AGL 40.22 Increased By ▲ 0.22 (0.55%)
AIRLINK 127.25 Increased By ▲ 0.21 (0.17%)
BOP 6.61 Decreased By ▼ -0.06 (-0.9%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.54 Decreased By ▼ -0.01 (-0.12%)
DFML 41.65 Increased By ▲ 0.21 (0.51%)
DGKC 87.03 Increased By ▲ 0.18 (0.21%)
FCCL 32.60 Increased By ▲ 0.32 (0.99%)
FFBL 65.35 Increased By ▲ 0.55 (0.85%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.40 Decreased By ▼ -0.17 (-0.16%)
HUMNL 14.58 Decreased By ▼ -0.10 (-0.68%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.65 Increased By ▲ 0.19 (2.55%)
MLCF 41.65 Increased By ▲ 0.27 (0.65%)
NBP 59.65 Decreased By ▼ -0.76 (-1.26%)
OGDC 194.30 Increased By ▲ 4.20 (2.21%)
PAEL 28.21 Increased By ▲ 0.38 (1.37%)
PIBTL 7.85 Increased By ▲ 0.02 (0.26%)
PPL 152.25 Increased By ▲ 2.19 (1.46%)
PRL 26.56 Decreased By ▼ -0.32 (-1.19%)
PTC 16.05 Decreased By ▼ -0.02 (-0.12%)
SEARL 81.90 Decreased By ▼ -4.10 (-4.77%)
TELE 7.49 Decreased By ▼ -0.22 (-2.85%)
TOMCL 35.45 Increased By ▲ 0.04 (0.11%)
TPLP 8.25 Increased By ▲ 0.13 (1.6%)
TREET 16.16 Decreased By ▼ -0.25 (-1.52%)
TRG 52.75 Decreased By ▼ -0.54 (-1.01%)
UNITY 26.70 Increased By ▲ 0.54 (2.06%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,945 Increased By 61.7 (0.62%)
BR30 30,926 Increased By 326.1 (1.07%)
KSE100 93,743 Increased By 387.8 (0.42%)
KSE30 29,049 Increased By 117.6 (0.41%)

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.