BoR posts Rs 102 cr loss in FY10

The troubled Bank of Rajasthan (BoR), slated to be merged with ICICI Bank, today posted a loss of over Rs 100 crore during FY10, primarily due to provisions for employee benefits and mounting bad loans.

The bank posted a net loss of Rs 102.13 crore in the year ended March 2010, against a profit of Rs 117.71 crore in the previous year after it provided around Rs 117 crore to cover its bad loans compared to Rs 20 crore in FY09.

For the march quarter, the net losses stood at Rs 92 crore as against a profit of Rs 3 crore in year-ago period.

 

Total income for the year declined to Rs 1,489.48 crore from Rs 15,07.22 crore in the year-ago period. The net NPA went up to 1.6 per cent in FY10 from a mere 0.73 per cent last year.