Allahabad Bank on Tuesday reported an over two-fold jump in standalone net loss for the December quarter at ₹1,986.26 crore on higher bad loans and provisioning.
The State-owned lender had reported a net loss of ₹732.81 crore in the corresponding October-December period of the previous fiscal.
Total income (standalone) during the quarter under review grew to ₹4,860.35 crore from ₹4,756.88 crore in the same period of 2018-19.
The bank’s gross non-performing assets (NPAs) rose to 18.93% of the gross advances by the end of the December quarter as against 17.81% earlier.
