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HomeMarketStocksIOB posts 33.2% jump in Q2 net at Rs 501 crore

IOB posts 33.2% jump in Q2 net at Rs 501 crore

Public sector has recorded a 33.2 per cent bounce in its web revenue for the second quarter ending September 30, 2022 at Rs 501 crore, the financial institution mentioned on Sunday. Town-headquartered financial institution registered web revenue at Rs 376 crore throughout the corresponding interval final yr.

For the half yr ending September 30, 2022 the online revenue surged to Rs 893 crore from Rs 703 crore final yr.

The entire earnings throughout the quarter ending September 30, 2022 went as much as Rs 5,852.45 crore from Rs 5,028 crore recorded as on June 30, 2022. The entire business stood at Rs 4,34,441 crore as in opposition to Rs 4,23,589 crore.

The deposits grew to Rs 2,61,728 crore from Rs 2,60,045 crore.
The web non-performing assets (NPA) ratio stood at 2.56 per cent as on September 30, 2022 when in comparison with 2.77 per cent registered as on September 30, 2021, the financial institution mentioned. In the course of the quarter underneath evaluate, the gross NPA lowered by Rs 43 crore. “GNPA (gross NPA) ratios improved to eight.53 per cent (as on September 30,2022) from 10.66 per cent as on June 30, 2022″, the financial institution mentioned. The curiosity earnings throughout the quarter underneath evaluate stood at Rs 4,717.61 crore in opposition to Rs 4,255 crore registered final yr. The entire money restoration for September 2022 interval was at Rs 494 crore as in opposition to Rs 479 crore registered in June 2022, the financial institution mentioned.

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