more-inState-run lender IDBI Bank reported loss for the sixth straight quarter even as the bank’s management assured that most of the bad loans have been recognised and could turn to black after the second quarter of the current financial year. This is the second highest quarterly loss after Punjab National Bank, which posted ₹13,417 crore loss in the same quarter. Jain, MD and CEO of IDBI Bank, in the post earnings media interaction. To clean up the balance sheet further, the bank board has approved sale of bad loans of more than ₹21,000 crore. Mr. Jain said IDBI Capital would divest about 26-30% stake to a strategic partner.

Source: The Hindu May 25, 2018 16:47 UTC