{"id":37562,"date":"2018-07-28T11:58:00","date_gmt":"2018-07-28T11:58:00","guid":{"rendered":"http:\/\/blastingskyhawk.com\/?p=37562"},"modified":"2018-07-28T11:58:00","modified_gmt":"2018-07-28T11:58:00","slug":"icici-bank-posts-first-quarterly-loss-in-at-least-16-years","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/icici-bank-posts-first-quarterly-loss-in-at-least-16-years\/","title":{"rendered":"ICICI Bank posts first quarterly loss in at least 16 years"},"content":{"rendered":"<p>ICICI Bank Ltd, India\u2019s third-largest lender by assets, reported its first quarterly net loss in at least 16 years on Friday on higher provisions for bad loans and hurt by bond losses.<\/p>\n<p>Net loss was Rs 120 crore in the three months to June 30, compared with a profit of Rs 2049 crore a year earlier, the bank said in a statement.<\/p>\n<p>Analysts on average had expected a net profit of Rs 1462 crore , according to Thomson Reuters I\/B\/E\/S.<\/p>\n<p>Gross bad loans as a percentage of total loans was 8.81 percent at the end of June, compared with 8.84 percent at the end of the previous quarter, and 7.99 percent a year earlier.<\/p>\n<p>The results come amid uncertainties around the bank\u2019s long-serving Chief Executive Chanda Kochhar, who is on leave as a probe continues into alleged nepotism charges against her.<\/p>\n<p>ICICI Bank, which holds the highest amount of bad loans among the country\u2019s private-sector lenders, added Rs 4036 crore in additional non-performing loans during the quarter, taking its total outstanding to Rs 53465 crore.<\/p>\n<p>Even if the bad loan additions in the June quarter were the slowest in 11 quarters, the bank said it had to make higher provisions for ageing non-performing loans and cases in bankruptcy court, leading to the net loss.<\/p>\n<p>Total provisions more than doubled from a year earlier to Rs 5971 crore with the bank not availing a central bank dispensation of spreading bond losses over four quarters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ICICI Bank Ltd, India\u2019s third-largest lender by assets, reported its first quarterly net loss in at least 16 years on Friday on higher [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[410],"tags":[],"class_list":["post-37562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/37562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=37562"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/37562\/revisions"}],"predecessor-version":[{"id":37564,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/37562\/revisions\/37564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/37563"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=37562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=37562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=37562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}