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PSBs book highest ever loss of Rs 12,000 cr as bad loans mount

11 public sector banks together posted a net loss of Rs 12,867 cr during third quarter

Press Trust of India  |  New Delhi 

Hit hard by mounting bad loans, many leading public sector banks, including Bank of Baroda, Bank of India and IDBI Bank, reported their highest ever quarterly losses aggregating to over Rs 12,000 crore, while others like SBI and PNB witnessed sharp erosion in profits. Bank of Baroda reported a whopping loss of Rs 3,342 crore, the highest ever quarterly loss posted by any public sector bank in the industry. IDBI Bank recorded a loss of Rs 2,184 crore, while Bank of India posted a Rs 1,505 crore loss for the quarter ended December. Besides, UCO Bank reported a net loss of Rs 1,497 ...

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PSBs book highest ever loss of Rs 12,000 cr as bad loans mount

11 public sector banks together posted a net loss of Rs 12,867 cr during third quarter

11 public sector banks together posted a net loss of Rs 12,867 cr during third quarter Hit hard by mounting bad loans, many leading public sector banks, including Bank of Baroda, Bank of India and IDBI Bank, reported their highest ever quarterly losses aggregating to over Rs 12,000 crore, while others like SBI and PNB witnessed sharp erosion in profits. Bank of Baroda reported a whopping loss of Rs 3,342 crore, the highest ever quarterly loss posted by any public sector bank in the industry. IDBI Bank recorded a loss of Rs 2,184 crore, while Bank of India posted a Rs 1,505 crore loss for the quarter ended December. Besides, UCO Bank reported a net loss of Rs 1,497 ... image
Business Standard
177 22

PSBs book highest ever loss of Rs 12,000 cr as bad loans mount

11 public sector banks together posted a net loss of Rs 12,867 cr during third quarter

Hit hard by mounting bad loans, many leading public sector banks, including Bank of Baroda, Bank of India and IDBI Bank, reported their highest ever quarterly losses aggregating to over Rs 12,000 crore, while others like SBI and PNB witnessed sharp erosion in profits. Bank of Baroda reported a whopping loss of Rs 3,342 crore, the highest ever quarterly loss posted by any public sector bank in the industry. IDBI Bank recorded a loss of Rs 2,184 crore, while Bank of India posted a Rs 1,505 crore loss for the quarter ended December. Besides, UCO Bank reported a net loss of Rs 1,497 ...

image
Business Standard
177 22

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