Andhra Bank has reported a narrowing of loss to nearly ₹1,234 crore during the quarter ended March on the back of reduction in non-performing assets, provisions made that were relatively less and increase in the interest income.

In comparison, the standalone loss of the public sector lender during the year earlier period was ₹ 2,536 crore. Total income of the bank for the quarter under review increased 4.33% to ₹ 5,313.53 crore (₹5,092.62 crore), while the net interest income was 5.36% higher at ₹4,853 crore (₹4,606 crore).

Net NPA (non-performing assets) were 5.73% as against 8.48% in the corresponding quarter of previous fiscal. Gross NPA also reduced to 16.21% (17.09%). The bank made provisions totalling ₹2,522 crore (₹3,902 crore). For the fiscal (2018-19), the bank’s standalone loss was ₹2,786 crore or 18.37% lower compared to the ₹3,413 crore in 2017-18. Total income for the year at ₹20,984 crore was an increase of 5.22% over the previous fiscal’s ₹19,858 crore. A release from the bank said total business last fiscal was ₹3,98,511 crore or a growth of 6.95% compared to ₹3,72,605 crore of 2017-18.