NEW DELHI: Allahabad Bank on Friday reported widening of net loss to ₹3,834.07 crore during the fourth quarter of 2018-19 financial year due to mounting bad loans. However, total income during the March quarter of 2018-19 grew to ₹4,602.86 crore from ₹4,259.37 crore in the year-ago period, the bank said in a regulatory filing. For entire 2018-19 financial year, the bank's net loss expanded to ₹8,457.38 crore from ₹4,574.22 crore in the previous year. Total income during the last fiscal was down at ₹18,806.38 crore as against ₹19,487.51 crore a year ago. In value terms, gross NPAs stood at ₹28,704.78 crore by end of the last fiscal as against ₹26,562.79 crore by 2017-18.

Source: Mint May 10, 2019 12:33 UTC