Al­la­habad Bank Q1 loss at cr

The Financial Express - - MONEY & MARKET - Fe Bureau

Kolkata, Aug 12: Pub­lic sec­tor lender Al­la­habad Bank on Fri­day re­ported a net loss of Rs 564.96 crore for the quar­ter ended June 30, com­pared with a net profit of Rs.146.86 crore a year ago, be­cause of lower op­er­at­ing profit and higher pro­vi­sion­ing for huge rise in its non-per­form­ing as­sets.

The bank's gross NPA in ab­so­lute term rose by a whop­ping 140.5% year-onyear to Rs 19,208.62 crore from Rs 7,987.44 crore in the same pe­riod pre­vi­ous fis­cal. Its gross NPAs as a per­cent­age of to­tal loans rose to 12.33% in the first quar­ter of this fis­cal from 5.29% a year ago, ac­cord­ing to a stock ex­change fil­ing.

The Kolkata-based lender's op­er­at­ing profit dur­ing the June quar­ter fell by over 22% Y-o-Y to Rs 967.44 crore, com­pared with Rs 1,241.50 crore for the cor­re­spond­ing pe­riod last fis­cal. Its to­tal in­come dur­ing the pe­riod un­der re­view dipped by 5% Y-o-Y to Rs 5,122.91 crore.

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