 "Allahabad Bank Q4 loss widens to Rs 3,834 cr on higher NPA provisions")
Public sector lender Allahabad Bank posted a net loss of Rs 3,834 crore in Q4 of FY19, against a net loss of about Rs 3,510 crore in the same period of FY18. The net loss of the bank in Q2 of FY 19 was about Rs 733 crore
The gross non performing asset (NPA) of the bank as a percentage of total lending stood at 17.55 per cent in the last quarter, against 15.96 per cent in the corresponding quarter of FY18. The net NPA of the bank stood at 5.22 per cent in the last quarter, against 8.04 per cent of the corresponding period of FY18.
The provisions for NPA in the last quarter stood at Rs 5,279 crore, against Rs 5,126 crore in the same period of the FY18.
The bank received a capital infusion of about Rs 6,896 crore from the government in the last quarter.
In February this year, RBI permitted Allahabad Bank to come out of PCA framework.
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