Andhra Bank posts Rs. 1,224 crores loss

Hyderabad: State-owned Andhra Bank on Monday reported narrowing of loss to Rs 1,233.61 crore for the fourth quarter ended March 31, mainly on account of reduction in non-performing assets.

The bank had booked a net loss of Rs 2,535.82 crore in the corresponding quarter of 2017-18.

The total income rose to Rs 5,313.53 crore in the March quarter, compared to Rs 5,092.62 crore in the year-ago period, Andhra Bank said.

The bank's gross NPA reduced to 16.21 per cent of total assets as compared to 17.09 per cent in the corresponding quarter of the previous fiscal.

Similarly, the net NPAs also eased to 5.73 per cent from 8.48 per cent in January-March quarter of 2017-18.

As a result provision for bad loans less than halved to Rs 2,341.06 crore during the quarter as compared to Rs 5,562.76 crore in the same period a year ago.