of Rs 499.09 crore for the quarter under review as compared to a net loss of Rs 1450.50 crore for the same quarter in the previous year. Total income of the Bank decreased by 11.82% at Rs 5174.50 crore for Q1FY18 as compared Rs 5868.44 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the April-June quarter of the current fiscal increased to 23.60%, as compared to 20.48% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 14.97% in Q1FY18.