Indian Overseas Bank
Indian Overseas Bank News
Indian Overseas Bank Q4 net loss narrows 45 per cent to Rs 1,985.16 crore
The bank has attributed the loss to increased provisions on NPAs and fraud accounts especially due to backdating of NPAs — with one big account being declared as fraud.
Recovery rate of NPA write-offs falling, UCO Bank draws a blank
Banks typically write off NPAs after four years for fully provisioned accounts. However, banks continue to pursue various recovery steps to get back whatever portion of their loan outstanding they can from the borrowers.
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RBI slaps Rs 3-crore penalty on Axis Bank, Rs 2 crore on Indian Overseas Bank
The central bank said it had carried out a statutory inspection of private sector player Axis Bank with reference to its financial position as on March 31, 2016.
Indian Overseas Bank net loss rises 75 per cent to Rs 971 crore in Q3
Addressing media persons, R Subramaniakumar, MD & CEO, said the bank posted the loss in Q3 due to high provisions towards NPAs.
IOB says move to adjust losses aimed at offering clarity
The bank clarified that the move will not impact its equity capital structure. On the benefit side, IOB would be in a position to declare dividends sooner, with a clean balance sheet, as the bank had posted 29 per cent growth in operating profit in the second quarter.
Mounting bad loans treble IOB losses
IOB’s net interest margin of the bank declined to 1.93 per cent in the December quarter. Total business of the bank stood at Rs 4.10 lakh crore at the end of third quarter of the current fiscal.
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Indian Overseas Bank opens all-woman branch
Neetika Sinha, branch manager of the new branch, said that this was a step towards women empowerment through financial inclusion.
Take stern measures against wilful defaulters: FM to banks
Chidambaram said banks are yet to finalise the amount of retained profit they will infuse as additional capital.
Short Change: RBI may hike interest rate this week,MSF rate cut likely
Worsening price situation may prompt the Reserve Bank to raise interest rate by 0.25 per cent.
Bad loans: Public sector banks choosing recovery over write-offs
State Bank group's loan recovery maximum in Q2 while Bank of India writes-off most.
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