Chennai: Indian Overseas Bank (IOB) reported a 49.32% year-on-year rise in net profit to ₹1,659 crore for the quarter ended June 2026, driven by higher net interest income and improved margins.
The Chennai-headquartered public sector lender said its Net Interest Income (NII) grew 34.30% YoY to ₹3,688 crore during the quarter. Asset quality and pricing power reflected in margins, with Domestic NIM improving to 3.48% and Global NIM at 3.37%.
Total business of the bank rose 17.72% to ₹6,98,325 crore. Deposits grew 13.72% to ₹3,76,193 crore, led by a strong 18% growth in savings bank deposits to ₹1,27,262 crore.
IOB also expanded its physical presence, adding 28 new branches during the quarter. The bank’s domestic branch network now stands at 3,522 branches.
The results indicate continued momentum in core lending and low-cost deposit mobilisation for the bank in the first quarter of FY27.
