After 4 years, NPA-laden IOB expects to be back in the black in FY20

IOB may exit RBI's Prompt Corrective Action framework by 2019-20

Public sector lender Indian Overseas Bank (IOB), which has been facing losses due to high non-performing assets (NPAs), is expected to post a full-year profit in 2019-20.   

The optimism comes in the backdrop of a number of the bank's branches turning a profit and growth in operating profit and net interest income (NII). The other major reason would be the reduction in NPAs as the bank is confident of finding solutions for cases worth around Rs 40 billion.  

"Both the crisis and consolidation phases are over. The bank is now stepping into the leveraging phase and it would