AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.70 Increased By ▲ 0.02 (0.3%)
CNERGY 4.48 Decreased By ▼ -0.15 (-3.24%)
DCL 8.62 Decreased By ▼ -0.32 (-3.58%)
DFML 40.36 Decreased By ▼ -1.33 (-3.19%)
DGKC 80.25 Decreased By ▼ -3.52 (-4.2%)
FCCL 32.80 Increased By ▲ 0.03 (0.09%)
FFBL 75.00 Decreased By ▼ -0.47 (-0.62%)
FFL 11.68 Increased By ▲ 0.21 (1.83%)
HUBC 109.23 Decreased By ▼ -1.32 (-1.19%)
HUMNL 13.90 Decreased By ▼ -0.66 (-4.53%)
KEL 5.40 Increased By ▲ 0.01 (0.19%)
KOSM 7.95 Decreased By ▼ -0.45 (-5.36%)
MLCF 38.50 Decreased By ▼ -1.29 (-3.24%)
NBP 63.49 Increased By ▲ 3.20 (5.31%)
OGDC 196.00 Decreased By ▼ -3.66 (-1.83%)
PAEL 25.83 Decreased By ▼ -0.82 (-3.08%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 156.50 Decreased By ▼ -1.42 (-0.9%)
PRL 25.69 Decreased By ▼ -1.04 (-3.89%)
PTC 17.30 Decreased By ▼ -1.16 (-6.28%)
SEARL 78.70 Decreased By ▼ -3.74 (-4.54%)
TELE 7.80 Decreased By ▼ -0.51 (-6.14%)
TOMCL 33.49 Decreased By ▼ -1.02 (-2.96%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.50 Decreased By ▼ -0.97 (-5.55%)
TRG 57.80 Decreased By ▼ -3.52 (-5.74%)
UNITY 27.50 Increased By ▲ 0.07 (0.26%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,409 Increased By 2.6 (0.03%)
BR30 31,124 Decreased By -589.4 (-1.86%)
KSE100 97,804 Increased By 475.7 (0.49%)
KSE30 30,478 Increased By 285.3 (0.94%)

India's IDBI Bank Ltd reported a loss of 56.63 billion rupees ($834.82 million) for the fourth quarter as the state-run lender booked higher provisions following stricter central bank rules on bad loans. Banks saw soured loans and provisions surge in the quarter after the central bank in February eliminated half a dozen loan restructuring schemes to hasten the clean-up of near-record levels of bad debt.
Most of the legacy issues on asset quality have been recognised, IDBI Bank CEO M K Jain said in a press conference after results, adding 97 billion rupees of loans slipped to non-performing assets due to RBI's latest circular. Provisions for bad loans surged 80 percent to 105.44 billion rupees, while that for non-performing assets rose 78 percent.
IDBI Bank's gross bad loans as a percentage of total loans stood at 27.95 percent at end-March, compared with 24.72 percent in the previous quarter and 21.25 percent a year ago. The quarterly loss, the sixth straight in a row, was deeper than the 32 billion rupees recorded in the same period last year, the bank said in a statement Most state-run banks that have reported quarterly earnings so far have posted losses.

Copyright Reuters, 2018

Comments

Comments are closed.