public The sector’s Indian Overseas Bank (IOB) released its financial results on Wednesday. The government bank said that in the third quarter of the current financial year, its net profit increased by 56.2 percent to Rs 1365 crore. This big jump in the bank’s profit has come due to reduction in bad loans and improvement in the core business. This Chennai-based government bank had earned a net profit of Rs 874 crore in the same quarter a year ago. In the information given to the stock market, IOB said that during the third quarter of the current financial year, its total income increased to Rs 9672 crore from Rs 8409 crore in the third quarter of last year.
Bank earned interest income of Rs 3299 crore in December quarter
Operating profit of Indian Overseas Bank also increased to Rs 2603 crore from Rs 2266 crore in the December quarter of the last financial year. Apart from this, the interest income of the bank also increased from Rs 7112 crore to Rs 8172 crore. The bank’s net interest income increased by 18 percent to Rs 3299 crore in the third quarter of the financial year 2025-26, from Rs 2789 crore in the third quarter of the financial year 2024-25. On the asset quality front, the bank’s gross non-performing assets (NPAs) declined to 1.54 per cent of total loans by the end of December 2025, from 2.55 per cent a year ago. Similarly, net NPA or bad loans came down to 0.24 percent.
Public sector bank shares closed with gains on Wednesday
There was a decent rise in the shares of Indian Overseas Bank on Wednesday. Today, shares of this public sector bank closed at Rs 36.10 with a rise of Rs 0.65 (1.83%) on BSE. However, the current price of the bank’s shares is much lower than its 52 week high and close to its 52 week low. The 52 week high of Indian Overseas Bank shares is Rs 54.45 and 52 week low is Rs 33.01. According to BSE data, Indian Overseas Bank shares have been witnessing a continuous decline for the last 2 years. However, this time due to excellent results, intense action may be seen in the coming days.
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