New Delhi : State-owned IDBI Bank on Tuesday reported widening of loss to Rs 2,409.89 crore for the first quarter ended June 30, hurt by higher provisioning for bad loans.
The bank had posted a loss of Rs 853 crore in the April-June quarter of last fiscal, 2017-18. Its total provisioning for non-performing assets (NPAs) or bad loans more than doubled to Rs 5,236.07 crore during the first quarter of 2018-19, from Rs 2,035.96 crore in the year-ago period.The provision for bad loan alone was Rs 4,602.55 crore, as against Rs 1,873.21 crore.
