Page 2 - Iob

IOB banks on resolution of NCLT cases to cut swelling NPAs

The public sector bank has a total exposure of Rs 82 billion under NCLT in 24 accounts

IOBOA backs move to set off accumulated loss against share premium account

Indian Overseas Bank Officers'Association (IOBOA), the officers' trade union in IOB, has extended support to the managements decision of balance sheet management by setting off the accumulated loss with the share premium amount. The move is aimed at giving out a fair, true and clearer picture of bank's balance sheet, which will infuse confidence in the minds of investors, it said. "The move will also benefit the customer and it is shortening the time limit for dividend delcaratiion by the bank as we are able to see the light at the end of the Tunnel with regard to earning profit," said the organisation in a statement. It may be noted that the Bank's move to use the share premium account of Rs 76.50 billion to set off the accumulated losses to the tune of Rs 69.79 billion raised the eye-brows of many."This is a prudent and wisse move in cleansing the Balance Sheet and to have a true picture of the financial poisition of the Bank," said the Association. Consequently IOB will be in a ...

IOB Q2 net loss widens to Rs 765 cr

Gross NPA grew to 21.77% compared to 11% during same quarter of last financial year

Stabilising asset quality prime task: IOB chief

R Subramania Kumar moved to IOB on September 29 to avert a crisis as it would have become a leaderless organisation

IOB and United bank turn headless

Both the banks were both in midst of systematic plans to reduce stress on books and improve recoveries when they were impacted by RBI's Asset Quality Review