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Nine public lenders reported losses in 2016-17

IANS  |  New Delhi 

Out of 22 public sector banks (PSBs), nine lenders, led by IDBI Bank, had reported losses in 2016-17, was told on Tuesday.

reported Rs 5,158 crore loss, the highest by any PSB, in the last financial year, Minister of State for Finance Santosh Kumar Gangwar told the Rajya Sabha in a written reply.

During 2016-17, reported Rs 314 crore loss, of India Rs 1,558 crore, of Maharashtra Rs 1,373 crore, Central of India Rs 2,439 crore, Dena Rs 864 crore, Indian Overseas Rs 3,417 crore, Oriental of Commerce Rs 1,094 crore while Uco reported a loss of Rs 1,851 crore, he added.

However, all the PSBs are maintaining a positive balance in revenue reserves, he said.

During 2015-16, 13 out of the 21 PSBs had reported losses, led by of India which reported Rs 6,089 crore loss.

Other banks which reported losses in 2015-16 are Allahabad Bank, Rs 743 crore loss, of Baroda Rs 5,396 crore, Canara Rs 2,813 crore, Central of India Rs 1,418 crore, Corporation Rs 506 crore, Dena Rs 935 crore, Rs 3,665 crore, Indian Overseas Rs 2,897 crore, Punjab National Rs 3,974 crore, Syndicate Rs 1,643 crore, Uco Rs 2,799 crore and United of India with a Rs 282 crore loss.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 18 2017. 19:04 IST
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