IOB Q3 net loss widens to 971cr

New Delhi: Public sector Indian Overseas Bank ( IOB) on Tuesday said that its net loss widened to 971.17 crore during the third quarter of this fiscal as bad loans ratio remained over 20 per cent. The bank had reported a net loss of 554.44 crore in the October- December quarter of the previous fiscal. Sequentially, the loss narrowed compared with 1,222.5 crore in the second quarter ended September 2017. Total income of the bank also fell to ` 5,062.38 crore during October- December period of 2017- 18, against 5,599.50 crore in the same period of FY17, it said.