Conference Call with Indian Overseas Bank Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Indian Overseas Bank announced Q1FY25 results: Total Business grew by 16.04% to Rs 5,28,773 crore from Rs 4,55,664 crore. Total Deposits up by 12.96% to Rs 2,98,681 crore from Rs 2,64,401 crore. Gross Advance increased by 20.30% to Rs 2,30,092 crore from Rs 1,91,263 crore. Gross Investments increased to Rs 1,03,029 crore from Rs 95,328 crore. Operating Profit grew by 24.61% to Rs 1,676 crore from Rs 1,345 crore. Net Profit up by 26.60% to Rs 633 crore from Rs 500 crore. Gross NPA Ratio stood at 2.89% as on 30.06.2024 as against 7.13% as on 30.06.2023, with a reduction of 424 bps. Net NPA Ratio stood at 0.51% as on 30.06.2024 as against 1.44% as on 30.06.2023, with a reduction of 93 bps. CASA improved to Rs 1,25,947 crore from Rs 1,16,694 crore, reflecting YoY growth of 7.93 % CASA Ratio stood at 42.17% for the quarter ended 30 June, 2024 Credit to Deposit (CD) Ratio improved to 77.04% registering an improvement of 470 bps. Net Interest Margin stood at 3.06% for the quarter ended 30 June, 2024. Provision Coverage Ratio improved to 96.96%, registering an improvement of 293 bps. CRAR improved to 17.82% of which Tier I is 14.99%, registering an improvement of 126 bps. Return on Assets (ROA) improved to 0.70%, registering an improvement of 8bps. Return on Equity improved to 14.10% from 13.44% over corresponding period of last year. Result PDF