IOB reports 5.37 per cent growth

The total income rose 27 per cent to Rs 3,134.20 crore during the March quarter,from Rs 2,467.95 crore in the corresponding period a year-ago.

The board has declared a dividend of 45 per cent at the rate of Rs 4.50 a share,on shares of face value of Rs 10,for the financial year ended March 2009.

During the quarter,the bank8217;s interest income grew 22 per cent to Rs 2,511.50 crore and the interest expended was at Rs 1,807.40 crore,up 26 per cent over the same period last year.

The bank8217;s total business at the end of March 31,2009 stood at Rs 1,75,925.43 crore,a 21 per cent growth over the previous fiscal.

For the financial year ended March 2009,IOB posted a net profit of Rs 1,325.79 crore,a 10.27 per cent growth over the year-ago period. The bank had a net profit of Rs 1,202.34 crore in FY8217;08.

The total income rose 28 per cent to Rs 11,168.73 crore at the end of March 31,2009. Shares of IOB closed at Rs 68.70,up 6.84 per cent on the BSE.