August 14, 2018 / 9:20 AM / a year ago

India's IDBI Bank reports 7th straight qtrly loss

Aug 14 (Reuters) - IDBI Bank Ltd posted its seventh straight quarterly loss on Tuesday as mounting bad loans continued to weigh on the state-run lender.

Net loss was 24.10 billion rupees ($344.77 million) for the three months ended June 30, compared with a loss of 8.53 billion rupees a year earlier, the Mumbai-based bank said here

Gross bad loans as a percentage of total loans was 30.78 percent at the end of June, compared with 27.95 percent a quarter earlier, and 24.11 percent a year earlier.

$1 = 69.9025 Indian rupees Reporting by Chris Thomas and Tanvi Mehta in Bengaluru; Editing by Sunil Nair

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