Live
- Woman’s False Claim Sparks Unnecessary Panic
- Locals Report Naxal Activity in Karkala Village
- Mangaluru International Airport Sets New Records in Passenger and Flight Movements
- Where Areca failed, grow Coffee
- Collector Badavath Santosh Reviews Household Survey and Listing Process
- Awareness Session on SHE Team and POCSO Act
- Awareness Program in agricultural College on the Dangers of Drug Abuse for Youth
- 3500-Year-Old Menhir in Kamsanpally Village: A Call for Preservation
- The Role of Artificial Intelligence in Radiology: Transforming Diagnosis and Patient Care
- Hindustan Zinc Ltd. Signs MoU with Rajasthan Government to Invest Rs 36 Crores in Education Development
Allahabad Bank Q3 net loss narrows to Rs 733 cr
Stateowned Allahabad Bank on Wednesday reported narrowed net loss at Rs 73281 crore for third quarter ended December of the current financial year due to reduction in bad loan provisions
​New Delhi: State-owned Allahabad Bank on Wednesday reported narrowed net loss at Rs 732.81 crore for third quarter ended December of the current financial year due to reduction in bad loan provisions.
The bank had posted a net loss of Rs 1,263.79 crore in the same period of the previous fiscal. Total income was nearly flat at Rs 4,756.88 crore for December quarter of 2018-19, as against Rs 4,755.33 crore in the same period of 2017-18, Allahabad Bank said in a regulatory filing.
On the asset front, the bank witnessed rise in its gross non-performing assets (NPAs) at 17.81 per cent of the gross advances as at December-end 2018, as against 14.38 per cent by December 2017.
In value terms, gross NPAs or bad loans stood at Rs 28,218.79 crore, higher than Rs 23,260.81 crore a year ago. However, the net NPAs were brought down to 7.70 per cent (Rs 10,865.26 crore) from 8.97 per cent (Rs 13,646.52 crore).
The provisions for bad loans also reduced to Rs 1,900 crore for the reported quarter, as against Rs 2,044.23 crore a year ago. The overall provisions and contingencies were at Rs 1,495.34 crore, down from Rs 2,413.46 crore.
For accounts under provisions of Insolvency and Bankruptcy Code (IBC), the bank is holding provision of Rs 4,887.17 crore (75 per cent of total outstanding as on December 31, 2018, it said.
