IDBI Bank Loss widens to Rs 56.6 billion as NPAs touch 28%

Widens to Rs 56.6 bn, with gross NPA 28%, second highest ever in sector; banks says worst behind it

Government-owned IDBI Bank's net loss widened to Rs 56.6 billion in the March quarter, on a sizable Rs 107.8 bn provision for bad loans.

The quarterly loss, the sixth in a row, was deeper than the Rs 31.9 bn in the same period last year. For the full year ended March 2018, the net loss is Rs 82.4 bn, against one of Rs 51.6 bn in 2016-17.

However, operating profit for the quarter (fourth or Q4 of 2017-18) more than doubled to Rs 23.6 bn, from Rs 10.4 bn in Q4 of 2016-17.

Its gross non-performing assets (NPAs) stood at 27.95 per cent