IDBI Bank posts Rs 1,524 cr net loss

31  January,Mumbai

 

IDBI Bank on Wednesday said it closed the third quarter of the current fiscal with a net loss of Rs 1,524 crore on a total income of Rs 6,645 crore.

In a regulatory filing in BSE, the bank said it had posted a net loss of Rs 1,524 crore for the quarter ended December 31, 2017, down from the net loss of Rs 2,255 crore posted for the same period in the previous year.

Total income for the quarter was Rs 6,645 crore down from Rs 7,104 crore earned for the quarter ended December 31, 2016.

For the third quarter of this fiscal, IDBI Bank has provided Rs 4,179 crore including a provision for non performing assets (NPA) of Rs 3,649 crore, up from Rs 3,205 crore including a NPA provision of Rs 3,135 crore in the same period last year.

The bank’s gross and net NPA, as on December 31, 2017, stood at Rs 50,621 crore and Rs 29,352 crore respectively, up from Rs 35,245 crore and Rs 20,949 crore for the period ended December 31, 2016.

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