Andhra Bank’s net loss widened to ₹578.59 crore during the quarter ended December.
The loss in the year-earlier period was ₹532.02 crore.
In a regulatory filing, the bank said the provisions for non-performing assets (NPAs) stood at ₹1,790.17 crore. This is an increase of 2.58% from the ₹1,744.99 crore made in the corresponding quarter of the previous fiscal.
Total income increased 4.49% to ₹5,322.33 crore (₹5,093.43 crore). The interest earned was 5.43% higher at ₹4,796.65 crore (₹4,549.26 crore).
The gross NPAs of the State-owned bank increased to 16.68% (14.26%). The gross bad loans, in absolute value terms, were ₹28,703.47 crore as against ₹21,599.32 crore. At ₹10,778.36 crore, the net NPAs were at 6.99% as against the 7.72% (₹10,858.32 crore) in the year earlier period.
