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Allahabad Bank reports net loss of Rs 1,263.79 crore in Q3

14 Feb 2018 Evaluate

Allahabad Bank has reported results for third quarter ended December 31, 2017.

The Bank has reported net loss of Rs 1,263.79 crore for the quarter under review as compared to net profit of Rs 75.26 crore for the same quarter in the previous year. Total income of the Bank decreased by 5.37% at Rs 4755.33 crore for Q3FY18 as compared Rs 5025.13 crore for the corresponding quarter previous year. 

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 14.38%, as compared to 12.51% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 8.97% in Q3FY18.

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