Indian Overseas Bank’s (IOB) Q2 net falls 24%

City-headquartered public sector lender Indian Overseas Bank’s (IOB) net profit for the second quarter of Financial Year 2012-13 dipped 24% to Rs 158.43 crore as against Rs 207.46 crore during the second quarter of FY12 .

Non-performing assets (NPAs) of the bank have been rising. During the second quarter, the bank’s incremental NPAs stood at Rs 1,854 crore as against an incremental NPA of Rs 865.37 crore at the end of the first quarter of FY13.

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