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

Tags: News
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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • State-owned banks can ride technology surge to penetrate retail segment

    For the first time in recent history, two large private sectors banks, ICICI and Axis have reduced their headcounts.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

The rabbit hole of outcome budgets

Would you tell me, please, which way I ought to ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture