{"id":199630,"date":"2024-12-21T07:39:16","date_gmt":"2024-12-21T07:39:16","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/21\/iob-q3-profit-jumps-30-to-rs-723-crore-on-improvement-in-core-income-times-of-india\/"},"modified":"2024-12-21T07:39:16","modified_gmt":"2024-12-21T07:39:16","slug":"iob-q3-profit-jumps-30-to-rs-723-crore-on-improvement-in-core-income-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/21\/iob-q3-profit-jumps-30-to-rs-723-crore-on-improvement-in-core-income-times-of-india\/","title":{"rendered":"IOB Q3 profit jumps 30% to Rs 723 crore on improvement in core income &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/thumb\/msid-116528732,imgsize-25214,width-400,resizemode-4\/116528732.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"IOB Q3 profit jumps 30% to Rs 723 crore on improvement in core income &#8211; Times of India\" title=\"IOB Q3 profit jumps 30% to Rs 723 crore on improvement in core income &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>NEW DELHI: <!-- -->State-owned Indian Overseas Bank<!-- --> (<!-- -->IOB<!-- -->) on Wednesday reported 30 per cent rise in net profit at <!-- -->Rs 723 crore for December quarter<!-- --> 2023-24, on the back of improvement in core income and reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a year ago. <br \/> Operating profit of the bank improved to Rs 1,780 crore as against Rs 1,540 crore in December 2022. <br \/> Total income increased to Rs 7,437 crore during the quarter under review from Rs 6,006 crore in the same period last year, IOB said in a regulatory filing. <br \/> Interest income also rose to Rs 6,176 crore over Rs 5,056 crore for the quarter ended December 2022. <br \/> During the quarter, the bank had done total cash recovery of Rs 327 crore as against Rs 460 crore in the third quarter of the previous fiscal. <br \/> On the asset quality front, the bank&#8217;s gross <!-- -->Non-Performing Assets<!-- --> (NPAs) declined to 3.90 per cent of gross loans by the end of December 2023 from 8.19 per cent a year ago. <br \/> Similarly, net NPAs or bad loans came down to 0.62 per cent as compared to 2.43 per cent in FY22. <br \/> As a result, provisions for bad loans declined to Rs 367 crore from Rs 711 crore a year ago. <br \/> The bank&#8217;s Provision Coverage Ratio stood at 96.85 per cent at the end of third quarter as against 91.34 per cent as on December 31, 2022. <br \/> Its Capital Adequacy Ratio improved to 16.80 per cent from 15.16 per cent at the end of the December quarter of FY22. <br \/> Current Account Savings Account (CASA) as percentage of total deposits declined marginally to 43.49 per cent.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":199631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-116528732,imgsize-25214,width-400,resizemode-4\/116528732.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[289,550,1955,26419,7402,273,44926,44930,2899,39710,498,156694,156693,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/199630"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=199630"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/199630\/revisions"}],"predecessor-version":[{"id":199632,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/199630\/revisions\/199632"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/199631"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=199630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=199630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=199630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}