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Indian Overseas Bank Q2 profit declines

Posted on Oct 30, 07:40AM | UNI

The Indian Overseas Bank (IOB) today said that its net profit for second quarter ended September 2012 declined to Rs 158.43 crore from Rs 207.46 crore during the corresponding period of the previous year.

Talking to reporters here, bank chairman M Narendran said that their business grew by 17.80 per cent from Rs 2,90,744 crore to Rs 3,42,508 crore year-on-year (YoY).

Total gross advances increased by 20.62 per cent from Rs 1,27,166 crore to Rs 1,53,393 crore YoY, he added.