The public sector lender Indian Overseas Bank (IOB) reported a significant increase in net profit of 49.3 percent year-on-year on Monday. Over the three months ending in June 2026, the bank earned 1,659 crore rupees, which was attributed to an improvement in asset quality.
In the same quarter last year, the bank had recorded a net profit of 1,111 crore rupees. According to the report submitted to the stock exchange system, total income for the period from April to June increased to 10,938 crore rupees compared to 8,866.47 crore rupees the previous year.
The bank's asset quality showed positive momentum. The Gross Non-Performing Assets (GNPA) ratio decreased to 1.33 percent for the June quarter of fiscal year 27, down from 1.97 percent the previous year. Similarly, Net NPA reduced to 0.18 percent from the previous 0.32 percent.
Furthermore, provisions amounted to 834 crore rupees in the quarter under review, which remained almost unchanged compared to 844 crore rupees the previous year, although this is less than the 1,006 crore rupees recorded in the March quarter. At the time of afternoon trading, IOB shares were trading 4.11 percent higher on the BSE, reaching the mark of 35.2 rupees.
IDBI Bank reported the results for the first quarter of the current fiscal year in its regulatory filings. The bank noted an increase in total income to INR 8,573 crore for the June quarter of 2026-27, compared to INR 8,458 crore a year earlier.
During the first quarter of the current fiscal year, the bank demonstrated a 5% increase in net profit, reaching INR 2,115 crore. This exceeds the net profit of INR 2,007 crore earned in the same quarter of the previous fiscal year.
The bank's interest income increased to INR 7,541 crore, whereas it was recorded at INR 7,021 crore in the June quarter of fiscal year 2026. Furthermore, Net Interest Income (NII) rose to INR 3,486 crore, which is 10% more than INR 3,166 crore in the first quarter of last year.
Despite the rise in revenues, the bank's operating profit decreased to INR 2,168 crore compared to INR 2,354 crore a year ago. The Net Interest Margin slightly declined to 3.61%, compared to 3.68% in the April-June period of last year.
The quality of the bank's assets improved: Gross Non-Performing Assets (NPA) decreased to 2.3% of total loans by the end of June, down from 2.93% a year earlier. Similarly, Net NPAs, or bad loans, reduced to 0.16% from 0.21% in the period preceding the year.
The total loan book grew to INR 258,968 crore as of June 30, 2026, which is 22% more than INR 211,907 crore on June 30, 2025. Total deposits increased by 10% to INR 325,757 crore at the end of June 2026, compared to INR 296,782 crore at the end of June 2025.
The Provision Coverage Ratio (PCR) remained unchanged at 99.31% as of June 30, 2026. Meanwhile, Return on Assets (ROA) decreased to 1.89% in June 2026 compared to 2.01% a year earlier.
Axis Bank, the third-largest lender in India, reported on Saturday a 23% year-on-year rise in net profit for the quarter ending June 2026 (Q1FY27). This growth was attributed to a decrease in the volume of provisions and a moderate increase in Net Interest Income (NII).
The bank's Net Interest Income increased by 8% year-over-year, reaching 14,646 crore rupees in the first quarter. Meanwhile, income from other sources decreased by 7% year-over-year, amounting to 6,735 crore rupees. The bank's overall Net Interest Margin (NIM) in Q1FY27 stood at 3.46%, which is lower than the 3.62% recorded in Q4FY26 and 3.80% in Q1FY26.
New write-offs at the bank in Q1FY27 totaled 5,566 crore rupees, higher than the 4,675 crore rupees in Q4FY26, but significantly lower than the 8,200 crore rupees in Q1FY26. Concurrently, the bank's total provisions decreased both sequentially and year-on-year, reaching 2,223 crore rupees in Q1FY27. Provisions were 3,522 crore rupees in Q4FY26 and 3,948 crore rupees in Q1FY26.
The bank's Gross Non-Performing Assets (NPA) ratio slightly increased to 1.28% by the end of Q1FY27, up by 5 basis points sequentially. The Net NPA ratio also rose by 2 basis points to 0.39%. The bank's asset volume grew by 19% year-over-year and 2% quarter-on-quarter, reaching 12.61 trillion rupees in June. Retail loans increased by 8% year-over-year to 6.76 trillion rupees, accounting for 54% of the bank's net assets. The Small and Medium Business (SME) portfolio grew by 25% year-over-year and 3% quarter-on-quarter to 1.52 trillion rupees, while corporate lending increased by 38% year-over-year and 5% quarter-on-quarter. The mid-corporate client portfolio grew by 27% year-over-year and 10% quarter-on-quarter.
The bank's deposits increased by 18% year-over-year, reaching 13.72 trillion rupees. Current and savings account deposits (CASA) grew by 11% year-over-year to 5.21 trillion rupees, and term deposits increased by 23% year-over-year to 8.51 trillion rupees.
The public sector bank Indian Bank, based in Chennai, announced a 10% increase in net profit for the first quarter of the current fiscal year, reaching INR 3,273 crore. In the same quarter of the previous fiscal year, the profit was INR 2,973 crore.
According to the report submitted to the regulator, the bank's total income for the June quarter of 2026-27 increased to INR 20,724 crore compared to INR 18,721 crore in the corresponding period of FY 26. Interest income also improved, amounting to INR 18,090 crore versus INR 16,283 crore a year earlier.
Net Interest Income (NII) grew by 17%, reaching INR 7,435 crore compared to INR 6,359 crore in the June quarter of FY 26. Furthermore, the bank's operating profit rose to INR 5,557 crore from INR 4,770 crore recorded in the same quarter last year.
The bank demonstrated an improvement in asset quality: Gross Non-Performing Assets (NPA) decreased to 1.86% of total loans by the end of June, down from 3.01% a year earlier. Similarly, Net NPAs, or bad loans, reduced to 0.15% compared to 0.18% in the previous year.
As a result of these changes, provisions for bad loans were reduced to INR 376 crore in the first quarter, down from INR 387 crore a year ago. The Provision Coverage Ratio (PCR) remained unchanged at 98.2% during the quarter.
The Return on Assets (ROA) improved to 1.34% for June 2026, whereas it was 1.03% in June 2025. Meanwhile, the bank's capital adequacy ratio decreased to 17.80% from 17.99% in the same quarter of FY 26.
