Indian Overseas Bank's profit jumps, business grows strong
Indian Overseas Bank (IOB) just posted a big win for Q3 FY25, with profits soaring 56% to ₹1,365 crore compared to last year.
The boost came from more loans and better asset quality—total advances jumped 24%, especially in retail, agri, and MSME sectors.
What's driving the numbers?
IOB's vehicle loans took off after a GST cut last September, and net interest income climbed 18% to ₹3,299 crore.
The bank also kept its problem loans low—gross NPAs dropped to 1.54%.
With total business at ₹6.44 lakh crore and CASA deposits up nearly 8%, IOB is looking solid.
What's next for IOB?
To keep the momentum going, IOB plans to raise up to ₹4,000 crore this fiscal for future growth.
As MD Ajay Kumar Srivastava puts it, these moves are about strengthening the bank's position and supporting its customers' needs.