Industry

Allahabad Bank Q3 net loss widens

The State-owned lender had reported a net loss of ₹732.81 crore in the corresponding October-December period of the previous fiscal.

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.

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Printable version | Feb 24, 2020 11:32:57 PM | https://www.thehindu.com/business/Industry/allahabad-bank-q3-net-loss-widens/article30795000.ece

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