Indian Overseas Bank Reports 20.89% YoY Net Profit Growth in Q3 FY25

Indian Overseas Bank (IOB) has reported its financial results for the quarter and nine months ended December 31, 2024.

Q3 FY 2025 Financial Highlights 

For Q3 FY25, the bank recorded a net profit of ₹874 crore, reflecting a 20.89% year-on-year (YoY) growth from ₹723 crore in Q3 FY24. Operating profit also showed a rise, increasing by 27.30% to ₹2,266 crore from ₹1,780 crore in the same period last year.

Total income for the quarter rose by 13.07%, reaching ₹8,409 crore compared to ₹7,437 crore in Q3 FY24. Interest income grew by 15.16%, reaching ₹7,112 crore, while net interest income (NII) grew by 16.30% to ₹2,789 crore, up from ₹2,398 crore in Q3 FY24.

Other Key Highlights

The bank also showed improvement in asset quality. As of December 31, 2024, the gross non-performing assets (GNPA) ratio improved to 2.55%, down from 2.72% in the previous quarter and 3.90% in Q3 FY24. The net non-performing assets (NNPA) ratio stood at 0.42%, an improvement from 0.47% in Q2 FY25 and 0.62% in Q3 FY24.

In terms of business growth, IOB saw a 9.82% increase in total business, which reached ₹5,42,753 crore compared to ₹4,94,209 crore a year ago. The bank’s total deposits increased by 9.74% to ₹3,05,121 crore from ₹2,78,046 crore as of December 31, 2023.

On January 21, 2025, Indian Overseas Bank share price (NSE: IOB) opened at ₹52.39, almost the same as its previous close of ₹52.52. At 11:43 AM, the share price of IOB was trading at ₹51.65, down by 1.66% on the NSE.

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