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Indian Overseas Bank (IOB) had several quarters of very high non-performing loans (NPLs) and rising NPLs but the important part about the Q3 results was that asset quality improved and we saw a fall in the gross and the net non-performing assets (NPA). In an interview with CNBC-TV18, R Subramaniakumar, MD and CEO of IOB spoke about the results and his outlook for the company.
The bank's slippages in the June quarters stood at Rs 5,330 crore and the restructured book at Rs 14,000 crore, says Atul Agarwal, ED, IOB.
Maintaining its cautious view, global rating agency Moody's recently said that it remains negative on Indian banks on the back of high leverage in the corporate sector.
In an interview with CNBC-TV18‘s Latha Venkatesh, the bank‘s chairman M Narendra spoke about its financials, strategy going forward and how the bank is focused on bringing down its non-performing assets.
The bank‘s net interest margin (NIM) on the domestic front has improved from 2.30 percent to more than 2.48 percent.
Indian Overseas Bank, whose net profit in January-March tumbled 89 percent on year on sharp spike in provision expects the non-performing assets to come down going forward on restructuring of loans.
Kotak Securities has come with its March`13 quarterly earning estimates for banking & NBFCS sector. The research firm expects fresh slippages to remain stable QoQ with positive bias for banks under their coverage.
Answering a query on slippages, M Narendra, chairman, IOB told CNBC-Tv18 that going forward our slippage will be moderated. “Overall, we will ensure that the slippage will be brought down to the minimum in this immediate quarter and next quarter,†he asserted.
Dolat Capital has come with its September`12 quarterly earning estimates for financial sector. According to the research firm banks‘ asset quality would remain under stress particularly for state-owned banks.
Angel Broking has come with its September`12 quarterly earning estimates for banking sector. According to the research firm banking stocks remained under stress on increased asset quality concerns.
Dolat Capital has come with its June quarterly earning estimates for banking sector. According to the research firm, banks are likely to post 27% YoY growth in PAT for Q1FY13.
Angel Broking has come out with its June quarterly earning estimates for banking sector. The research firm expects margins to come under pressure in 1HFY2013.
Angel Broking has come with its March quarterly earning estimates for banking sector.
Angel Broking has come with its quarterly earning estimates for banking sector.
Indian mid-cap firms are on course to post higher profits in the last quarter of FY11, despite an increase in prices of raw materials such as crude oil and steel, as volume growth and robust demand keep revenue momentum buoyant.
Angel Broking has come out with its earning estimates on banking sector for the quarter ended December 2010. According to the research firm, Indian Overseas Bank December quarter operating income are expected to go up by 17.5% to Rs 1237 crore, Year-on-Year, (Y-o-Y) basis.
Karvy Stock Broking has come out with its earning estimates on banking sector for the quarter ended December 2010. According to the research firm, Indian Overseas Bank (IOB) December quarter net interest income (NII) are expected to go up by 23.9 % to Rs 984.6 crore, Year-on-Year, (Y-o-Y) basis.