IDBI Bank posts seventh quarterly loss as bad loans rise
Indian state-run lender IDBI Bank Ltd posted a seventh straight quarterly loss on Tuesday, sending its shares lower, as the bank continues to be plagued by the highest bad loan ratio in the sector.
IDBI`s gross bad loans as a percentage of total loans were 30.78 percent at the end of June, compared with 27.95 percent in the preceding quarter, and 24.11 percent a year earlier. Image source: Reuters