 "Indian Overseas Bank share rallies 6% on robust Q3FY25 show; details here")
IOB results, share price: State-owned Indian Overseas Bank (IOB) shares rallied as much as 5.98 per cent to hit an intraday high of Rs 53.66 per share on Monday, January 20, 2025.
The uptick in Indian Overseas Bank shares price came after the company posted a strong set of results in the December quarter of financial year 2025 (Q3FY25).
IOB’s net profit rose 21 per cent year-on-year (Y-o-Y) to Rs 874 crore in the December quarter of financial year 2025 (Q3FY25), from Rs 723 crore in the December quarter of financial year 2024 (Q3FY24).
The Net Interest Income (NII), which is interest earned minus interest expended, jumped 16 per cent Y-o-Y, to Rs 2,789 crore in Q3FY25, from Rs 2,398 crore in Q3FY24.
On the asset quality front, gross non performing assets (GNPA) improved to Rs 6,070.5 crore in Q3FY25, from Rs 6,249.07 crore in the previous quarter of the same financial year (Q2FY25).
Net non performing assets (NNPA) came in at Rs 975.91 crore in Q3FY25, from Rs 1,059.25 crore in Q2FY25.
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Meanwhile, gross NPA ratio improved to 2.55 per cent in Q3FY25, as against 2.72 per cent in Q2FY25. Similarly, net NPA came improved to 0.42 per cent in Q3FY25, from 0.47 per cent in Q2FY25.
In Q3FY25, provisions stood at Rs 1,028.6 crore, as against Rs 701.42 crore in Q3FY24. The provisions in Q2FY25 was Rs 1,146.3 crore.
About Indian Overseas Bank
Indian Overseas Bank (IOB) is a public sector bank in India, established in 1937 by M. Ct. M. Chidambaram Chettyar with a focus on foreign exchange and overseas banking.
The bank began its journey by simultaneously opening branches in Karaikudi, Madras (Chennai), and Rangoon (Yangon). Over the years, it has grown into a trusted financial institution, providing comprehensive banking services.
Headquartered in Chennai, IOB caters to diverse customer needs with offerings like retail banking, personal banking, merchant banking, and digital banking services.
With a global presence through branches in Singapore, Colombo, Hong Kong, Bangkok, and Seoul, IOB continues to play a major role in India's banking sector. It was one of the 14 banks nationalised in 1969, further solidifying its importance in the country's financial landscape.
Last checked, the market capitalisation of Indian Overseas Bank stood at Rs 99,634.62 crore, according to BSE. The company falls under the BSE 200 category.
The 52-week high of the Indian Overseas Bank share iRs 83.80 while its 52-week low is Rs 43.42 per share.
At 1:05 PM, Indian Overseas bank shares were trading 4.11 per cent higher at Rs 52.71 per share. In comparison, BSE Sensex was trading 0.77 per cent higher at 77,209.84 levels.