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Q4 - Financial results of Indian Overseas Bank

• Net Profit for FY 2021-22 has been doubled i.e. from Rs.831 crore (31.03.2021) to Rs.1,709 crore (31.03.2022).
• Profit for the quarter ended 31.03.2022 recorded at Rs.552 crores as against Rs.454 crores for the quarter ended 31.12.2021.
• Net NPA has stood at 2.65% which is within prescribed RBI guidelines.
• During the quarter GNPA reduced by Rs.127 crore.  GNPA ratios reduced to 9.82% from 10.40% QoQ
• The provision coverage ratio improved to 91.66 

Performance Highlights for the Financial Year ended March 31, 2022

1. CASA of the Bank improved to 43.44% as on 31^st March 2022 as against 42.52% as on 31^st March 2021. Total CASA has increased from Rs.1,02,165 crores as on 31.03.2021 to Rs.1,13,877 crores as on 31.03.2022, and registered 11.46% over previous year.
2. Total business stood at Rs.4,17,960 crore as on 31^st March 2022 as against Rs.3,79,885 crore as on 31^st March 2021 (Increase of 10.00%).
3. Total deposits increased to Rs.2,62,159 crore as on 31^st March 2022 as against Rs.2,40,288 crore as on 31^st March 2021. The Bank has reduced the concentration of Bulk Deposits and high cost deposits and increased Retail Term Deposits to have a stable and sustainable deposit profile and reduce the cost of funds.
4. Gross Advances stood at Rs.1,55,801 crore as on 31^st March 2022 as against Rs.1,39,597 crore as on 31^st March 2021. The Bank has evolved a policy of not taking fresh exposures in stressed sectors, below hurdle rated accounts and BB and below rated accounts. The Bank has also exited from accounts in the stressed sectors, wherever feasible.
5. Operating Profit for the year ended 31.03.2022 stood at Rs.5,763 crore as against of Rs.5,896 crore on 31.03.2021.
6. Total income for the year ended 31.03.2022 stands at Rs.21,633 crore as against Rs.22,525 crore for the previous year.
7. Interest income stands at Rs.16,730 crore for the year ended 31.03.2022.
8. Other income stands at Rs.4,903 crores for the year ended 31.03.2022.
9. Total Expenditure stands at Rs.15,870 crore for the year ended 31^st March 2022 which is reduced as against Rs.16,629 crores for the year ended 31^st March 2021.
10. Recovery in NPA accounts for the year ended 31.03.2022 is Rs.1,385.82 crores.  

• GNPA reduced from 11.69% as at March ’21 to 9.82% as at March ’22.
• NNPA reduced from 3.58% as at March ’21 to 2.65% as at March’22
• Provision Coverage Ratio (PCR) improved from 90.34% as at March ’21 to 91.66% as at March ‘22

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