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Andhra Bank Q3 net jumps 65%
Highlights
Public sector lender, Andhra Bank, has reported a 65 per cent surge in its net profit to Rs 56.70 crore for the third quarter ended December 2016, primarily on account of higher treasury income even as bad loans rose substantially.
Hyderabad: Public sector lender, Andhra Bank, has reported a 65 per cent surge in its net profit to Rs 56.70 crore for the third quarter ended December 2016, primarily on account of higher treasury income even as bad loans rose substantially. The bank garnered a net profit of Rs 34.46 crore during the same period a year ago.
Total income has increased to Rs 5,012.86 cr during the quarter under review, as compared with Rs 4,801.40 cr in the corresponding previous quarter, the bank said on Friday. The bank’s slippages during Q3 as gross NPAs or bad loans grew to 11.88 per cent of the gross advances, reflecting an increase of seven per cent.
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