Andhra Bank Posts Rs 1,234-cr Net Loss In Q4

Andhra Bank has posted a net loss of Rs 1,234 crore in the fourth quarter ended March 31, 2019.

Compared to a net loss of Rs 2,536 crore in the fourth quarter of 2017-18, the bank’s net loss came down by 51 per cent in the quarter under review, according to a release.

Provisions during the quarter stood at Rs 2,522 crore (Rs 3,902 crore). Net interest income increased by 5.87 per cent at Rs 1,821 crore, according to a release.

For the full year 2018-19, net loss came down by 18.37 per cent at Rs 2,786 crore, as against Rs 3,413 crore in the previous financial year.

The total business increased by 6.95 per cent, while total deposits and gross advances went up by 5.65 per cent and 8.60 per cent respectively.

The gross and net non-performing assets ratios were at 16.21 per cent and 5.73 per cent respectively.