Indian Overseas Bank has reported results for third quarter ended December 31, 2021.
The bank has reported above 2- fold jump in its net profit at Rs 454.11 crore for the quarter under review as compared to Rs 212.87 crore for the same quarter in the previous year. However, total income of the bank decreased by 6.96% at Rs 5,383.62 crore for Q3FY22 as compared Rs 5,786.54 crore for the corresponding quarter previous year.
The bank’s gross Non Performing Asset (NPA) for the October- December quarter of the current fiscal improved to 10.40%, as compared to 12.19% in the same quarter of the previous year. Besides, bank’s net NPA stood at 0.62% in Q3FY22.
