The lender's interest income was at Rs4,442cr for the period compared to Rs4,556cr a year ago same period. As for total income, it stood at Rs5,537cr versus Rs5474cr in Q4FY19.
Key highlights of the financial performance are:
CASA improved to 40.26% (Domestic 40.67%) as on March 2020, against 38.30% (Domestic 38.72%) as on March 2019 with yoy growth of 196bps.
Total CASA has increased from Rs85,227cr of FY19 to Rs8,9751cr of FY20. Savings Bank registered 6.96 yoy growth as on March 2020.
Total business stood of Rs3,57,723cr in FY20 against Rs3,74,530cr in FY19.
Total deposits increased to Rs2,22,952cr as on March 2020 compared to Rs2,22,534cr as on March 2019. The bank has reduced the concentration of Bulk Deposits and high-cost deposits and increased retail Term Deposits to have a stable and sustainable deposit profile and reduce the cost of funds.
Gross Advances were at Rs1,34,771cr in FY20 against Rs1,51,996cr of FY19. IOB has evolved a policy of not taking fresh exposures in stressed sectors, below hurdle rated accounts and BB and below rated accounts. The bank has also exited from accounts in stressed sectors wherever feasible.
Recovery in NPA accounts for the year was at Rs21,430cr of FY20 compared to Rs14,669cr of the previous fiscal.
Provision coverage ratio stood at 71.39% as on March 2020.
Gross NPA was at Rs19,913cr as on March 2020, from Rs33,398.12cr in Q4FY19. In percentage terms, the gross NPA was at 14.78% versus 21.97% of Q4FY19.
In the previous trading session, the IOB share was at Rs11.99 per piece.