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IOB posts 25 p.c. rise in net profit
Corporate Reporter
CHENNAI: Indian Overseas Bank has registered a total business of Rs. 1,29,628.48 crore in the six months ended September 30, 2007, against Rs. 98,159.06 crore in the corresponding period in the previous year, a growth of 32.1 per cent. The bank recorded a total income of Rs. 4,012.57 crore against Rs. 2,675.21 crore, a growth of 49.9 per cent on a year on year basis. Interest income has risen to Rs. 3,776.52 crore from Rs. 2,613.01 crore.
37 p.c. rise in deposits
The operating profit has improved by 52 per cent to Rs. 867.20 crore from Rs. 570.36 crore and the net profit by 24.6 per cent to Rs. 588.20 crore from Rs. 471.89 crore. Deposits grew by 37.3 per cent to Rs. 78,282.83 crore from Rs. 57,018.04 crore and advances by 24.8 per cent to Rs. 51,345.65 crore from Rs. 41,141.02 crore in the period under reference.
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