Lender marks loan as NPA, makes ₹384.95 crore provision
Private sector lender Bandhan Bank reported a lower-than-expected 10.3% growth in net profit to ₹331.26 crore for the quarter ended December as it classified loans given to troubled infrastructure developer IL&FS Group as non-performing.
“Provision of ₹384.95 crore made in respect of an exposure to a borrower from infrastructure development and finance sector, which was classified as non-performing asset and fully provided for during the quarter,” the lender said while announcing its earnings for the third quarter.
Gross NPA ratio increased to 2.4% as on December compared with 1.7% in the year-earlier period and 1.3% sequentially. Read More