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Deposit costs have likely peaked
Financial Express Kochi
|May 03, 2025
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.
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FLERE HISTORIER FRA Financial Express Kochi
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