Indian Bank Q4 net loss at Rs 190 crore

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Published: May 16, 2019 2:51:22 AM

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

Indian Bank Q4 net loss at Rs 190 croreIndian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets. The total income of the bank, however, stood at `5,537.46 crore compared to `4,954.20 crore, registering an increase of 11.8%. Padmaja Chunduru, MD & CEO, said that the net loss in Q4 was due to provisioning of `220 crore made towards IL&FS and another group. In Q3 also, provisioning for IL&FS loans had hit the bottomline of the bank with the lender registering a 49.8% decline in its net profit at `152 crore.

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