MUMBAI: Public sector lender Corporation Bank Friday said its loss widened to ₹6,581.49 crore during the fourth quarter ended March 31, mainly due to higher provisioning for bad loans. The bank had reported loss of ₹1,838.39 crore during January-March quarter of 2017-18. The bank has made a provision of ₹8,505.87 crore for NPAs almost double from ₹4,441.29 crore in the year-ago quarter. Corporation Bank's net loss stood at ₹6,325.29 crore during the year 2018-19, as against ₹4,049.93 crore in the preceding fiscal. The shares of Corporation Bank closed at ₹25.50 a piece on BSE, almost flat over Thursday close.

Source: Mint May 17, 2019 15:00 UTC