Indian Overseas Bank’s net loss has widened to ₹765 crore for the quarter ending September 30, from ₹551 crore in the same quarter last year.
Sequentially, the loss was lower than the ₹1,450 crore reported in the first quarter of this year.
Total income in the second quarter declined 12 per cent to ₹5,962 crore (₹6,770 crore).
Gross non-performing assets (GNPAs) stood at ₹34,724 crore (21.77 per cent of total advances) against ₹33,913 crore (20.48 per cent) in the previous quarter.
Recovery in NPA accounts for the half year ending September 30 was ₹3,534 crore and during the second quarter it was ₹2,069 crore, said a press release from the bank.
Capital adequacy ratio was 10.15 per cent. The bank issued tier-II bonds for ₹800 crore during the first week of November which will improve the capital adequacy ratio, a release from the bank said.
Additional chargeThe bank, in an announcement to the BSE, said that R Subramaniakumar, Executive Director of the bank, will hold additional charge as Managing Director and CEO with immediate effect.
On the BSE, the bank’s shares closed at ₹25.95, down 2.81 per cent.