Mumbai, May 25
State-owned IDBI Bank on Friday reported net loss of Rs 5,662.76 crore in the quarter ending March 2018 due to higher provisioning for non-performing assets (NPAs).
The bank had reported a net loss of Rs 3,199.77 crore in the corresponding January-March quarter of 2016-17.
The bank’s income during January-March 2018 was Rs 7,913.82 crore, marginally up from Rs 7,703.19 crore in the year-ago period, it said in a regulatory filing.
IDBI Bank’s gross NPA soared to 27.95% of its loans at March 2018-end compared to 21.25% at the end of March 2017.
Similarly, the net NPAs were 16.69% as compared to 13.21% in the previous fiscal. — PTI
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