Indian Overseas Bank announced Q2FY25 results Financial Highlights: Total Business saw a significant year-on-year (YoY) growth of 12.20%, reaching Rs 5,40,801 crore, up from Rs 4,82,006 crore. Total Deposits rose by 13.75% YoY to Rs 3,10,652 crore. Gross Advances increased by 10.16% to Rs 2,30,149 crore. Operating Profit grew substantially by 26.89% YoY to Rs 2,128 crore, up from Rs 1,677 crore. Net Profit also saw a notable increase, rising by 24.32% YoY to Rs 777 crore. Strong Asset Quality and Profitability: IOB has demonstrated exceptional progress in reducing non-performing assets: Gross NPA Ratio decreased by 202 basis points (bps) to 2.72% from 4.74% a year ago. Net NPA Ratio improved by 21 bps to 0.47% from 0.68% YoY. Provision Coverage Ratio (PCR) improved to 97.06%, reflecting an increase of 30 bps YoY. The Return on Assets (ROA) for Q2FY25 reached 0.82%, showing an improvement of 7 bps from the previous year, while Return on Equity (ROE) increased to 16.90%, up by 74 bps YoY. Income and Margin Growth: IOB’s income generation remained strong: Total Income increased by 22.34% YoY to Rs 8,484 crore. Interest Income grew by 17.69% YoY to Rs 6,851 crore. Non-Interest Income saw an impressive YoY growth of 46.59%, reaching Rs 1,633 crore. Additionally, the Net Interest Margin (NIM) stood at 3.08% for the quarter Capital Adequacy: The bank’s Capital Adequacy Ratio (CRAR), under Basel III, remained robust at 17.45%, with a Tier I component of 14.75%. CASA and CD Ratios: CASA deposits improved by 10.61% YoY, totaling Rs 1,31,856 crore, with a CASA ratio of 42.44% as of September 30, 2024. The Credit to Deposit (CD) Ratio stood at 74.09% for the quarter. Result PDF