Indian Overseas Bank Reports Record Q3 Profit Amid Loan Growth and Asset Quality Improvement

Indian Overseas Bank (IOB) reported a record Q3 net profit of ₹1,365 crore, up over 56% year-on-year, driven by strong growth in retail, agriculture, and MSME loans. Advances rose significantly, with retail loans increasing 43% and agri advances 35%. The bank's asset quality improved, with lower gross and net NPA ratios. CEO Ajay Kumar Srivastava noted potential stress if US tariffs extend beyond March but said current exposure remains manageable. IOB plans to raise up to ₹4,000 crore through qualified institutional placement this fiscal.