(Reuters) - IDBI Bank Ltd posted a fifth straight quarterly loss on Wednesday as provisions for bad loans rose in the period.
Net Loss for the quarter ending Dec.31 narrowed to 15.24 billion rupees ($239.63 million), from 22.55 billion rupees in the corresponding quarter a year earlier. bit.ly/2BFI6JKGross bad loans as a percentage of total loans stood at 24.72 percent at end-December, compared with 24.98 percent in the previous quarter and 15.16 percent a year ago.
Provisions for bad loans grew 16.4 percent to 36.50 billion rupees.
($1 = 63.5975 Indian rupees)
Reporting by Krishna V Kurup and Arnab Paul in Bengaluru; Editing by Vyas Mohan