Indian Overseas Bank (IOB), based in Chennai, India, reported a historic net profit of ₹5,209 crore (approximately $628 million USD) for the fiscal year 2026, a significant 56% increase from ₹3,335 crore in FY25. This growth was attributed to higher income and lower provisions and tax expenses. The bank's operating profit also crossed the ₹10,000 crore mark for the first time, reaching ₹10,026 crore, supported by a 15% increase in net interest income, which stood at ₹12,574 crore for FY26 compared to ₹10,890 crore the previous year. In the quarter ending March 31, 2026, net profit rose 43% to ₹1,505 crore from ₹1,051 crore in the same period last year. The bank reported total slippages of ₹366 crore for Q4 FY26 and ₹1,211 crore for the entire fiscal year, with a slippage ratio of 0.13% for Q4 and 0.49% for FY26. Notably, IOB maintained zero slippages in its corporate and overseas segments throughout FY26. The gross NPA ratio improved by 72 basis points to 1.42%, while the net NPA ratio fell by 16 basis points to 0.21%. As of March 2026, total deposits rose 18% year-on-year to ₹3.68 lakh crore, and total advances increased 24% to ₹3.10 lakh crore.