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Indian Overseas Bank’s Q2 net loss narrows to Rs 487.26 crore

27 Oct 2018 Evaluate

Indian Overseas Bank has reported results for second quarter ended September 30, 2018.

The Bank has reported a net loss of Rs 487.26 crore for the quarter under review as compared to net loss of Rs 1,222.50 crore for the same quarter in the previous year. However, total income of the bank decreased by 4.67% at Rs 5,348.35 crore for Q2FY19 as compared Rs 5,610.35 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased to 24.73%, as compared to 22.73% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 14.34% in Q2FY19.


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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