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IOB net profit up 28% on written-off recoveries
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MUMBAI Indian Overseas Bank reported a 28% increase in net profit to 500 crore in the June quarter mainly due to recovery from written-off accounts, reports Our Bureau.Net interest income rose 22% YoY to 5,424 crore while net interest margin improved to 3.21% from 2.53%. Asset quality improved with gross non-performing assets (NPA) at 7.13% as against 9.13% a year ago.
Read more on economictimes.indiatimes.comAbout this in other media
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