IDBI Bank Q3 results: Loss widens to Rs 5,763 crore, but asset quality improves
The LIC-owned lender made Rs 6,523 35 crore as provisions for taxes during the quarter.
Public lender IDBI Bank on Tuesday said its loss widened to Rs 5,763.04 crore for the December quarter from Rs 4,185.48 crore in the year-ago period. The bank had repoted Rs 3,458.84 crore loss in the September quarter.
The LIC-owned lender made Rs 6,523 35 crore as provisions for taxes during the quarter, even provisions & contingencies stood mere at Rs 521.95 crore compared with Rs 6,530.75 crore in provisions in the year-ago period.
Gross non-performing assets (NPAs) for the quarter fell to 28.72 per cent from 29.43 per cent in September quarter and 29.67 per cent in the year-ago quarter.
In respect of RBI-referred NCLT accounts, the bank is holding provisions worth Rs 22,644.40 crore as on December 31, 2019.
The bank's Provision Coverage Ratio (PCR), including technical write-offs, stood higher at 92.41 per cent.
The LIC-owned lender made Rs 6,523 35 crore as provisions for taxes during the quarter, even provisions & contingencies stood mere at Rs 521.95 crore compared with Rs 6,530.75 crore in provisions in the year-ago period.
Gross non-performing assets (NPAs) for the quarter fell to 28.72 per cent from 29.43 per cent in September quarter and 29.67 per cent in the year-ago quarter.
In respect of RBI-referred NCLT accounts, the bank is holding provisions worth Rs 22,644.40 crore as on December 31, 2019.
The bank's Provision Coverage Ratio (PCR), including technical write-offs, stood higher at 92.41 per cent.