IOB''s Q2 net profit up 75%
By Our Economy Bureau | 22 Oct 2003
New
Delhi: Indian Overseas Bank (IOB) has registered a
net profit of Rs 154.62 crore for the quarter ended 30
September 2003, a 75 per cent growth over Rs 87.97 crore
achieved during the previous corresponding period.
The operating profit stood at Rs 350 crore as against Rs 201 crore for the previous period. For the half-year, IOB''s net profit has shown an 82-per cent rise at Rs 293 crore over the previous year''s Rs 160.93 crore. The operating profit for the half-year stood at Rs 622.61 crore (Rs 359.76 crore).
IOB chairman and managing director S C Gupta says the bank''s total business crossed Rs 58,000 crore during the half-year ended 30 September. Total deposits increased from Rs 36,699 crore on March 2003 to Rs 38,809 crore on 30 September. Advances grew from Rs 18,431 crore to Rs 19,804 crore.