Andhra Bank Q2 loss mounts to Rs 434 cr

Hyderabad: State-run Andhra Bank on Monday logged a higher loss of Rs 434 crore for the second quarter ended September 30, 2018, as against a loss of Rs 385 crore in the year ago period.

This was despite a 5% increase in total income of the bank during the quarter ended September 30, 2018, at Rs 5,249 crore as compared to Rs 5,005 crore in the corresponding quarter of FY18. The net interest income of the bank too shot up by 15.12% to Rs 1,728 crore from Rs 1,501 crore.

The gross non-performing assets (NPAs) of the bank during the second quarter of FY19 stood at Rs 27,623 crore and the net NPA stood at Rs 11,428 crore. The provisions and contingencies of the bank during the second quarter of FY19 increased 3% to Rs 1,732 crore as against Rs 1,680 crore in the corresponding quarter of FY18.