Indian Overseas Bank Q1 FY27 Net Profit Surges 49.32% to ₹1,659 Cr

Indian Overseas Bank (IOB) reported a significant 49.32% year-on-year jump in net profit to ₹1,659 crore for the first quarter ended June 30, 2026. Operating profit rose by 14.21% to ₹2,693 crore, driven by a 34.30% increase in Net Interest Income (NII) to ₹3,688 crore. The bank's total business grew by 17.72% to ₹6,98,325 crore, with total deposits increasing by 13.72% to ₹3,76,193 crore and total credit growing by 22.75% to ₹3,22,132 crore. Key performance indicators showed improvement, with Gross NPA reducing to 1.33% and Net NPA to 0.18%. The Provision Coverage Ratio (PCR) increased to 97.67%, and CRAR improved to 19.36%. The bank also expanded its branch network to 3,522 branches.