On Friday, May 2, Indian Overseas Bank said that its standalone net profit for Q4FY25 increased by 30% year-over-year (YoY) to ₹1,051.07 crore, up from ₹808.10 crore in the same period the previous year.
In comparison to the same quarter last year, when it was ₹1,961.11 crore, the bank's operating profit before provisions and contingencies for the current quarter was ₹2,617.92 crore, a 33.5 percent increase. At ₹3,123 crore, Net Interest Income (NII) grew 13% year over year.
During the quarter, the bank's gross non-performing assets (NPA) decreased 21.3% year over year to ₹5,347.72 crore from ₹6,794.43 crore in Q4FY24.
Additionally, net NPA decreased by 25% year over year to ₹911.86 crore from ₹1,216.86 crore. In comparison to the same quarter previous year, when it was 0.57 percent, net non-performing assets (NPA) were 0.37 percent.
Compared to Rs 1,961 crore during the same period last year. With the gross-non-performing assets ratio dropping to 2.14% at the conclusion of the most recent fiscal year from 2.55% three months prior and 3.10% a year earlier, the bank's asset quality improved.
Supported by a nearly 30% increase in retail loans and a 34% growth in agri-loans, its gross advances increased 14.15% year over year to Rs 2.50 lakh crore.Total deposits rose 9.11% to Rs 3.12 lakh crore with the share of current and savings account deposits standing at 43.65%.
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