Indian Overseas Bank has reported results for second quarter ended September 30, 2021.
The bank has reported above 2- fold jump in its net profit at Rs 376.41 crore for the quarter under review as compared to Rs 148.14 crore for the same quarter in the previous year. However, total income of the bank decreased by 1.01% at Rs 5375.56 crore for Q2FY22 as compared Rs 5430.58 crore for the corresponding quarter previous year.
The bank’s gross Non Performing Asset (NPA) for the July- September quarter of the current fiscal improved to 10.66%, as compared to 13.04% in the same quarter of the previous year. Besides, bank’s net NPA stood at 2.77% in Q2FY22.