IOB Results

Slippages at Rs 1,556 crore, out of which Rs 200 crore was in education sector

Total income down 6% to Rs 5,024 crore; bad loans shrink

Lender's NPA ratios improve, recoveries surpass slippages during the quarter

Indian Overseas Bank (IOB) has said that around 46 per cent reduction in the net loss during the second half of the current fiscal is an indication that the actions taken by the Bank is giving results.Net loss for the year ended March 31, 2017 is Rs 3,417 crore as against Rs 2897 crore for the year ended March 31, 2016 with net loss decreasing by 46 per cent in second half of Fiscal 17 over first half of fiscal 2017 is indicative of the significant actions being taken to transform the Bank, said R Subramaniakumar, MD & CEO, Indian Overseas Bank.IOB, which has been in the Regulator's radar for high NPA, said as at March 31, 2017 Gross NPA is at Rs 35,098 crore with ratio of 22.39 per cent as against Rs 30,049 crore as on March 31, 2016 with ratio of 17.40 per cent. One of the reasons for higher Gross NPA ratio is the contraction of credit by 9.23 per cent y-o-y.Recovery in NPA accounts for the year ended March 31, 2017 was higher at Rs 8,710 crore as against Rs 5,872 crore in ..