IOB Q2 loss widens to Rs 2,250 crore from Rs 712 crore a year ago

Total income down 6% to Rs 5,024 crore; bad loans shrink

Indian Overseas Bank (IOB) has reported a wider loss of Rs 2,250.03 crore during the quarter ended September 30, 2019, as compared to Rs 712.41 crore during the same period last year. The management was striving to come out of a loss situation and post a profit during the second quarter.

The lender's total income declined by six per cent to Rs 5,024 crore from Rs 5,348.35 crore during the same quarter last year.