MUMBAI: Public sector lender Corporation Bank on Friday stated its loss widened to Rs 6,581.49 crore during the fourth quarter ended March 31, basically because of higher provisioning for dangerous loans.
The bank had reported lack of Rs 1,838.39 crore during January-March quarter of 2017-18.
The total income of Corporation Bank during the fourth quarter of 2018-19 stood at Rs 4,187.65 crore down from Rs 4,642.45 crore in the same length of the former fiscal, the lender stated in a regulatory submitting.
The bank, alternatively has reported reduction in non-performing belongings (NPAs).
The gross NPA as a proportion of total advances was once 15.35 in step with cent compared to 17.35 in step with cent during fourth quarter of 2017-18.
The bank has made a provision of Rs 8,505.87 crore for NPAs nearly double from Rs 4,441.29 crore within the year-ago quarter.
Corporation Bank's net loss stood at Rs 6,325.29 crore during the year 2018-19, as against Rs 4,049.93 crore within the preceding fiscal.
The shares of Corporation Bank closed at Rs 25.50 a piece on BSE, nearly flat over on Thursday close.
The bank had reported lack of Rs 1,838.39 crore during January-March quarter of 2017-18.
The total income of Corporation Bank during the fourth quarter of 2018-19 stood at Rs 4,187.65 crore down from Rs 4,642.45 crore in the same length of the former fiscal, the lender stated in a regulatory submitting.
The bank, alternatively has reported reduction in non-performing belongings (NPAs).
The gross NPA as a proportion of total advances was once 15.35 in step with cent compared to 17.35 in step with cent during fourth quarter of 2017-18.
The bank has made a provision of Rs 8,505.87 crore for NPAs nearly double from Rs 4,441.29 crore within the year-ago quarter.
Corporation Bank's net loss stood at Rs 6,325.29 crore during the year 2018-19, as against Rs 4,049.93 crore within the preceding fiscal.
The shares of Corporation Bank closed at Rs 25.50 a piece on BSE, nearly flat over on Thursday close.
Corporation Bank posts loss of Rs 6,581 cr in Q4
![Corporation Bank posts loss of Rs 6,581 cr in Q4]()
Reviewed by Kailash
on
May 18, 2019
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