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IOB Net Profit increased to Rs 454 crore for Quarter ended Dec 31, 2021

During the quarter GNPA reduced by Rs.240 crore. GNPA ratios stands at 10.40% reduced from 10.66% QoQ

IOB Net Profit increased to Rs 454 crore for Quarter ended Dec 31, 2021
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  • Profit for the quarter ended 31.12.2021 recorded at Rs.454 crores as against Rs.376 crores for the quarter ended 30.09.2021. Net NPA has improved to 2.63% which is less than 6.00% prescribed by RBI
  • During the quarter GNPA reduced by Rs.240 crore. GNPA ratios stands at 10.40% reduced from 10.66% QoQ
  • The provision coverage ratio improved to 92.33% as on 31.12.2021 as against 92.00% for the quarter ended 30.09.2021.
  • Total Cash Recovery for December 2021 was Rs.1199.51 crore (includes Recovery from Tech write off of Rs.247.37 crore and sale to ARC of Rs.241.46 crore and Security Receipts) as against Rs.831.77 crore (includes Recovery from Tech write off of Rs.428.61 crore) in September 2021.

Performance Highlights for the Quarter ended December 31, 2020-YoY

1. Net Profit for the quarter ended 31st December 2021 increased to Rs.454 Crore as against Rs. 213 for the quarter ended December 2020. with a Y o Y increase of 1 13%.

2. Operating Profit for the quarter ended 31st December 2021 stood at Rs.1,527 crore as against Rs.1,731 crore for the quarter ended 31st December 2020.

3 Total business stood at Rs.492507 crore as on 31st December 2021 as against Rs.4,58,276 crore as on 31s December 2020 with an increase of 7.47%.

4. Total deposits increased to Rs.247118 crore as on 31st December 2021 as against Rs.234116 crore as on 31st December 2020, with an increase of 5.55%.

5. Gross Advances stood at Rs.148316 crore as on 31st December 2021 as against Rs.1,37,469 crore as on 31st December 2020, with an increase of 7.89%. 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.

6. CASA of the Bank improved to 42.53% as on 31st December 2021 as against 40.93% as on 31st December 2020. Total CASA has increased from Rs.95,830 crores as on 31.12.2020 to Rs.105105 crore as on 31.12.2021, with an increase of 9.68%.

7. Interest income stood at Rs.4198 crores for the quarter ended 31st December 2021 compared to Rs.4244 crores for the quarter ended Dec 2020.

8. Other income for the quarter ended 31s December 2021 stood at 8. Rs.1 186 crore as against Rs.1543 crores for the quarter ended 31st Dec 2020

9 Total income for the quarter ended 31st December 2021 stood at Rs.5383 crore as against Rs.5787 crore for the quarter ended 31st Dec 2020.

10. Total Expenditure reduced to Rs.3856 crores for the quarter ended 31 December 2021 as against Rs.4055 crores for the quarter ended 31st Dec 2020

11. Gross NPA as at 31 December 2021 stood at Rs.15427 crore i.e. 10.45% as against1 Rs.16753 crore i.e. 12.19% as at 31 December 2020. The GNPA reduced by 1.74% on YoY

12. Net NPA is contained to Rs.3587 crore i.e. 2.63% as at 31 December 2021 as against Rs.3905 crore i.e. 3.13% as on 31 December 2020. The NNPA reduced by 0.49% YoY,

13. Total recovery including technical write off stood at Rs.1199.51 Crore for the quarter ended 31s Dec 2021 as against Rs.1056 crore for the quarter ended 31st Dec 2020.

14 Provision Coverage Ratio improved to 92.33% as on 31st December 2021 as against 91.91% as on 31st December 2020

Performance Highlights for the Nine Months ended December 31, 2021

1.Net Profit for Nine Months ended 31.12.2021 increased to Rs.1157 crore as against net profit of Rs.482 crore for the corresponding period of the previous year ended 31.12.2020, with an increase of 140%

2. Operating Profit stood at Rs.4149 crore as on 31.12.2021 against Rs.4172 crore for Nine Months ended 31.12.2020.

3. Interest income stood at Rs.12515 crore for Nine Months ended 31.12.2021 as against Rs.12908 crore for the corresponding period.

4. Interest Income stood at Rs.3399 crore for Nine Months ended 31.12.2021 as against Rs.3543 crore for Nine Months ended 31.12.2020.

5 Total income for Nine Months ended 31.12.2021 stood at Rs.15914 crore as against Rs.16451 crore for the corresponding period.

6. Total Expenditure reduced to Rs.11,765 crore for Nine Months ended 31st December 2021 as against Rs.12,279 crore for Nine INDA Months ended 31st December 2020.

7. Gross NPA reduced to Rs.15427 crore i.e. 10.45% for Nine months ended 31s Dec 2021 as against Rs.16.753 crore i.e. 12.19 % as at 31st December 2020. The GNPA reduced by 1.74% on YoY.

8. Net NPA reduced to Rs.3,587 crore i.e. 2.64% for Nine months ended 31st Dec 2021 as against Rs.3,905 crore i.e. 3.13 % as on 31 December 2020. The NNPA reduced by 0.49 % YoY.

Achievement & Accolades Digitr Awards 2020-21: Bank has been awarded 2nd Position for achieving 2nd highest percentage of digital payment transactions under Small & Micro Public Sector Banks category by Ministry of Electronics &
Information Technology, Government of India.

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