Indian Overseas Bank (IOB) on Friday posted a 25 per cent growth in its net profit to Rs 625 crore during the second quarter ended September 30, 2023. Its interest income during July-September 2023 stood at Rs 5,821 crore for the quarter ended September 30, 2023.
The state-owned lender had posted a net profit of Rs 501 crore in the year-ago period.
IOB’s gross NPA ratio improved to 4.74 per cent in the second quarter of this fiscal, from 8.53 per cent in the same period of 2022-23 fiscal. Its total business improved to Rs 4.82 lakh crore.
Shares of IOB were trading 4.74 per cent higher at Rs 40.22 apiece on the BSE.