IOB's June quarter loss narrows to Rs 342 cr, from Rs 919 cr last year

Lender's NPA ratios improve, recoveries surpass slippages during the quarter

Indian Overseas Bank's net loss has come down to Rs 342.08 crore during the quarter ended June 30, 2019, from a loss of Rs 919.44 crore during the same quarter last year.

The bank's total income declined six per cent to Rs 5,006.48 crore during the quarter, from as Rs 5,326.71 crore during the corresponding quarter of previous year.

Its gross non-performing assets (NPA) as a percentage of gross advances declined to 22.53 per cent (Rs 33,262 crore) from 25.64 per cent (Rs 38,146.05 crore) a year ago. Net NPA also has declined to 11.04 per cent (Rs 14,173.84 crore)