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IoB shows improvement in asset quality in Q2
The New Indian Express
|October 19, 2024
CHENNAI-based Indian Overseas Bank (IoB) has shown massive improvement in asset quality, with its gross NPAs falling by 50% or by 202 bps to 2.72% from 4.74% a year ago, while the net NPAs improved by 21 bps to 0.47% from 0.68%.
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In value terms, the bank's gross NPA has fallen from ₹9,893 crore in the second quarter of FY24 to ₹6,249 crore in the same period in FY25. In the first quarter, the gross NPA was ₹6,649 crore. Net NPA at the end of the second quarter was ₹1,059 crore compared to ₹1,364 crore. NPA provisions have also come down from ₹1,121 crore in the Q2 of FY24 to ₹71 crore in the second quarter of the current financial year. Provision coverage ratio improved to 97.06%, refle
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