The state-run IDBI Bank on Friday reported fourth quarterly loss to the tune of Rs. 5663 crore vs Rs. 3199 crore net loss posted in the same quarter a year ago.
The gross NPA at the bank has also inched higher to 27.95% in comparison to 24.72% on a sequential basis in the previous quarter ended December. On a year on year basis, the gross NPA hence increased from Rs 44752.59 crore to Rs 55,588.26 crore.
The net interest income or NII for the bank dropped down by a huge 44% from Rs. 1,633 crore reported in the corresponding quarter a year ago to Rs. 915.4 crore in the period under review.
There was also a rise in net NPAs from 16.02% in quarter ended December to 16.69% in the last quarter that ended in March. In q4FY17, net non-performing assets stood lower at 13.21%
Provisions for bad loans also increase in line to Rs. 10,544.34 crore in the quarter under study as against the previous quarter wherein it came at Rs. 4655.80 crore.