On Wednesday IDBI Bank Posts Eighth Straight Quarterly Loss

Updated 7 Years Ago

IDBI Bank Ltd posted its eighth straight quarterly loss on Wednesday, as the state-run lender set aside more funds for bad loans. Net loss was 36.02 billion rupees ($499.03 million) for the three months ended Sept. 30, compared with a loss of 1.98 billion rupees a year earlier. This is the bank's longest streak of quarterly losses since at least 2005. Provisions for bad loans at IDBI Bank, which has the highest bad loan ratio in the sector, jumped 92.9 percent to 54.82 billion rupees, leading to a doubling in total provisions. Gross bad loans as a percentage of total

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Anurag Panchal's MCR WORLD

On Wednesday IDBI Bank Posts Eighth Straight Quarterly Loss

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