Indian Overseas Bank (IOB) has reported results for the second quarter ended September 30, 2011.
The bank’s net profit for the second quarter has increased marginally by 0.64% at Rs 207.46 crore as compared to Rs 206.15 crore for the corresponding quarter of the last year. The bank’s total income has surged 56.84% at Rs 4822.56 crore for the quarter under review as compared to Rs 3074.74 crore for the second quarter of the previous year.
Moreover, the bank’s gross non-performing assets (NPA) is stood at Rs 3,898 crore during the period ended September 30 from Rs 3,326 crore in the same period of the last fiscal. The incremental NPA was at Rs 498 crore. It has also switched over to system based NPA.