ALSO READIndian Bank's Q1 net profit up 21% on robust other income Indian Bank Q1 net up 21% to Rs 372 cr on robust growth in other income HDFC Bank Q1 net up 20% at Rs 3,893 cr on strong revenue growth At 12%, banks in Odisha have higher NPA than national average Kotak Mahindra Bank Q1 consolidated profit up by 26% at Rs 1,347 crore
Gross non-performing assets (NPA) as a percentage of total loans fell to 13.05% at end-June from 13.22% at March-end and 13.38% at end-June last year. Net NPA too decline to 6.7% in Q1FY18 from 6.9% in Q4FY17 and 7.78% in Q1FY17.
The bank has reported a net profit of Rs 87.71 crore during the quarter under review, due to lower provisioning for bad loans. It had posted a loss of Rs 741 crore in the same quarter last fiscal.
Net interest income (interest earned minus interest expended) however declined by 9% to Rs 2,533 crore from Rs 2,775 crore in the corresponding quarter of previous fiscal.