Comments
Andhra Bank's net profit decreased 84.7 per cent at Rs 31 crore in the first quarter ended June 30, 2016 compared to Rs 203 crore in the corresponding quarter of previous financial year.
The net profit came down largely on account of steep rise in non-performing assets (NPAs) and subsequent provisions, Suresh N Patel, MD & CEO, Andhra Bank told newspersons at a press conference held here on Saturday.
The net and gross NPAs increased to 6.21 per cent and 10.30 per cent respectively.
The net interest margin was at 2.90 per cent .
The total income grew by 7.2 per cent at Rs 4,855 cr while net interest income increased 9.7 per cent at Rs 1,269 crore. The business grew by 13 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.