<p>New Delhi: State-owned Indian Overseas Bank (IOB) on Monday reported a 21 per cent rise in net profit at Rs 874 crore for the third quarter ended December 2024 on the back of a reduction in bad loans.</p>.<p>The Chennai-based lender had earned a net profit of Rs 723 crore in the same quarter a year ago.</p>.<p>Total income increased to Rs 8,409 crore during the quarter under review from Rs 7,437 crore in the same period last year, IOB said in a regulatory filing.</p>.<p>Operating profit of the bank improved to Rs 2,266 crore as against Rs 1,780 crore in December 2023.</p>.IOB bank broken into, several lockers robbed in Lucknow.<p>Interest income also rose to Rs 7,112 crore over Rs 6,176 crore for the quarter ended December 2023.</p>.<p>On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 2.55 per cent of gross loans by the end of December 2024 from 3.90 per cent a year ago.</p>.<p>Similarly, net NPAs or bad loans came down to 0.42 per cent as compared to 0.62 per cent in FY24.</p>.<p>Capital Adequacy Ratio of the bank rose to 16.97 per cent as against Rs 16.80 per cent at the end of same quarter a year ago.</p>.<p>Provision Coverage Ratio of the bank as on December 31, 2024, stood at 97.07 per cent as compared to 97.06 per cent at the end of September 30, 2024.</p>
<p>New Delhi: State-owned Indian Overseas Bank (IOB) on Monday reported a 21 per cent rise in net profit at Rs 874 crore for the third quarter ended December 2024 on the back of a reduction in bad loans.</p>.<p>The Chennai-based lender had earned a net profit of Rs 723 crore in the same quarter a year ago.</p>.<p>Total income increased to Rs 8,409 crore during the quarter under review from Rs 7,437 crore in the same period last year, IOB said in a regulatory filing.</p>.<p>Operating profit of the bank improved to Rs 2,266 crore as against Rs 1,780 crore in December 2023.</p>.IOB bank broken into, several lockers robbed in Lucknow.<p>Interest income also rose to Rs 7,112 crore over Rs 6,176 crore for the quarter ended December 2023.</p>.<p>On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 2.55 per cent of gross loans by the end of December 2024 from 3.90 per cent a year ago.</p>.<p>Similarly, net NPAs or bad loans came down to 0.42 per cent as compared to 0.62 per cent in FY24.</p>.<p>Capital Adequacy Ratio of the bank rose to 16.97 per cent as against Rs 16.80 per cent at the end of same quarter a year ago.</p>.<p>Provision Coverage Ratio of the bank as on December 31, 2024, stood at 97.07 per cent as compared to 97.06 per cent at the end of September 30, 2024.</p>