Bangalore-based public sector lender Vijaya Bank today reported a decline in performance during the first quarter of the current financial year (2008-09) with the bottomline going into the red and a rise in net non-performing assets.
The bank posted a net loss of Rs 76.64 crore for the first quarter ended June 30 compared to Rs 111.35 crore in the corresponding quarter of last financial year. The loss in net profit was mainly attributed to the mark-to-market provisioning of Rs 190 crore made on the investment portfolio covering government bonds, equity and equity-linked mutual funds.
