Interest Income jumped 20.44% to Rs 5,056 crore in Q3 FY23 as against Rs 4,198 crore in Q3 FY22. Net interest margin stood at 3.27% as on 31 December 2022 as against 2.40% as on 31 December 2021.

Total business stood at Rs 4,32,530 crore as on 31 December 2022, up 9.38% from Rs 3,95,434 crore as on 31December 2021. Total Deposit rose 4.19% to Rs 2,57,480 crore in Q3 FY23 as against Rs 2,47,118 crore in Q3 FY22.

CASA ratio stood at 44.75% in Q3 FY23 as against 42.53% in Q3 FY22. Total CASA increased by 9.03% to Rs 1,14,591 crore in Q3 FY23 as compared with Rs 1,05,105 crore in Q3FY22.

Gross advances during the quarter stood at Rs 1,75,050 crore, jumped 18.03% from Rs 1,48,316 crore in corresponding quarter last year. 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.

During the quarter, Gross non performing assets (NPA) stood at Rs 14,333 crore, down 7.09% as against Rs 15,426 crore in corresponding quarter last year.

Gross NPA ratio stood at 8.19% as on 31 December 2022 as against 10.40% as on 31 December 2021. Net NPA ratio stood at 2.43% as on 31 December 2022 as compared with 2.63% as on 31 December 2021.

Provision Coverage ratio stood of 91 .34% as on 31 December 2022 as against 92.33 % as on 31 December 2021.

As on 31 December 2022, capital adequacy ratio (CRAR) was at 15.16% (with Tier I at 12.66% and CET I at 12.66% as per Basel lll norms)

Indian Overseas Bank is engaged in the business of banking & financial services.