Re-structuring on two big accounts led to 50% decline in Q3 PAT: IOB
M Narendra, CMD of Indian Overseas Bank told NDTV Profit that the 50 per cent decline in Q3 profits on year on year basis was due to re-structuring of accounts, particularly two big accounts. He, however, assured that the recovery in Q3 FY 12 has been better than Q2 FY 12. "The bank is expecting one major recovery in two-three days," he added.
