IOB Profit for the quarter ended recorded at Rs. 392 crores

Indian Overseas Bank declared Q1 Result ended 30.06.2022 recorded at Rs. 392 crores Profit. The Performance Highlights  As Under.

Performance Highlights For The Quarter Ended June 30, 2022 – YoY

1. Total business increased to Rs. 4,23,589 crores as on 30^th June 2022 as against Rs. 3,81,885 crores as on 30^th June 2021.

2. Total deposits increased to Rs. 2,60,045 crores as on 30^th June 2022 as against Rs.2,42,941 crores as on 30^th June 2021.  

3. CASA of the Bank improved to   43.07 % as on 30^th June 2022 as against 41.63% as on 30^th June 2021. Total CASA has increased from Rs.1,01,129 crores as on 30.06.2021 to Rs. 1,12,012 crores as on 30.06.2022.

4. Gross Advances increased to Rs. 1,63,544 crores as on 30^th June 2022 as against Rs.1,38,944 crores as on 30^th June 2021. The Bank has evolved a policy of not taking fresh exposures in stressed sectors, below hurdle rated accounts and BB and below rated accounts. The Bank has also exited from accounts in the stressed sectors due to improve the quality of asset.

5. Operating Profit for Quarter ended 30th June 2022 is decreased to Rs.  1026 crore from Rs.1202 crore, due to Marked to Market provision of Rs.340.16 crore on investments.

6. Provisions & Contingencies for quarter ended June’22 is Rs.630 crore as against Rs.868 crores for quarter ended 30^th June’21.

7. Net Profit: Net Profit for the quarter ended 30^thJune 2022 is Rs.392 crores as against Net Profit of Rs.327.00 crore for the quarter ended 30^th June 2021.

8. Total income for the quarter ended 30^th June 2022 stood at Rs. 5028    crore as against Rs.5155 crores for the quarter ended 30^th June 2021.

9. Interest income stood at Rs. 4435 crores for the quarter ended 30^th June 2022 as against Rs. 4,063 crores for the quarter ended 30^th June 2021.

10. Non-interest income is Rs. 593 crore for the quarter ended
    30^th June 2022 as against Rs.1,092 crore for the quarter ended 30^th June 2021 due to increase in other income.

11. Total Expenditure stood at Rs.4002 crore for the quarter ended 30^th June 2022 Increased as against Rs.3,953 crores for the quarter ended 30^th June 2021. 

12. NPA MANAGEMENT: Gross NPA as at 30^th June 2022 is at                                        Rs.   14769 crores with ratio of 9.03 % as against Rs. 15,952 crores with ratio of 11.48% as on 30^th June 2021. 

13. Total Reduction in NPA of Rs. 1006 crore achieved for quarter ended June ’22 as against the NPA Reduction of Rs. 1,616 crores during quarter ended June ‘21 

14. Net NPA is at Rs.  3698. crore with ratio of 2.43 % as on 30^th June 2022 as against Rs. 3,998 crores with ratio of 3.15% as on 30^th June 2021, reducing it by Rs.  300 crores in absolute terms. 

15. Provision Coverage Ratio is improved to 91.86 % as on 30^th June 2022 as against 91.56% as on 30^th June 2021.

Performance Highlights for the Quarter ended June 30, 2022 QoQ (Sequential) 

1. Total business stood at Rs. 4,23,589 crores as on 30^th June 2022 as against Rs. 4,17,960 crores as on 31^st March 2022. (including Investment)
2. 4. Gross Advancesstood at Rs. 1,63,544 crores as on 30^th June 2022 as against Rs.1,55,801crores as on 31^stMarch 2022.
      3. CASA of the Bank stood at43.07 % as on 30^th June 2022 as against 43.44% as on 31^st March 2022.

         Total deposits increased toRs.2,60,045 crores as on 30^th June 2022 as against Rs.2,62,159crores as on 31^st March 2022.

   5. Operating Profit for Quarter ended 30^th June 2022 stood atRs.1026crore as against Rs. 1,614crores forthe quarter ended 31^stMarch 2022.

    

   6. Net Profitfor the quarter ended 30^th June 2022stood at Rs.392croresas against Rs.552crores for quarter ended 31^stMarch 2022.

    

   7. Total income for the quarter ended 30^th June 2022 is Rs.5028crore as against Rs.5719 crores for the quarter ended 31^stMarch 2022.

    

   8. Interest income stood at Rs.4435crores for the quarter ended 30^th June 2022 as against Rs.4215 crores for the quarter ended 31^stMarch 2022.

    

   9. Non-interest incomestood atRs. 593 crore for the quarter ended 30^th June 2022 as against Rs. 1504 crore for the quarter ended
      31^stMarch 2022.

    

   10. Total Expenditure reduced from Rs.4104crores for the quarter ended 31^st March 2022 to Rs.4002 crores for the quarter ended 30^thJune 2022.

    

   11. NPA MANAGEMENT: Gross NPAreduced to Rs.14769crore with ratio of 9.03% as on 30^th June 2022as against Rs.15,299crores with ratio of9.82% as on 31^stMarch 2022.

    

   12. Total Reduction in NPAisRs. 1006crore achieved for quarter ended June ’22 as against Rs.1386crore achieved for quarter ended March ’22.

    

   13. Net NPAas at 30^th June 2022reduced to Rs.3698crores with ratio of 2.43 % as against Rs.3825crores with ratio of 2.65% as on 31^stMarch 2022 thusreducing it by Rs.127 crores in absolute terms.

    

   14. Provision Coverage Ratiois improved to91.86% as against 91.66% as on 31^stMarch 2022.