IDBI Bank Q3 loss widens to Rs 2,255 crore

The bank’s gross NPA shot up to 15.16 per cent of gross advances at Rs 35,245 crore during the December quarter of 2016-17 against 8.94 per cent (Rs 19,615 crore) in the same period a year ago.

By: ENS Economic Bureau | Mumbai | Published:February 8, 2017 12:56 am

Public sector lender IDBI Bank’s net loss widened further to Rs 2,254.96 crore during the December quarter of the current financial year, compared with a net loss of Rs 2,183.68 crore in the corresponding period last year, due to higher provisions for rising bad loans and fall in income.

The bank’s gross non-performing assets (NPA) shot up to 15.16 per cent of gross advances at Rs 35,245 crore during the December quarter of 2016-17 against 8.94 per cent (Rs 19,615 crore) in the same period a year ago. The bank added Rs 15,630 crore NPAs in the last 12 months. Net NPAs as on December 31, 2016 stood at 9.61 per cent (Rs 20,949 crore) of net advances as compared with 4.60 per cent (Rs 9,162 crore) of net advances in December 2015.

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