The article below represents a preview only and is not meant for reuse or republishing.
IDBI Bank Q1 net loss widens to Rs.3801 crore
Click here to read full article from source
New Delhi, Aug. 14 -- IDBI Bank Ltd on Wednesday said its first quarter net loss widened on the back of higher provisioning and lower net interest income.
The bank posted a net loss Rs.3800.84 crore for the three months ended 30 June compared to a loss of Rs.2409.89 crore in the year-ago period.
Provisions during the quarter increased 20.93% to Rs.6332.05 crore as against Rs.5235.96 crore in the year-ago quarter. In the Jan-Mar quarter, the bank had set aside Rs.8532.78 crore in provisions.
Net interest income, or the difference between interest earned on loans and that paid on deposits, decreased 11.04% to Rs.1457.73 crore from Rs.1638.62 crore in the corresponding period last year.
Other income, which includes core fee income, rose ...
To read the full article or to get the complete feed from this publication, please Contact Us