Mumbai: State-run Indian Overseas Bank, which has the highest bad loan ratio among the nation's lenders, reported on Tuesday a first-quarter net loss of Rs 1,451 crore with a further rise in its sour assets.
Bad loans as a percentage of total loans rose to 20.48 per cent as of end-June from 17.4 per cent three months earlier, the bank said in a filing.
Provisions, including for bad loans, more than tripled from a year earlier to Rs 2,138 crore in the three months to June 30.
UCO Bank, another state-run lender, posted a first-quarter net loss of Rs 441 crore. Its gross bad loan ratio widened to 17.19 per cent as of end-June from 15.43 per cent at end-March.
United Bank of India, also a state-run lender, said its first-quarter net profit fell about 27 per cent from a year earlier to Rs 38.32 crore. Its gross bad loan ratio was 14.29 per cent as of end-June, compared with 13.26 per cent in March.
($1 = 66.8652 Indian rupees)
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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