Online edition of India's National Newspaper
Thursday, Oct 27, 2005
Online edition of India's National Newspaper Thursday, Oct 27, 2005 |
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Business
Corporate Reporter
CHENNAI: Indian Overseas Bank increased its business levels by Rs. 6,206 crore during the half year ended September 30, 2005 to Rs. 76,721 crore from Rs. 70,515 crore as on March this year , the bank said in a release. In the second quarter ended September 30, 2005, the net profit of the bank rose to Rs. 198.49 crore from Rs. 158.34 crore in the year-ago period. Total income went up to Rs,. 1,250.32 crore from Rs. 1,183.25 crore. Interest income improved by Rs. 93 crore to Rs. 1,076 crore from Rs. 982 crore. The profit before provisions and contingencies stood at Rs. 383.36 crore against Rs. 401.23 crore. The core operating profit for the three months under reference was Rs. 292.13 crore against Rs. 226.62 crore registering a rise of 29 per cent. In the half year ended September 2005 the average cost of deposits came down to Rs. 4.70 crore from 4.92 per cent in the same period in the previous year. The bank is set cross Rs. 100,000 crore mark in business in 2006-07.
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