IDBI Bank posts Q4 loss of Rs5,663 crore

IDBI Bank reported Q4 loss of Rs5663 crore, as against a loss of Rs3,200 crore in the year-ago period

IDBI Bank’s gross NPAs as a percentage of total loans stood at 27.95% at end-March, compared with 24.72% in the previous quarter and 21.25% a year ago. Photo: Pradeep Gaur/Mint
IDBI Bank’s gross NPAs as a percentage of total loans stood at 27.95% at end-March, compared with 24.72% in the previous quarter and 21.25% a year ago. Photo: Pradeep Gaur/Mint

Bengaluru: The IDBI Bank Ltd reported a loss of Rs5,663 crore ($834.82 million) for the fourth quarter, hurt by higher provisions for bad loans.

That compared with a loss of Rs3,200 crore a year earlier, the state-run lender said in a statement on Friday.

Gross bad loans as a percentage of total loans stood at 27.95% at end-March, compared with 24.72% in the previous quarter and 21.25% a year ago.