IDBI Bank narrows Q4 loss to Rs 4,918 cr; may exit PCA regime by March 2020

The provisions for NPAs stood at Rs 7,233 crore in Q4FY19 as against Rs 10,773 crore for Q4FY18

Private lender IDBI Bank narrowed its losses to Rs 4,918 crore in fourth quarter ended March 31, 2019, partly helped by a fall in provisions for bad loans. It had posted net loss of Rs 5,662 crore in Q4FY19.

The bank's stock closed 2.57 per cent higher at Rs 37.95 per share on BSE.

The net loss for FY19 rose substantially to Rs 15,116 crore from Rs 8,237 crore for FY18 because of a rise in provisions.

The bank, now a subsidiary of Life Insurance Corporation of India, is under Prompt Corrective Action (PCA) regime due to a high level