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IDBI Bank posts Rs 135 cr profit in Q4 on account of bad loan recoveries

The bank, majority owned by Life Insurance Corporation of India (LIC), had posted a net loss of Rs 4,918 crore in the corresponding period of last year

IDBI
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The lender reported a profit after 13 straight quarters of net losses

Press Trust of India
Turning the corner, IDBI Bank on Saturday posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans.
The lender reported a profit after 13 straight quarters of net losses.
The bank, majority owned by Life Insurance Corporation of India (LIC), had posted a net loss of Rs 4,918 crore in the corresponding period of last year.
Total income rose to Rs 6,925 crore as against Rs 6,616 in the fourth quarter of 2018-19, the bank said in a regulatory filing.
As a result of increased recovery from resolution of bad loans, there was write back of

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First Published: May 30 2020 | 6:23 PM IST

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