New Delhi: State owned indian overseas bank (IOB) Data released on Thursday showed a growth of 24%. net profit arrive 777 Crores Season 2 ends in September 2024.
IOB said in a regulatory filing that its total revenue rose to 8,484 billion rupees in the quarter from 6,935 billion rupees in the same period last year.
The bank’s interest income for the quarter was Rs 6,851 crore as compared to Rs 5,821 crore in the same period last year.
about Asset qualityThe bank was able to reduce gross non-performing assets (NPA) to 2.72% of total loans by the end of September 2024 from 4.74% a year ago.
Likewise, net non-performing loans, or non-performing loans, fell to 0.47% from 0.68% at the end of the second quarter of the previous fiscal.
As a result, bad loan provisions fell significantly to Rs 71 crore as against Rs 1,121 crore in the same quarter of FY24.
As of September 30, 2024, the bank’s provision coverage ratio was 97.06%.
The capital adequacy ratio increased to 17.45% from 17% at the end of the second quarter of the previous fiscal year.
