Indian Overseas Bank has registered a net profit of Rs. 206.15 crore for the second quarter ended September 30, 2010 against Rs. 176.04 crore in the same period in 2009-10 despite higher provision and contingencies of Rs. 305.13 crore against Rs. 122.04 crore.
Total income has increased to Rs. 3,074.73 crore from Rs. 2,922.34 crore. Interest income accounted for Rs. 2,800.19 crore against Rs. 2,549.95 crore.
Non-interest income was lower at Rs. 274.54 crore against Rs. 372.39 crore. Income from treasury operations was Rs. 811.19 crore against Rs. 795.44 crore, corporate and whole sale banking Rs. 1,567.17 crore (Rs. 1,300.71 crore), retail banking Rs. 584 crore (Rs. 745.14 crore) and other banking operations Rs. 111.46 crore (Rs. 80.31 crore).
Net interest income has increased to Rs. 956.30 crore from Rs. 784.62 crore and net interest margin has improved to 3.02 per cent from 2.73 per cent. Earnings per share improved to Rs. 15.14 (annualised) from Rs. 12.93.
Total business has crossed the Rs. 2 lakh crore mark to Rs. 2,06,214 crore from Rs. 1,87,853 crore.
Deposits have risen to Rs. 1,18,142 crore from Rs. 1,09,435 crore and advances to Rs. 88,072 crore from Rs. 78,418 crore.
Keywords: Indian Overseas Bank