{"id":105941,"date":"2023-08-02T16:44:49","date_gmt":"2023-08-02T11:14:49","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=105941"},"modified":"2023-08-02T16:47:06","modified_gmt":"2023-08-02T11:17:06","slug":"iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/","title":{"rendered":"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit  +28% YoY at Rs 500 Crore"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-311980978\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period. <\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3194469421\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The total income in the first quarter of the current fiscal rose to Rs 6,227 crore against Rs 5,028 crore, IOB said in a regulatory filing. The lender&#8217;s interest income also increased to Rs 5,424 crore from Rs 4,435 crore in the same quarter a year ago.<\/p><p>On the asset quality side, the bank witnessed an improvement with the gross Non-Performing Assets (NPAs) easing to 7.13 per cent of the gross advances by June 2023 as against 9.12 per cent a year ago. The net NPA too declined to 1.44 per cent over 2.43 per cent in the same period of the previous financial year. <\/p><p>However, provisions for bad loans increased to Rs 809 crore as compared to Rs 133 crore a year ago. Provision Coverage Ratio is improved to 94.03 per cent as on June 30, 2023 from 91.86 per cent at the end of June 2022. The capital adequacy ratio of the bank improved to 16.56 per cent at the end of June over 14.79 per cent a year ago. <\/p><div class=\"trade-content_5\" id=\"trade-2196151585\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>During the quarter, the bank made a provision of Rs 180 crore on an ad-hoc basis for arrears pursuant to the proposed 12th bipartite settlement due from November 1, 2022.<\/p><div class=\"trade-after-content\" id=\"trade-2355421029\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period. The total income in the first quarter [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-105941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore\" \/>\n<meta property=\"og:description\" content=\"State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-02T11:14:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-02T11:17:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/\",\"url\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/\",\"name\":\"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg\",\"datePublished\":\"2023-08-02T11:14:49+00:00\",\"dateModified\":\"2023-08-02T11:17:06+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/640937d840c7695c8f8995dd15ae0666\"},\"description\":\"State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period.\",\"breadcrumb\":{\"@id\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#primaryimage\",\"url\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg\",\"contentUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg\",\"width\":1280,\"height\":854},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tradebrains.in\/features\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tradebrains.in\/features\/#website\",\"url\":\"https:\/\/tradebrains.in\/features\/\",\"name\":\"Trade Brains\",\"description\":\"Stock Market NSE\/BSE Latest News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tradebrains.in\/features\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/640937d840c7695c8f8995dd15ae0666\",\"name\":\"Trade Brains\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bd7d6331c5ab74181158fb2f0f0d9eada16909507ed513a20867478cf3bbdd43?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bd7d6331c5ab74181158fb2f0f0d9eada16909507ed513a20867478cf3bbdd43?s=96&d=mm&r=g\",\"caption\":\"Trade Brains\"},\"sameAs\":[\"http:\/\/tradebrains.in\/\"],\"url\":\"https:\/\/tradebrains.in\/features\/author\/trade-brains\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore - Trade Brains Features","description":"State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/","og_locale":"en_US","og_type":"article","og_title":"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore","og_description":"State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period.","og_url":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/","og_site_name":"Trade Brains Features","article_publisher":"https:\/\/www.facebook.com\/TradeBrainsOfficial\/","article_published_time":"2023-08-02T11:14:49+00:00","article_modified_time":"2023-08-02T11:17:06+00:00","og_image":[{"width":1280,"height":854,"url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg","type":"image\/jpeg"}],"author":"Trade Brains","twitter_card":"summary_large_image","twitter_image":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg","twitter_creator":"@TradeBrainsGrp","twitter_site":"@TradeBrainsGrp","twitter_misc":{"Written by":"Trade Brains","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/","url":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/","name":"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore - Trade Brains Features","isPartOf":{"@id":"https:\/\/tradebrains.in\/features\/#website"},"primaryImageOfPage":{"@id":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#primaryimage"},"image":{"@id":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#primaryimage"},"thumbnailUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg","datePublished":"2023-08-02T11:14:49+00:00","dateModified":"2023-08-02T11:17:06+00:00","author":{"@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/640937d840c7695c8f8995dd15ae0666"},"description":"State-owned Chennai based lender, Indian Overseas Bank (IOB) on Wednesday posted a 28 per cent increase in net profit at Rs 500 crore in the June quarter, mainly due to a decline in bad loans. IOB posted a net profit of Rs 392 crore in the year-ago period.","breadcrumb":{"@id":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#primaryimage","url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg","contentUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/indian-overseas-bank-Cover-Image.jpg","width":1280,"height":854},{"@type":"BreadcrumbList","@id":"https:\/\/tradebrains.in\/features\/iob-reports-significant-improvement-in-asset-quality-other-fundamentals-q1-24-net-profit-28-yoy-at-rs-500-crore\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tradebrains.in\/features\/"},{"@type":"ListItem","position":2,"name":"IOB Reports Significant Improvement in Asset Quality &amp; other Fundamentals; Q1 \u201824 Net Profit +28% YoY at Rs 500 Crore"}]},{"@type":"WebSite","@id":"https:\/\/tradebrains.in\/features\/#website","url":"https:\/\/tradebrains.in\/features\/","name":"Trade Brains","description":"Stock Market NSE\/BSE Latest News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tradebrains.in\/features\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/640937d840c7695c8f8995dd15ae0666","name":"Trade Brains","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bd7d6331c5ab74181158fb2f0f0d9eada16909507ed513a20867478cf3bbdd43?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bd7d6331c5ab74181158fb2f0f0d9eada16909507ed513a20867478cf3bbdd43?s=96&d=mm&r=g","caption":"Trade Brains"},"sameAs":["http:\/\/tradebrains.in\/"],"url":"https:\/\/tradebrains.in\/features\/author\/trade-brains\/"}]}},"_links":{"self":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/105941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/comments?post=105941"}],"version-history":[{"count":4,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/105941\/revisions"}],"predecessor-version":[{"id":105969,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/105941\/revisions\/105969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media\/20722"}],"wp:attachment":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media?parent=105941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/categories?post=105941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/tags?post=105941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}