Social News XYZ     

IOB’s net loss falls by 65.6% in Q1

Posted By: Doraiah Vundavally August 10, 2017

IOB's net loss falls by 65.6% in Q1New Delhi, Aug 10 (IANS) State-run Indian Overseas Bank (IOB) on Thursday reported a fall in net loss by 65.6 per cent at Rs 49,909 lakh in the first quarter ended June 30, compared with a loss of Rs 1,45,050 lakh in the year-ago period.

The lender's provision for non-performing assets (NPAs) in the quarter under review stood at Rs 1,60,788 lakh, down by 24.7 per cent from Rs 2,13,781 lakh in the corresponding quarter of last fiscal.

The bank's total income during the period was Rs 5,17,450 lakh, down by 11.82 per cent from Rs 5,86,844 lakh in the same period in the last fiscal.

 

In the said quarter, IOB's gross NPAs stood at Rs 35,45,312 lakh, up by 4.5 per cent from Rs 33,91,315 lakh in the corresponding period last year.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

Facebook Comments
IOB's net loss falls by 65.6% in Q1

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.