IDBI Bank reported an ₹853-crore loss in the first quarter compared with a profit of ₹241 crore in the same period of the previous year. Almost a quarter of its loans have turned into non-performing assets. The bank had reported a loss of ₹3,200 crore in the Jan-March quarter.
Its gross non-performing assets almost doubled to ₹50,173 crore in one year with gross NPA ratio rising from 11.92% to 24.11%.
“Fresh slippages have reduced to ₹7,659 crore in Q1 FY 2018 compared to ₹11,531 crore in Q4 FY 2017,” said a statement.
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