IOB plans to double operating profits
By Our Banking Bureau | 04 Apr 2002
IOBs performance has
been aided by a reduction of nearly Rs 275 crore in non-performing
assets. Of this, cash recoveries are likely to be of the order of
Rs 190 crore, while the upgradation of accounts will contribute Rs
12 crore.
Bank sources said business volumes (deposits plus advances) will be in the order of Rs 48,000 crore. Incremental loans in the last fiscal were in the order of nearly Rs 2,000 crore, of which nearly Rs 370 crore have been given to the housing sector alone. IOB is not complaining about the slow credit off-take. The capital adequacy of the bank was maintained at 10.24 per cent in end March.
