Online edition of India's National Newspaper
Saturday, Jul 28, 2007
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Online edition of India's National Newspaper Saturday, Jul 28, 2007 ePaper |
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Corporate Reporter
CHENNAI: Indian Overseas Bank has reported a total business of Rs. 1,18,814 crore as on June 30, 2007 against Rs. 91,116 crore in the year ago period. Addressing presspersons here on Friday S. A. Bhat, Chairman and Managing Director of the bank, said aggregate deposits grew by 31.9 per cent to Rs. 70,204 crore from Rs. 53,225 crore while gross advances rose by 28.3 per cent to Rs. 48,610 crore from Rs. 37,891 crore. The total income has risen by 58.1 per cent to Rs. 1,907.79 crore in the three months ended June 30, 2007 from Rs. 1,206.67 crore in the year ago period with net interest income rising by 23.2 per cent to Rs. 709 crore from Rs. 575 crore. However the net interest margin had come down to 3.71 per cent from 4.01 per cent due to pressure on margins, Mr. Bhat said. The net profit rose by 21 per cent to Rs. 268.49 crore from Rs. 222.04 crore, Mr. Bhat sadi.
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