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IOB Profit Rises 21% on Loan Growth, Recoveries
The New Indian Express Vellore
|January 21, 2025
CHENNAI-based public sector lender Indian Overseas Bank on Monday reported a close to 21% increase in net income at ₹874 crore, boosted by improved asset quality and higher recoveries in the December quarter of the current financial year (FY25) compared to ₹723 crore in the year ago period.
The bank's total income climbed more than 13% to ₹8,409 crore from ₹7,437 crore, of which the interest income increased by 15.16% to ₹7,112 crore and the net interest income grew higher 16.30% to ₹2,789 crore.
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