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Deposit costs have likely peaked
May 03, 2025
|Financial Express Lucknow
Indian Overseas Bank has reported a significant improvement in its asset quality for the fourth quarter.
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MD and CEO Ajay Kumar Srivastava shares the lender's FY26 growth plans with Narayanan V. Excerpts:
IOB's fresh slippages have spiked to ₹2,756 crore in Q4FY25 from ₹329 crore last year.
The spike is mainly due to slippages in one major corporate account (MTNL). During the fourth quarter, MTNL had a slippage of ₹2,332 crore. Without it, slippages are lower compared to the previous quarter. The entire exposure of MTNL has been 100% provided for, so there won't be any provisioning impact on this account in the future. Also, you should note that despite ₹2,332 crore of slippages in the last quarter, our gross NPA has come down to 2.14% from 3.10% and we have still managed to show over ₹1,000 crore of net profit. That conveys the soundness of the bank.
هذه القصة من طبعة May 03, 2025 من Financial Express Lucknow.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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