IDBI Bank s Q1 net loss widens to Rs 2,410 cr
Tuesday - August 14, 2018 10:54 pm ,
Category : BUSINESS
Mumbai Aug 14 (IANS) State-run IDBI Bank s standalone net loss has widened to Rs 2 409.89 crore for the first quarter of 2018-19 on the back of a rise in the provision for non-performing assets (NPAs).
The lender had reported a net loss of Rs 853.01 crore in the corresponding quarter of the previous fiscal.
As per the results the bank s provisions (other than tax) and contigencies (net) for the June quarter stood at Rs 5 236.07 crore from Rs 2 035.96 crore reported for the like period of 2017-18.
IDBI Bank s gross NPAs during the first quarter rose to Rs 57 806.84 crore against Rs 50 173.20 crore in the same quarter of 2017-18.
However the lender s "Net Interest Income" increased by 17 per cent to Rs 1 639 crore from Rs 1 402 crore for the first quarter of 2018-19.
The bank s "Net Interest Margin" improved by 45 basis points to 2.17 per cent from 1.72 per cent reported for the quarter ended June 30 2017.
--IANS rv/bg
The lender had reported a net loss of Rs 853.01 crore in the corresponding quarter of the previous fiscal.
As per the results the bank s provisions (other than tax) and contigencies (net) for the June quarter stood at Rs 5 236.07 crore from Rs 2 035.96 crore reported for the like period of 2017-18.
IDBI Bank s gross NPAs during the first quarter rose to Rs 57 806.84 crore against Rs 50 173.20 crore in the same quarter of 2017-18.
However the lender s "Net Interest Income" increased by 17 per cent to Rs 1 639 crore from Rs 1 402 crore for the first quarter of 2018-19.
The bank s "Net Interest Margin" improved by 45 basis points to 2.17 per cent from 1.72 per cent reported for the quarter ended June 30 2017.
--IANS rv/bg
