ICICI Bank on Friday posted a net loss of Rs 119.55 crore for the quarter finished June against the benefit of Rs 2,049 crore in the relating quarter a year ago.
Provisions of the private division moneylender bounced 128.86 percent YoY to Rs 5971 crore for the quarter under survey.
Resource nature of the loan specialist enhanced with a level of gross non-performing resources (NPA) coming in at 8.81 percent in Q1FY19 more than 8.84 percent in the successive quarter finished March 2018. Percent of net NPA facilitated to 4.19 percent from 4.77 percent amid a similar period.
Net premium pay (NII) of the bank hopped 9.16 percent YoY to Rs 6,102 crore in Q1FY19 against Rs 5,590 crore in a similar period a year ago.
Stamp to-advertise misfortunes on the AFS and HFT portfolio accumulated Rs 219 crore in Q1FY19. “While RBI had enabled the banks to spread such provisioning for such stamp to-showcase misfortunes over up to four quarters, the Bank accommodated such misfortunes in Q1-2019 itself,” ICICI Bank said in a discharge.
Net intrigue edge remained at 3.19 percent in Q1FY19 more than 3.23 percent in FY2018.
As per the report from the India Times, “While the gross options to NPA remained at Rs 4,036 crore were the most reduced in the last 11 quarters, extra provisions on existing NPAs according to Reserve Bank of India (RBI) rules (maturing based provisions and provisions for cases guided by RBI to be alluded to the National Company Law Tribunal) brought about aggregate provisions of Rs 5,971 crore and a net loss of Rs 120 crore in Q1-2019, as per ICICI Bank.”
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