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Indian Overseas Bank net profit up 154% to Rs 376 crore in Q2

Total income down marginally by 1% to Rs 5,376 crore; asset quality shows signs of improvement

Indian Overseas Bank, IOB
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Shine Jacob Chennai
State-run Indian Overseas Bank (IOB) has posted a 154 per cent increase in net profit during the second quarter of the current financial year ended on September 30 to Rs 376 crore, as compared to Rs 148 crore during the same quarter in 2020-21.

The lender's total income for the reporting quarter was down marginally by about 1 per cent to Rs 5,376 crore, from Rs 5,430 during the July to September quarter of 2020-21. The bank’s managing director and chief executive officer P P Sengupta said the reasons for the better financial numbers is owing to a better outlook

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First Published: Oct 27 2021 | 4:49 PM IST

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