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IDBI Bank Q4 net loss widens to Rs 3,200 cr as bad loans surge

Gross bad loans rose to 21.25% from 15.16% at year-ago period

Reuters  |  Mumbai 

IDBI Bank
IDBI Bank

Indian state-run reported fourth-quarter net loss widens by 54.2% to Rs 3,200 crore ($495.1 million) from a net loss of Rs 1,736 crore in the year-ago quarter as soared, sending its shares down more than 8 per cent.

Gross as a percentage of total loans rose to 21.25 per cent as at end-March, from 15.16 per cent in December, and 10.98 per cent in March 2016.

The recently initiated "prompt corrective action" on IDBI, which the lender said was due to high and negative return on assets.

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IDBI Bank Q4 net loss widens to Rs 3,200 cr as bad loans surge

Gross bad loans rose to 21.25% from 15.16% at year-ago period

Gross bad loans rose to 21.25% from 15.16% at year-ago period

Indian state-run reported fourth-quarter net loss widens by 54.2% to Rs 3,200 crore ($495.1 million) from a net loss of Rs 1,736 crore in the year-ago quarter as soared, sending its shares down more than 8 per cent.

Gross as a percentage of total loans rose to 21.25 per cent as at end-March, from 15.16 per cent in December, and 10.98 per cent in March 2016.

The recently initiated "prompt corrective action" on IDBI, which the lender said was due to high and negative return on assets.

image
Business Standard
177 22

IDBI Bank Q4 net loss widens to Rs 3,200 cr as bad loans surge

Gross bad loans rose to 21.25% from 15.16% at year-ago period

Indian state-run reported fourth-quarter net loss widens by 54.2% to Rs 3,200 crore ($495.1 million) from a net loss of Rs 1,736 crore in the year-ago quarter as soared, sending its shares down more than 8 per cent.

Gross as a percentage of total loans rose to 21.25 per cent as at end-March, from 15.16 per cent in December, and 10.98 per cent in March 2016.

The recently initiated "prompt corrective action" on IDBI, which the lender said was due to high and negative return on assets.

image
Business Standard
177 22