Public sector lender Indian Overseas Bank (IOB) on Friday reported a net loss of `346.02 crore for the third quarter of FY19 compared to `971.17 crore loss logged in the same quarter of the last fiscal, reducing the loss by 64.37%. Total income of the Chennai-based bank registered an increase of 12.39% at `5,689 crore against `5,062 crore for the quarter ended December 31, 2017, said a press release issued by the bank. On the asset quality front, gross NPA stood at `35,787 crore with ratio of 23.76% against `33,267 crore with ratio of 21.95%. The net NPA was at `17, 988 crore with ratio of 13.56% against `1,7761 crore. The bank said the provision coverage ratio has improved to 64.23% from 57.83%. Total recovery registered an increase of 23.24% to `3,723 crore for the quarter against the recovery of `3,021 crore while the total fresh slippage stood at `1,790 crore. Recovery achieved is substantially higher than slippages during the quarter mainly due to focused priority action on arresting slippages and improving recovery in NPA\/OTS accounts. The bank has recovered `121 crore in NCLT accounts during the quarter. Further, the bank expects recovery aggregating to `988 crore in the current quarter in 8 NCLT accounts where resolution is at an advanced stage, which will reduce GNPA by around `2,624 crore, it said. The interest income of the bank improved by 6.75% at `4,542 crore against `4,255 crore. Non-interest income, registering a growth of 41.83%, increased to `1,146 crore against `808 crore. Increase in share of digital products and para banking contributed to the growth, the bank said. Total expenditure has decreased by 3.56% from `4,378 crore to `4,222 crore. CASA of the bank improved to 37.26% against 35.33% with year-on-year growth of 193 bps. Total CASA has increased from `76,526 crore to `82,081 crore while savings bank registered a 9.13% y-o-y growth. Total business stood at `3,70,901 crore as on December 31, 2018 against `3,68,128 crore as on December 31, 2017.