You are here: Home » News-IANS » Politics
Business Standard

Nine public lenders reported losses in 2016-17

IANS  |  New Delhi 

Out of 22 public sector banks (PSBs), nine lenders, led by IDBI Bank, had reported losses in 2016-17, parliament was told on Tuesday.

IDBI Bank reported Rs 5,158 crore loss, the highest by any PSB, in the last financial year, Minister of State for Finance Santosh Kumar Gangwar told the Rajya Sabha in a written reply.

During 2016-17, Allahabad Bank reported Rs 314 crore loss, Bank of India Rs 1,558 crore, Bank of Maharashtra Rs 1,373 crore, Central Bank of India Rs 2,439 crore, Dena Bank Rs 864 crore, Indian Overseas Bank Rs 3,417 crore, Oriental Bank of Commerce Rs 1,094 crore while Uco Bank reported a loss of Rs 1,851 crore, he added.

However, all the PSBs are maintaining a positive balance in revenue reserves, he said.

During 2015-16, 13 out of the 21 PSBs had reported losses, led by Bank of India which reported Rs 6,089 crore loss.

Other banks which reported losses in 2015-16 are Allahabad Bank, Rs 743 crore loss, Bank of Baroda Rs 5,396 crore, Canara Bank Rs 2,813 crore, Central Bank of India Rs 1,418 crore, Corporation Bank Rs 506 crore, Dena Bank Rs 935 crore, IDBI Bank Rs 3,665 crore, Indian Overseas Bank Rs 2,897 crore, Punjab National Bank Rs 3,974 crore, Syndicate Bank Rs 1,643 crore, Uco Bank Rs 2,799 crore and United Bank of India with a Rs 282 crore loss.

--IANS

mm/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 18 2017. 19:04 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU