Tag Archives: loss

Bank of India posts ₹1,156 crore loss in Q2 on surging NPAs

Bank of India (BoI) on Monday reported losses of ₹1,156.25 crore for the September quarter as bad loans continued to mount and provisions soared. The bank was expecting to recover ₹1,800 crore from the NCLT (National Company Law Tribunal) accounts this quarter, but the resolution process was delayed. The bank had reported profit of ₹179.07 crore in the year-ago period. ... Read More »

Adani Power shares slump over 9% as Q3 loss widens

Shares of Adani Power on Thursday tumbled over 9% after the company’s consolidated loss doubled to Rs 1,290.7 crore in the October-December quarter of this fiscal. The stock dropped 9.21% to end at Rs 36.95 on BSE. Intra-day, it slumped 10.81% to Rs 36.30. On NSE, shares of the company dived 9.32% to close at Rs 36.95. The company’s market ... Read More »

TCS to wind up Lucknow operations, company says no job loss

Information technology major Tata Consultancy Services (TCS) has decided to close its operations in Lucknow and shift to Noida after 33 years in Uttar Pradesh’s capital city. The company will shift most of its projects to Noida, close to the national capital, by this December. At least 2,000 employees, of whom 50% are women, are likely to be affected by ... Read More »

RBS Why we should be angry at the Chancellor’s willingness to sell the taxpayer’s stake at a loss

Philip Hammond’s policy on Royal Bank of Scotland resembles that of a market trader with perishable goods to dispose of at the end of the day. Roll up, roll up. I’ve got a bank ’ere going cheap. Half price and three for two. Take this off my hands! It’s got to go! He didn’t quite put it that way when ... Read More »

RBS posts £2bn half-year loss and drops Williams & Glyn flotation

Royal Bank of Scotland has slumped to a £2bn half-year loss after taking a fresh hit for legal disputes, as it admitted costs will have to be cut to tackle the economic impact of the Brexit vote and the dwindling popularity of high street branches. The bank, which is 73% owned by the taxpayer and is on track for its ... Read More »

RBS reveals £1bn loss and Swiss inquiry into Coutts subsidiary

Bailed-out bank says regulator has started ‘enforcement proceedings’ against Swiss arm over certain client accounts People walk past the Coutts bank in Zurich, now under investigation by Swiss authorities. Photograph: Arnd Wiegmann/Reuters Royal Bank of Scotland has revealed that Swiss authorities are scrutinising its Coutts subsidiary as it reported a near £1bn loss for the first three months of 2016. ... Read More »