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Wednesday, November 4, 2015

Indian Overseas Bank yesterday reported a net loss of Rs 550.83 crore



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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