IDBI net loss rises three-fold to Rs. 2410 Crore on higher provisioning

0 980

Mumbai :   Public Sector IDBI Bank today reported almost three-fold rise in Net loss to Rs.2,410 crore for QE June 2018 as against Net Loss of Rs.853 crore in the corresponding quarter in FY17 on account of higher provisioning. Operating Profit of the bankincreased by 28% to Rs.1,081 crore for QE June 2018 against Rs.843 crore for the QE June 2017.

Net Interest Income increased by 17% to Rs.1,639 crore for the QE June 2018 from Rs.1,402 crore for the quarted ended  June 2017. Interest Expenditure reduced by 11% to Rs.4,121 crore for QE June 2018 from Rs.4,609 crore for the quarted ended June 2017.

Provision Coverage Ratio (PCR) improved to 64.45% as on June 30, 2018 from 52.42% as on June 30, 2017.

Gross NPA and Net NPA Ratio stood at 30.78% and 18.76% respectively as on June 30, 2018. Recovery from written-off accounts increased by 188% to Rs.69 crore for QE June 2018 from Rs.24 crore for QE June 2017.

CET 1 capital of the Bank stands at 5.84% as on June 30, 2018 as against 5.71% as on June 30, 2017. Capital to Risk (Weighted) Assets Ratio (CRAR) stood at 8.18% as on June 30, 2018. Risk Weighted Assets (RWA) reduced by 23% to Rs.1,99,823 crore over June 30, 2017.

Leave A Reply

Your email address will not be published.