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Operating profit stood at Rs 2,266 crore in the December 2024 quarter, up 27.28% from Rs 1780.2 crore posted in the corresponding quarter last year. Profit before tax gained 14.70% year on year (YoY) to Rs 1,237.4 crore in the quarter ended 31 December 2024. Net interest income jumped 16.30% to Rs 2,789 crore in Q3 FY25 as compared to Rs 2,398 crore in the corresponding period last year. Net interest margin (NIM) improved to 3.33% in Q2 FY25 as compared to 3.12% registered in the same period a year ago. On the asset quality front, the bank's gross non-performing assets (NPAs) declined 28.28% to Rs 6,071 crore as on 31 December 2024 as against Rs 8,441 crore as on 31 December 2023. The bank's net non-performing assets (NPAs) declined 25.10% to Rs 976 crore as on 31 December 2024 as against Rs 1,303 crore as on 31 December 2023. The ratio of gross NPAs reduced to 2.55% as on 31 December 2024 as compared to 3.90% as on 31 December 2023. The ratio of net NPAs reduced to 0.42% as on 31 December 2024 from 0.62% as on 31 December 2023. Provision coverage ratio improved to 97.07% as on 31 December 2024 as against 96.85% as on 31 December 2023. Total deposits stood at Rs 3,05,121 crore (up 9.74% YoY), while advances came in at Rs 2,37,632 crore (up 9.93% YoY) as on 31 December 2024. Total CASA rose 9.45% to Rs 1,32,338 crore as 31 December 2024, as compared with Rs 1,20,915 crore as on 31 December 2023. CASA ratio reduced to 43.37% as on 31 December 2024 from 43.49% reported in the same period a year ago. CRAR improved to 16.97% as on 31 December 2024 as against 16.80% as on 31 December 2023. Indian Overseas Bank is engaged in the business of banking & financial services. Powered by Capital Market - Live News
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