India’s largest bank’s profits after tax slipped by 61% in Q3!
The profits of the bank in the said quarter have fallen 61% down as compared to Sep-Dec 2014, because of a sharp rise it made in its bad loans provisions. On the other hand, the bank’s shares were traded at Rs 163 up 2.5% over what closed down on Wednesday.
The bank's gross NPAs touched Rs 72,792 crore (or 5.1%) of the total loans it has, which fell to 2.8% after making provisions of Rs 7,949 crore.
While bank’s total advances rose 7% to Rs 13.9 lakh crore, the deposits rose 6% to Rs 16.9 lakh crore.
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