Indian Banks Report Strong Q3 Earnings

Two Indian banks, Indian Overseas Bank (IOB) and South Indian Bank, have reported strong earnings for the third quarter.

IOB made its highest-ever profit of ₹1,365 crore, driven by more loans to people and farmers.

They are also preparing for new rules that require setting aside more money for potential losses.

South Indian Bank also did well, with a 9.3% increase in profit to ₹374 crore.

Their total income and interest income grew, and they had fewer bad loans.

Both banks are performing well, but they are also preparing for future challenges.