Business

IDBI bank net loss widens to Rs 2410 crore in first quarter

New Delhi, Aug 14 (Agencies) | Publish Date: 8/14/2018 1:22:38 PM IST

IDBI Bank reported a wider net loss of Rs 2,409.90 crore for the first quarter ending June 2018. The loss widened from Rs 853 crore registered in the same quarter a year ago, due to a jump in non-performing assets (NPAs) and provisions.

In the fourth quarter ending March 2018, the net loss stood at Rs 5,663 crore.

Provisions during the quarter spiked over 157 percent to Rs 5,236 crore versus Rs 2,036 crore a year ago. It reduced by half from Rs 10,544 crore in the March quarter.

Provisions towards bad loans jumped 146 percent YoY to Rs 4,602 crore from Rs 1,873 crore. March quarter provisions stood at Rs 10,773 crore.

IDBI Bank’s capital adequacy ratio (CAR) dipped to 8.18 percent, below the RBI regulatory requirement of 9 percent.

Total advances as on June end declined by 15 percent to Rs 1.58 lakh crore while total deposits decreased by a percent to Rs 2.40 lakh crore.

As a percentage of total loans, gross non-performing assets (NPA) ratio worsened to 30.78 percent from 27.95 percent in the March quarter.

Net NPA ratio also increased to 18.76 percent from 16.69 percent in the previous quarter.

In absolute terms, gross NPAs increased to Rs 57,807 crore from Rs 55,588 crore. Net NPAs stood higher at Rs 29,981 crore from Rs 28,665 crore.

In a breather, the bank’s net interest income (NII) for the quarter rose by 17 percent to Rs 1,639 crore in June 2018 as against Rs 1,402 crore in June 2017.

Other income or non-interest income reduced marginally at Rs 643 crore from Rs 686 crore in the same quarter last year. Sequentially, other income dropped by 76 percent.

 

Launched on December 3,1990. Nagaland Post is the first and highest circulated newspaper of Nagaland state. Nagaland Post is also the first newspaper in Nagaland to be published in multi-colour.

Phone:+91-3862-248 489,Fax: +91-3862-248 500
Advt.:+91-3862-2482 267, e-mail:npdesk@gmail.com

QUICK LINKS

SUNDAY POST

Join us on

© Nagaland Post 2018. All Rights are Reserved
Designed by : 4C Plus