Home >Industry >Banking >Indian Overseas Bank reports standalone Q4 net profit at 143.79 Cr
Chennai-based Indian Overseas Bank's Connaught Place branch.
Chennai-based Indian Overseas Bank's Connaught Place branch.

Indian Overseas Bank reports standalone Q4 net profit at 143.79 Cr

  • The bank had reported a net loss at 1,985.16 crore during corresponding quarter previous year.
  • As of March 31, 2020, total income of the bank was at 20,712.48 crore as against 21,837.58 crore registered previous year.

Public sector Indian Overseas Bank on Thursday, reported standalone net profit at 143.79 crore for the January-March 2020 quarter.

The city-headquartered bank had reported a net loss at 1,985.16 crore during corresponding quarter previous year.

For the year ending March 31, 2020, net loss of the bank stood at 8,527.40 crore as against a net loss of 3,737.88 crore recorded in the same period last fiscal, Indian Overseas Bank said in a BSE filing.

Total income for the quarter under review stood at 5,484.06 crore as against 5,473.92 crore registered in the same period last fiscal.

For the full year ending March 31, 2020, total income of the bank was at 20,712.48 crore as against 21,837.58 crore registered previous year.

During the financial year ending March 31,2020, the bank said it successfully raised Basel III Compliant Tier II Bonds Series III to the tune of 500 crore.

This story has been published from a wire agency feed without modifications to the text.

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