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IOB posts Rs 143.79 cr net profit in Q4 FY20 on back of declining bad loans

Provisioning for bad loans and contingencies during the quarter under review fell to Rs 1,060.38 crore as against Rs 4,501.92 crore in the year-ago quarter

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Similarly, net NPAs or bad loans dropped to 5.44 per cent (Rs 6,602.80 crore) from 10.81 per cent (Rs 14,368.30 crore) a year ago

Press Trust of India New Delhi

2 min read Last Updated : Jun 25 2020 | 7:19 PM IST

Indian Overseas Bank (IOB) swung into black, posting a net profit of Rs 143.79 crore in the quarter ended March 2020 as bad loans declined significantly.

The public sector bank had posted a net loss of Rs 1,985.16 crore during January-March quarter of preceding fiscal ended March 2019.

In October-December 2019, its net loss stood at Rs 6,075.49 crore.

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Income during March quarter of FY20 remained nearly flat at Rs 5,484.06 crore as compared with Rs 5,473.92 crore in the same period of 2018-19, IOB said

Topics : Indian Overseas Bank Q4 results Q4 earnings IOB Q4 results