Indian Overseas Bank News

IOB Q3 net profit up 23%, helped by interest income and credit growth

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

PSBs in focus; UCO Bank, Indian Overseas, Union Bank surge over 5%

Motilal Oswal Financial Services believes that sustained and consistent performance on delivering healthy return ratios can result in further re-rating of the stocks.

Nifty PSU Bank index rebounds 11% in 3 days: PSB, BoB climb up to 5%

At 11:35 am; Nifty PSU Bank index, the top gainer among sectoral indices, was up 2 per cent, as against 0.06 per cent decline in the Nifty50

Stock price of these two PSU banks have zoomed around 150% in last 22 days

In past one month, the stock price of UCO Bank zoomed 151%, while of Punjab & Sind Bank by 147%, as compared to 23% rise in the Nifty PSU Bank index and less than 1% gain in Nifty 50.

IOB Q2 net up 33% to Rs 501 cr, total income rises 15% to Rs 5,852 cr

Gross NPA down 6% during the quarter, net NPA up 11%; ratios improve in both spaces; lender came out of RBI's Prompt Corrective Action (PCA) on September 29, 2021