Indian Overseas Bank has reported results for fourth quarter and year ended March 31, 2021.
The bank has reported 2-fold jump in its net profit at Rs 349.77 crore for the quarter under review as compared to Rs 143.79 crore for the same quarter in the previous year. Total income of the bank increased by 10.75% at Rs 6073.80 crore for Q4FY21 as compared Rs 5484.06 crore for the corresponding quarter previous year.
For the year ended March 31, 2021, the bank has reported net profit at Rs 831.47 crore as compared to net loss at Rs 8527.40 crore for the previous year. Total income of the bank increased by 8.75% at Rs 22524.55 crore for year under review as compared to Rs 20712.48 crore for year ended March 31, 2020.