IOB to raise $500M as Q2 profit surges 56%

IOB to raise $500M as Q2 profit surges 56%. Indian Overseas Bank reported a 56% year-on-year jump in net profit for Q2, driven by lower provisioning and higher net interest income. The bank plans to raise $500 million through bonds to strengthen capital and support growth. The move underscores improved financial health and expansion ambitions.
📊 STOCKS: IOB | 🏢 SECTOR: Banking | #HIGHIMPACT #Banking