Indian Overseas Bank has reported a record net income of Rs 808 crore for the March quarter, marking a significant increase from Rs 650 crore in the previous year. This achievement represents the highest-ever quarterly net income for the Chennai-based bank. Similarly, the bank also recorded its highest-ever annual earnings of Rs 2,656 crore for FY24, demonstrating a substantial growth from Rs 2,099 crore in FY23. The remarkable improvement in asset quality played a pivotal role in these achievements, with a significant reduction in bad loan piles leading to lesser provisions.