Allahabad Bank’s net loss widens to Rs 3,834.07 cr in Q4

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Kolkata, May 10 (IANS) State-run Allahabad Bank on Friday said it has posted a net loss of Rs 3,834.07 crore in the fourth quarter of the financial year 2018-19 (FY 19), widening from a net loss of Rs 3,509.63 crore in the year-ago period.

The lender’s operating profit, in the quarter under review, stood at Rs 634.26 crore up from Rs 122.9 crore in the corresponding period of the financial year 2017-18 (FY18).

It said provision for bad loans increased to Rs 5,278.88 crore in the quarter ended March, 31, 2019 from Rs 5126 crore in same quarter of previous fiscal.

The bank’s capital adequacy ratio stood at Rs 12.51 per cent at the end of FY19, improving from 10.42 per cent in the December quarter.

–IANS

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