Allahabad Bank's Q2 net loss at Rs 1,823 crore on higher provisioning
The bank had posted a net profit of Rs 70 crore during the corresponding quarter of previous year.
The bank's interest income in the quarter under review fell by about 4.5 per cent to Rs 4,000 crore from Rs 4,190 crore in the year-ago period.
The lender said its total provision for bad assets went up to Rs 1,992 crore in the three months through September, against Rs 1,470 crore during the corresponding quarter of previous year.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)