IDBI Bank Q3 Loss Wi­dens on Higher NPA Pro­vi­sions

The Economic Times - - Economy: Macro, Micro & More -

A sharp drop in earn­ings from lend­ing and a rise in bad loans led to IDBI Bank re­port­ing an all-time high loss of ₹ 2,255 crore for the third quar­ter ended De­cem­ber 2016, com­pared with a loss of ₹ 2,184 crore a year ago. The bank had posted ₹ 55 crore net profit in the sec­ond quar­ter ended Septem­ber. IDBI Bank shares fell 2% to ₹ 81.75 on Tues­day. The bank’s gross non-per­form­ing loans stood at ₹ 35,245 crore, or 15% of to­tal loan book, as on De­cem­ber 31, 2016, against 13% as on Septem­ber 30, 2016. Af­ter mak­ing pro­vi­sions of ₹ 2,357 crore, net NPA fell to 9.6% of to­tal ad­vances as on De­cem­ber 31, 2016, against 8.32% on Septem­ber 30, 2016. De­posits rose 27% to ₹ 2.98 lakh crore as on De­cem­ber 31, 2016 from ₹ 2.34 lakh crore a year ago.

MUM­BAI

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