Indian Overseas Bank Q2 profit jumps 56% to ₹1,912 crore

Performance

Indian Overseas Bank posted a net profit of ₹1,912 crore for the quarter ended September 30, a 56% rise from the ₹1,226 crore it earned in the same quarter last fiscal year. Interest income climbed 17% to ₹9,201 crore, up from ₹7,849 crore a year earlier.

Asset Quality

The bank’s gross non‑performing assets fell to 1.19% of gross advances, improving from 1.83% in the comparable quarter of the previous fiscal.

Market Reaction

Shares on the BSE rose to ₹30.01, gaining 4.56% over the previous close.

Context

Higher interest earnings and a better NPA ratio lifted profitability, reflecting a broader trend of improving asset quality among Indian public‑sector banks.