- Net income for 1Q is 6.33 billion rupees, marking a 27% increase year-over-year.
- Gross non-performing assets decreased to 2.89% from 3.1% quarter-over-quarter.
- Operating profit stood at 16.8 billion rupees, showing a 24% year-over-year rise.
- Provisions increased to 9.38 billion rupees, a 22% rise quarter-over-quarter.
- Interest income reached 65.4 billion rupees, reflecting a 21% year-over-year growth.
- Interest expense surged to 40.9 billion rupees, up by 32% year-over-year.
- Other income climbed to 10.2 billion rupees, posting a 27% year-over-year increase.
- Coverage ratio for non-performing loans slightly improved to 97% from 96.9% quarter-over-quarter.
A look at Indian Overseas Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Indian Overseas Bank, with a solid Growth score of 4, appears to have a promising long-term outlook. This indicates that the company is expected to experience significant growth opportunities in the future. Coupled with a Resilience score of 3, the company seems well-equipped to withstand challenges and navigate fluctuations in the market.
Although the Dividend score is lower at 1, suggesting the company may not be prioritizing dividends for its shareholders, the overall picture is balanced with a Value score of 3 and Momentum score of 3. This mix of scores implies that Indian Overseas Bank holds potential for steady value appreciation and sustainable momentum in the market.
Overall, the company’s profile as a banking entity operating numerous branches in India and abroad, offering a wide range of services including loans, deposits, and digital banking, positions it well for growth and resilience in the competitive banking industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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