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During the time under review, the bank also exited the RBI's Prompt Corrective Action (PCA) programme.
The state-owned Indian Overseas Bank (IOB) announced on Wednesday that its net profit for the July-September quarter of this fiscal year increased by more than two-fold to Rs 376 crore, compared to Rs 148 crore the previous year.
During the reported period, the bank also exited the RBI's Prompt Corrective Action (PCA) framework.
The bank stated in a regulatory statement that total income for the quarter ending September was Rs 5,376 crore, down from Rs 5,431 crore a year ago.
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The bank's asset performance was strong, with net non-performing assets (NPA) declining to 2.77 percent of net loans as of September 30, 2021, compared to 4.30 percent a year ago.
"Net NPA is now at 2.77 percent."