Allahabad Bank's net loss widens in Q2 to Rs 2,114 cr; stock tumbles 11%

The bank, however, logged a net interest income (NII) of Rs 1,275.7 crore, up 10.9 per cent YoY, from Rs 1,150.5 crore.

Shares of Allahabad Bank slipped up to 11.2 per cent to Rs 23.95 per share in the afternoon trade on the BSE on Friday after the bank's standalone loss in the Sepember quarter of FY20 (Q2FY20) widened to Rs 2,114 crore. The bank had incurred a loss of Rs 1,823 crore in the corresponding quarter of the previous fiscal. Besides, the bank's asset quality deteriorated in the recently concluded quarter.

The gross non-performing asset (GNPA) ratio rose to 19.05 per cent in Q2FY20, up from 17.53 per cent YoY. Sequentially, the ratio jumped from 17.43 per cent. As for NNPA