GIFT a SubscriptionGift
HamberMenu
  1. Cricket
  2. Data
  3. Health
  4. Opinion
  5. SEARCH Icon
  1. Cricket
  2. Data
  3. Health
  4. Opinion
  5. SEARCH Icon

To enjoy additional benefits

GIFT a SubscriptionGift
ShowcaseCrossword+

CONNECT WITH US

year
Click here for our in-depth coverage of Lok Sabha and Assembly elections #ElectionsWithTheHindu

IDBI Bank Q1 loss widens to ₹2,410 cr.

August 14, 2018 09:43 pm | Updated 09:44 pm IST - New Delhi

PTI
HYDERABAD, TELANGANA, 28/03/2018: A view of IDBI bank in Secunderabad on March 28, 2018. IDBI Bank Ltd said that fraudulent loans of Rs772 crore ($118.8 million) were issued from five of its branches in Andhra Pradesh and Telangana. Photo: G. Ramakrishna

HYDERABAD, TELANGANA, 28/03/2018: A view of IDBI bank in Secunderabad on March 28, 2018. IDBI Bank Ltd said that fraudulent loans of Rs772 crore ($118.8 million) were issued from five of its branches in Andhra Pradesh and Telangana. Photo: G. Ramakrishna

State-owned IDBI Bank on Tuesday reported widening of its loss to ₹2,409.89 crore for the first quarter ended June 30, hurt by higher provisioning for bad loans.

The bank had posted a loss of ₹853 crore in the April-June quarter of the previous fiscal.

Its total provisioning for non performing assets, or bad loans, more than doubled to ₹5,236.07 crore in the first quarter of 2018-19, from ₹2,035.96 crore in the year-earlier period. The provision for bad loans alone was ₹4,602.55 crore, as against ₹1,873.21 crore.

Total income of the bank for the quarter also declined to ₹6,402.50 crore, as against Rs 6,730.88 crore a year earlier, IDBI said in a regulatory filing.

Top News Today

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.