×
E-PAPER ▾

E-paper

Business

IDBI Bank Q4 net loss jumps 2-fold at Rs 3.2k-cr

| | New Delhi

 State-owned IDBI Bank’s net loss nearly doubled at Rs 3,200 crore in the quarter to March 2017, mainly due to higher provisioning for bad loans. Bank’s net loss was Rs 1,736 crore in the January-March quarter of 2015-16. As per the financial result posted by the bank on stock exchanges, its annual loss for 2016-17 too widened to Rs 5,158 crore as against Rs 3,665 crore in the previous fiscal.

IDBI’s total income during the fourth quarter of 2016-17 was Rs 8,048 crore, down from Rs 8,275 crore in the year-ago quarter leading to reduced operational income. The bank made provisions worth Rs 4590 crore in the fourth quarter to deal with non-performing assets (NPAs).

The provisioning was Rs 3,331 crore in the corresponding quarter of 2015-16. The Gross NPAs almost doubled to 21.25 per cent of the gross advances in the fourth quarter of the last fiscal compared to 10.98 per cent in the corresponding period of the previous financial year. The net NPAs were 13.21 per cent against 6.78 per cent.

The bank, however, reported increase in net interest income which went up by 14.43 per cent from Rs 1,427 crore for the quarter ended March 2016 to Rs 1,633 crore for the three months ended March 2017. The net interest margin (NIM) too has increased. IDBI Bank's share closed at Rs 70 apiece on BSE, down 7.77 per cent over on Wednesday.  

 
 
 

TOP STORIES

Sunday Edition

View All

Govt to unveil new Haj policy this month: Naqvi

13 Aug 2017 | TN RAGHUNATHA | Mumbai

Union Minister of State for Minority Affairs (Independent Charge) Mukhtar Abbas Naqvi on said in Mumbai on Saturday that the Haj Policy-2018 — aimed at making the piligrimage process “transparent” and “smooth” — would be unveiled later this month. Speaking at the 22nd annual Haj orientation camp organised for Haj pilgrims at Haj House in Mumbai, Naqvi said that from the next year, the Haj would be organised as per to...

Read More

STATE EDITIONS

View All

GSI to look for limestone deposits in Raigarh dist

19 Aug 2017 | Staff Reporter | Raipur

The Geological Survey of India will carry out assessment of Limestone deposits In Laladhurwa-Jognipali Block of Raigarh district in Chhattisgarh. GSI last year took up assessment of limestone deposits at Birutola-Nawapara-Sohagpur Blocks of Kabirdham district in Chhattisgarh, officials stated...

Read More

Page generated in 0.6516 seconds.