Andhra Bank posts Rs 532 cr loss in Q3

G Naga Sridhar

Hyderabad, Feb 9

Andhra Bank has posted Rs 532 cr loss in the third quarter ended December 31, 2017 on account of higher provisions for bad loans. In the year-ago period, it earned Rs 57 crore net profit. In a release, Andhra Bank said there was 118 per cent increase in provisions and contingencies in the quarter under review at Rs 1,862 crore (Rs 853 crore last year). The gross non-performing assets and net NPAs too have gone up to 14.26 per cent (11.88 per cent) and 7.72 per cent (6.98 per cent) respectively.

On Friday, the stock was trading 2.54 per cent lower at Rs 46 on the BSE at about 10.15 am.

Published on February 09, 2018
TOPICS
Andhra Bank

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