New Delhi, May 02, 2025.
The state-owned Indian Overseas Bank (IOB) on Friday reported a 30 per cent rise in net profit to Rs 1,051 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Chennai-based lender had earned a net profit of Rs 808 crore in the year-ago period.
The bank’s MD and CEO Ajay Kumar Srivastava said the bank expects 13-14 per cent growth across sectors during the current financial year.
During the quarter, the bank’s total income increased to Rs 9,215 crore, as against Rs 9,106 crore a year ago.
