IDBI shares hit public banks face bad loans

IDBI-SHARES-HIT-PUBLIC-BANKS-FACE-BAD-LOANS:IDBI shares hit public banks face bad loans

 

Reuters Market Eye - IDBI Bank shares fall 1.9 percent, a day after the public sector lender posted a lower-than-expected April-June net profit of 7.71 billion Indian rupees.

Analysts say the lender faced higher provisioning expenses of 5.07 billion rupees in the previous quarter, after gross and net non-performing asset levels rose by 3.2 percent and 2.1 percent, respectively.

Last week state-run lenders, including Punjab National Bank PNBK.NS> and Central Bank of India reported a rise in bad loans, sending their shares sharply lower.