Nine public lenders reported losses in 2016-17

New Delhi July 18 (IANS) 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