Indian Bank posts loss.
M2 EQUITYBITES-May 14, 2019--Indian Bank posts loss
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Global Banking News - 14 May 2019
Indian state-owned Indian Bank has posted a loss.
The firm has reported a net loss of INR1.89bn in the fourth quarter of the financial year ended March 2019. The firm said that the loss was caused because of provisions for high level of bad loans.
The firm had reported a net profit of INR1.31bn in the January-March quarter of 2017-18.
Gross non-performing assets (NPAs) reduced to 7.11 per cent of the gross advances by the end of March 2019.
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