Tuesday, 22 October, 2019

Andhra Bank posts Rs 532 cr loss in Q3

Andhra Bank posts Rs 532 cr loss in Q3 Andhra Bank posts Rs 532 cr loss in Q3
Russell Knight | 09 February, 2018, 17:22

On Friday, the lender's scrip on BSE closed 1.68% lower at Rs 296.40.

Net profit came in at 1.12 billion rupees ($17.4 million) for the quarter ended December 31, compared with 2.53 billion rupees a year ago, said the country's third-largest state-run lender by assets.

Provisions and contingencies figures showed an increase of 111 per cent year-on-year to Rs 18876.21 crore for the quarter against Rs 8,942.83 crore in the same period last year.

Of the above amount, total provisions against non-performing loans were Rs 17,759.72 crore for the period under review, up from Rs 7,244.55 crore provided during the corresponding period of the previous year. Gross non-performing assets (NPAs) of the bank reached 11.31% of the gross advances by the end of December 2017 from 11.40 % in the same period a year ago. Net NPAs or bad loans, however, fell to 4.97% of the net advances by the end of third quarter for this fiscal from 5.43% in year ago period.

North Korea has 'no intention' to meet USA officials during Olympics
Pence has repeatedly left open the possibility of an encounter at the Games, but said the US had not requested a meeting. And women's ice hockey players from both Koreas will compete as one team.

Leader of Legislative Women's Caucus Accused of Sexual Harassment
When the legislation was introduced last fall, Garcia vowed not to work with any lawmakers who had been accused of sexual harassment.

(NASDAQ:SBUX) Stake Increased by Zeke Capital Advisors LLC
After $0.10 actual EPS reported by FARO Technologies, Inc. for the previous quarter, Wall Street now forecasts 260.00% EPS growth. Foundry Prns Ltd Liability Corp reported 7,550 shares stake. 51,698 are owned by Consolidated Invest Grp Incorporated Lc.

Net Interest Income (NII) stood at Rs 18,687.52 crore this quarter, witnessing a growth of 26.68% from Rs 14,751.59 crore in Q3FY17.

In absolute value, it was at Rs19,852.15 crore, as against Rs19,006.33 crore.

Similarly, its net non-performing assets nearly doubled to Rs 102,370.12 crore, up from Rs 61,430.45 crore, State Bank of India said in an exchange filing.

Provision coverage ratio stood at 65.92% as of December 2017. The interest income, at ₹4,549 crore, was an increase of 3%, while the net interest margin was 3.46% (2.66%).

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