Business Standard

IDBI Bank Q3 net loss narrows to Rs 15 bn; provisions for bad loans up 16%

Gross bad loans as a percentage of total loans stood at 24.72 percent at end-December

IDBI

IDBI Bank

Reuters
IDBI Bank Ltd posted a fifth straight quarterly loss on Wednesday as provisions for bad loans rose in the period.
Net Loss for the quarter ending Dec.31 narrowed to Rs 15.24 billion ($239.63 million), from Rs 22.55 billion in the corresponding quarter a year earlier. Gross bad loans as a percentage of total loans stood at 24.72 per cent at end-December, compared with 24.98 per cent in the previous quarter and 15.16 per cent a year ago.
Provisions for bad loans grew 16.4 percent to 36.50 billion rupees.
 
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 31 2018 | 5:17 PM IST

Explore News