Despite challenges from rising budget costs, Indian Overseas Bank (IOB) intends to maintain its margins around 3.25% to 3.30% going forward. The bank also plans to reduce gross non-performing assets (NPA) by 100 basis points (bps) to 2.10% by FY25, with net NPA targeted at 0.25-0.30%.In an interview with CNBC-TV18, Ajay Kumar Srivastava, Chief Managing Director & CEO of Indian Overseas Bank, highlighted the bank’s strategy to maintain margins and reduce NPA while growing loans at a mid-teen rate.In further discussion regarding net interest margins (NIMs), Srivastava mentioned that the bank raised interest income while simultaneously decreasing expenses on interest paid by managing its…
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Indian Overseas Bank targets 3.25-3.30% net interest margin in FY25
