From Financialexpress · Narayanan V · · 1m
IOB Q2 Profit Surges 56% to Rs 1,912 Crore
IOB boosts Q2 profit by 56% to ₹1,912 crore, raising FY27 growth target.
In brief
IOB boosts Q2 profit by 56% to ₹1,912 crore, raising FY27 growth target. Indian Overseas Bank reported 56% year-on-year Q2 FY27 net profit growth to ₹1,912 crore, raising FY27 growth guidance to 20%-21%. Originally reported by Financialexpress.
IOB Q2 Profit Jump
Indian Overseas Bank reported 56% year-on-year rise in Q2 FY27 net profit to ₹1,912 crore.
Profit Drivers
Strong interest income growth, lower expenses, and improved asset quality boosted profitability.
Credit Growth
Gross advances rose 24.35% year-on-year to ₹3.45 lakh crore, driven by retail, agriculture and MSME loans.
CASA Deposits
CASA deposits rose 21% to ₹1.65 lakh crore, with 140 million new customers over three years.
Asset Quality
Gross NPAs declined to 1.19% in September from 1.33% in the previous quarter.
Growth Guidance
IOB raised FY27 growth target to 20%-21% credit and deposits amid festive season.
Here's the gist
Indian Overseas Bank reported 56% year-on-year Q2 FY27 net profit growth to ₹1,912 crore, raising FY27 growth guidance to 20%-21%.
