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IDBI shares hit; public banks face bad loans
August 1, 2012 / 6:12 AM / 5 years ago

IDBI shares hit; public banks face bad loans

Reuters Market Eye - IDBI Bank(IDBI.NS) shares fall 1.9 percent, a day after the public sector lender posted a lower-than-expected April-June net profit of 7.71 billion Indian rupees.

Analysts say the lender faced higher provisioning expenses of 5.07 billion rupees in the previous quarter, after gross and net non-performing asset levels rose by 3.2 percent and 2.1 percent, respectively.

Last week state-run lenders, including Punjab National Bank PNBK.NS> and Central Bank of India (CBI.NS) reported a rise in bad loans, sending their shares sharply lower.

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