IOB

IOB has Q4 Net Profits at Rs350 Crore

Indian Overseas Bank, State-owned witnessed a major increase in the profits after tax and reached Rs350 crore. It is basically due to the higher growth in other income & improvement in the asset quality. According to the Managing Director & CEO” There is a significant improvement in all the financial parameters but our Asset Quality has witnessed a major declination.” Bank has revealed a yearly net profit of Rs831 crore for the year ended March 31. In FY21 it witnessed a loss of Rs 8,527 crore.