InvestorQ : Can you give me your thoughts on the IOB results for the Jun-20 quarter?
Anamika Sodhani made post

Can you give me your thoughts on the IOB results for the Jun-20 quarter?

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Angel dcosta answered.
3 months ago
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IOB reported a standalone net profit of Rs.121 crore for the Jun-20 quarter. This is in sharp contrast to the huge net loss of Rs.342 crore last year. Net interest income or NII grew 9.61% to Rs.1412. Total provisions fell 16% in the quarter.

IOB gross NPAS fell nearly 863 basis points to 13.9%, which is still quite steep while net NPAs at 5.1% was quite encouraging. The bank has seen growth in total advances and deposits in the quarter and that is a good sign. The stock still quotes at just about double digits.

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