October 24, 2018 / 2:02 PM / in 24 days

India's IDFC Bank posts first qtrly loss since market debut

Oct 24 (Reuters) - IDFC Bank Ltd on Wednesday posted its first quarterly loss since its stock market debut in November 2015, as the bank set aside funds to comply with regulatory norms.

The bank's net loss was 3.70 billion rupees ($50.59 million) for the quarter ended Sept. 30, compared with a profit of 2.34 billion rupees a year ago, the private sector lender said in a statement here

Gross bad loans as a percentage of total loans narrowed to 1.63 percent at September-end, compared with 3.24 percent in the preceding quarter and 3.92 percent in the same period a year ago. ($1 = 73.1300 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Shailesh Kuber)

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