M Narendra, chairman & MD, IOB, said loss of treasury income of around R400 crore during the quarter led to the fall in profit. "However, considering the difficult economic conditions, the bank has posted a decent performance," he said. The bank's total capital funds stood at R17,745.2 crore. Credit deposit ratio increased to 82.88% from 81.11%, while gross NPAs were at R8,202 crore with a gross NPA ratio of 4.65%.
Narendra said gross NPAs may be viewed from the standpoint of improved cash recovery, upgradation and technical write-offs.