Nine public lenders reported losses in 2016-17

New Delhi, July 18 (IANS) Out of 22 public sector banks (PSBs), nine lenders, led by IDBI Bank, had reported losses in 2016-17, parliament was told on Tuesday.

IDBI Bank reported Rs 5,158 crore loss, the highest by any PSB, in the last financial year, Minister of State for Finance Santosh Kumar Gangwar told the Rajya Sabha in a written reply.

During 2016-17, Allahabad Bank reported Rs 314 crore loss, Bank of India Rs 1,558 crore, Bank of Maharashtra Rs 1,373 crore, Central Bank of India Rs 2,439 crore, Dena Bank Rs 864 crore, Indian Overseas Bank Rs 3,417 crore, Oriental Bank of Commerce Rs 1,094 crore while Uco Bank reported a loss of Rs 1,851 crore, he added.

However, all the PSBs are maintaining a positive balance in revenue reserves, he said.

During 2015-16, 13 out of the 21 PSBs had reported losses, led by Bank of India which reported Rs 6,089 crore loss.

Other banks which reported losses in 2015-16 are Allahabad Bank, Rs 743 crore loss, Bank of Baroda Rs 5,396 crore, Canara Bank Rs 2,813 crore, Central Bank of India Rs 1,418 crore, Corporation Bank Rs 506 crore, Dena Bank Rs 935 crore, IDBI Bank Rs 3,665 crore, Indian Overseas Bank Rs 2,897 crore, Punjab National Bank Rs 3,974 crore, Syndicate Bank Rs 1,643 crore, Uco Bank Rs 2,799 crore and United Bank of India with a Rs 282 crore loss.

–IANS

mm/vd

Related Posts

Leave a Reply