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Allahabad Bank's Q4 loss widens to 3,834 crores

Allahabad Bank
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Allahabad Bank on Friday reported widening of net loss to Rs 3,834.07 crore during the fourth quarter of 2018-19 financial year due to mounting bad loans.

New Delhi: Allahabad Bank on Friday reported widening of net loss to Rs 3,834.07 crore during the fourth quarter of 2018-19 financial year due to mounting bad loans.

The public sector lender's net loss in the year-ago period stood at Rs 3,509.63 crore.

However, total income during the March quarter of 2018-19 grew to Rs 4,602.86 crore from Rs 4,259.37 crore in the year-ago period, the bank said in a regulatory filing.

For entire 2018-19 financial year, the bank's net loss expanded to Rs 8,457.38 crore from Rs 4,574.22 crore in the previous year.

Total income during the last fiscal was down at Rs 18,806.38 crore as against Rs 19,487.51 crore a year ago.

The bank's gross non-performing assets (NPAs) shot up to 17.55 per cent of gross advances by March 2019 from 15.96 per cent by March 2018.

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