Indian Overseas Bank yesterday reported a net loss of Rs
550.83 crore for the second quarter ending September 30,
2015.The Chennai-based bank had registered a net loss of
245.51 crore during the corresponding period of the previous
year, Indian Overseas Bank said in a BSE filing. For the half
year period ending September 30, 2015, net loss stood at
Rs 536.07 crore as against net profit of Rs 26.21 crore
registered during the year ago period.Total income for the
July-September, 2015 quarter increased to Rs 6,769.94
crore from Rs 6,440.77 crore registered during the same
period of
the previous year. For the six month period ending
September 30, 2015, total income rose to Rs 13,442.05
crore
from Rs 12,725.46 crore registered during same period of
the
previous year.The bank said "increased provisions for
domestic and overseas advances resulted in the net loss for
the quarter ending September 30, 2015. Total business for
the quarter ending September 30, 2015stood at Rs 4,09,542
crore while total deposits stood at Rs 2,33,026 crore. Gross
NPA (Non-Performing Asset) as on September 30, 2015
stood at Rs 19,424 crore with NPA ratio of 11 percent. Net
NPA as on September 30, 2015 stood at Rs 12,539 crore
with Net NPA ratio of 7.41 percent.
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