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Jet Airways classified as NPA in Q4: ICICI Bank
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Mumbai, May 7 -- ICICI Bank shares opened at Rs.400.90 on Bombay Stock Exchange (BSE), 0.5% down from its previous close after the private sector lender reported a 50% fall in net profit for the full financial year. At 12 pm the bank's shares were trading at Rs.399.80 on the BSE.
In a call with analysts on Tuesday, the management said Jet Airways was classified as non-performing asset (NPA) in the fourth quarter of 2018-19. However they clarified that the bank had made sufficient provisions against the same. In addition, the bank also classified the fund-based exposure of Rs.276 crore towards Infrastructure Leasing & Financial Services (IL&FS) as NPA and made a provision of Rs.146 crore against the same.
The management also said that it...
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