Indian Overseas Bank posts over 4-fold jump in Q4 profit

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State-run Indian Overseas Bank has reported over four-fold jump in net profit at Rs 268.33 crore for the last quarter of FY2013-14 compared to the year-ago period.

The Chennai-based bank had reported a profit of Rs 58.87 crore for the same period last year.

Total income of the bank for the quarter ending March 31, 2014 grew to Rs 6,475.93 crore from Rs 5,898.15 crore registered during the same period of previous year.

Gross NPA of the bank for the fourth quarter ending March 31, 2014 stood at 4.98 per cent as against 4.02 per cent registered during the same period of previous year.

Net NPA of the bank stood at 3.20 per cent for the fourth quarter ending March 31, 2014 as against 2.50 per cent registered during the same period of previous year.

For the financial year ending March 31, 2014, the net profit of the bank grew by six per cent to Rs 601.74 crore from Rs 567.23 crore registered during the same period of previous year.

For the financial year ending March 31, 2014 the total income of the bank grew to Rs 24,853.07 crore from Rs 22,649.63 crore, it said.

Total business of the bank for the year ending March 31,2014 grew by 12 per cent to 4,09,057 crore from Rs 3,66,501 crore registered during the same period of previous year.

Total deposits for the financial year ending March 31, 2014 grew by 13 per cent to Rs 2,27,976 crore from Rs 2,02,135 crore registered during the same period of previous year.

Gross advances for the period ending March 31, 2014 grew to Rs 1,81,081 crore from Rs 1,64,366 crore registered during the same period of previous year.

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