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Indian Overseas Bank profit surges 49%
Net profit of Indian Overseas Bank (IOB) grew 49 per cent YoY and stood at ₹1,659 crore for the quarter ended June 2026 (Q1FY27) driven by growth of net interest income, higher recoveries, and lower tax expense. Asset quality of the public sector bank also improved. Net interest income (NII) increased by 34.3 per cent YoY to ₹3,688 crore in Q1FY27.
IOB profit soars 49% to ₹1,659 cr
State-owned lender Indian Overseas Bank (IOB) on Monday reported a 49.3 per cent year-on-year jump in net profit to ₹1,659 crore in the three months ended June 2026, driven by improved asset quality. The bank had earned a net profit of ₹1,111 crore in the corresponding quarter last year. Total income rose to ₹10,938 crore during the April-June period from ₹8,866.47 crore a year earlier, the bank said in a stock exchange filing.
Kotak Bank shares drop after Q1 report
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