Indian Overseas Bank (IOB) has reported a marginal increase in its net profit at Rs. 207.46 crore for the quarter ended September 30, 2011 against Rs. 206.15 crore in the same quarter in the previous year. For the half-year ended September 2011, too, the net profit is up only marginally to Rs.413.04 crore from Rs. 406.59 crore in the year-ago period last year.
Total business of the bank has grown to Rs.2,90,744 crore from Rs. 2,06,214 crore for the half-year ended September 2011. Deposits have risen to Rs.1,63,579 crore from Rs.1,18,142 crore. Advances have increased by over 44 per cent to Rs. 1,27,166 crore from Rs.88,072 crore. While interest income has grown by around 57 per cent for the quarter ended September 2011 to Rs.4,395.39 crore, non-interest income has risen by over 55 per cent to Rs. 427.17 crore during the quarter under review.
