- IOB’s net income increased by 24% year-over-year, reaching 7.77 billion rupees.
- Gross non-performing assets improved slightly to 2.72% from the previous quarter’s 2.89%.
- The operating profit showed a significant increase of 27% year-over-year, amounting to 21.3 billion rupees.
- Provisions saw a rise of 23% quarter-over-quarter, totaling 11.5 billion rupees.
- Interest income rose by 18% year-over-year to 68.5 billion rupees.
- Interest expenses increased by 24% year-over-year, reaching 43.1 billion rupees.
- Other income surged by 47% year-over-year, amounting to 16.3 billion rupees.
- IOB’s share price increased by 2.9% to 56.20 rupees, with a trading volume of 8.95 million shares.
- No analyst ratings of buys, holds, or sells were reported.
A look at Indian Overseas Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 2.6 |
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
Analysts at Smartkarma have assigned Indian Overseas Bank with a 1-5 Smart Score indicating the overall outlook for the company. With a Growth score of 4, the bank demonstrates strong potential for expanding its operations and increasing its market presence in the long term. This suggests that Indian Overseas Bank may be well-positioned for future growth opportunities and could attract investors looking for companies with positive growth prospects.
On the other hand, the Dividend score of 1 indicates a lower level of dividend payment by the company. However, the Resilience score of 3 suggests that Indian Overseas Bank has demonstrated a moderate level of resilience in facing economic challenges. The Value score of 3 further implies that the company’s stock may be trading at a fair valuation. Overall, while the Momentum score of 2 might be lower, the stronger scores in Growth and Resilience indicate a positive long-term outlook for Indian Overseas Bank.
Summary: Indian Overseas Bank operates some 1,429 banking branches in India, as well as six branches in overseas locations. The Group’s banks provide loan and deposit schemes, Internet banking, and a full range of banking services.
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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