Business Standard

IOB net profit rises 22% to Rs 529 cr

Related News

(IOB) has posted an increase of 21.76 per cent in net profit at Rs 528.81 crore for the quarter ended March 31, against Rs 434.29 crore registered during the year-ago period. Total income stood at Rs 5,416.09 crore for the quarter ended March,compared with Rs 3,916.58 crore posted for the corresponding period of last year, an increase of 38.29 per cent.

The total business for 2011-12 grew to Rs 3,21,707 crore from Rs 2,59,020 crore during the previous year. The net non-performing assets (NPA) stood at Rs 1,907.44 crore,as against Rs 1,328.42 crore as on March 31, 2011, with net ratio of 1.35 per cent and 1.19 per cent, respectively.

IOB would need additional capital of about Rs 9,500 crore by 2017-18 to maintain the capital adequacy ratio prescribed by the Base III international accounting standards, which according to Reserve Bank of India, would come into effect from January 1, 2013.

Read more on:   
|
|
|
|
|
|

Read More

Rupee touches new low at Rs 56.5 vs dollar

The rupee today tumbled by 26 paise to trade at a new low of Rs 56.50 against the US dollar in early trade on increased capital outflows and strong ...

Quick Links

More news from Finance Rss icon

Long term motor policies for commercial vehicles is sometime away

It is estimated that the combined ratio for motor insurance might touch 200% by the end of March 31, 2015

The going gets tough for insurance claim investigators

Many operating in insurance claims investigation space are facing hardships during probing suspicious claims

At RBI's Sept 30 review, most external members sought a rate cut

While three members sought a cut of 25 basis points (bps), one argued for a 50-bps cut

Back to Top