IDBI Bank posts third straight quarterly loss; shares sink

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Published: August 14, 2017 3:05:01 PM

State-run lender IDBI Bank Ltd posted a third straight quarterly loss on lower interest income and higher bad loans.

IDBI, IDBI Bank, IDBI Bank loss, third quarterly loss, shares sink, higher bad loans, bad loans, loss on lower interest income, lower interest income, Gross bad loansIDBI Bank had posted a loss of nearly 32 billion rupees in the March quarter this year. (Image: Reuters)

State-run lender IDBI Bank Ltd posted a third straight quarterly loss on lower interest income and higher bad loans. Net loss was 8.53 billion rupees ($133.15 million) in the three months ended June 30, compared with a profit of 2.41 billion rupees a year earlier, the Mumbai-based bank said on Monday. IDBI Bank had posted a loss of nearly 32 billion rupees in the March quarter this year. Gross bad loans as a percentage of total loans rose to 24.11 percent at end-June from 21.25 percent at end-March and 11.92 percent a year earlier. Shares fell as much as 4.6 percent to their lowest in 18 months in trading after the results. ($1 = 64.0625 Indian rupees)

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