New Delhi: kingdom-owned organization financial institution on Wednesday posted a internet lack ofRs.510.nine crore for the closing quarter of 2015-sixteen monetary because of upward thrust in provisions for bad loans. The financial institution had a net profit of Rs.forty five crore inside theJanuary-March zone of 2014-15, employer financial institution stated in a assertion.
The financial institution’s provision at some point of the sector doubled to Rs.1,960.20 crore as towardsRs.926.49 crore inside the equal period a year in the past. total profits of the financial institutiondeclined to Rs.five,218.sixty two crore inside the January-March sector, as against Rs.5,385.28 crorewithin the 12 months–ago period.
For the whole 2015-sixteen, the financial institution recorded a loss of Rs.506.48 crore, compared to Rs. 584.25 crore earnings inside the preceding economic. but, general earnings rose to Rs.21,146.39 crorewithin the remaining economic 12 months from Rs.21,038.09 crore in 2014-l5.
As a ways as asset high-quality of the financial institution is concerned, the gross NPAs as a percentageto general advances rose to nine.98% from 4.eighty one% within the same region a yr in the past. Its netNPAs additionally increased to 6.53%, from three.08% at the give up of March 2015.
