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Analysts, who refer to the steady performance put up by most banks, point out that growth for some sections of the banking industry has lately become somewhat costlier, adding that Indian Overseas Bank has not stayed away from the trend.

The bank, which has seen a slight reduction in the share of low-cost deposits from 37.6 per cent a year ago to 36 per cent, has recorded a 41 per cent increase in advances. Lower operating expenses and good treasury profits have led to a steady net profit growth, it is maintained.

The Rs 10-face value IOB stock closed at Rs 119.50 on Thursday. On the NSE, 3.9 lakh shares made up the volumes.

Nilanjan Dey

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