Indian Overseas Bank declares Q3FY18

Indian Overseas Bank has declared Q3FY18 results. The performance highlights for the quarter ended December 31, 2017.  The bank registered a total business increased to Rs. 3,68,128 crore as on December 31, 2017 as against Rs. 3,64,736 crore as on December 31, 2016.  Total deposits increased to Rs. 2,16,592 crore as on 31st December 2017 as against Rs. 2,10,861 crore as on 31st December 2016. The Bank has reduced the concentration of Bulk Deposits and increased Retail Term Deposits to have a stable deposit profile and reduce the cost of funds. Top Line – milestones Rs. crores: Deposits Rs. 2,16,592: Advances Rs. 1,51,536: Business Mix Rs. 3,68,128: CASA Rs. 76,526: CASA Ratio 35.33: Bottom Line (Rs.Crores): Operating Profit Rs. 685 (3M): Net Loss Rs. 971 (3M): Provisions Rs. 1656 (3M): Rs. 5193 (9M): Operating Profit Rs. 2500 (9M): Net Loss Rs. 2693 (9M): Gross NPA Rs. 33,267 (21.95%): Net NPA Rs. 17,761 (13.08%).