"The spread of Covid-19 across the globe has resulted in a decline in the economic activity and increase in volatility in financil markets.
The extent to which the Covid-19 pandemic will impact the bank's future results will depend on related deveopments, which remain highly uncertain. Despite these conditions, there is not likely to be any significant impact on the bank's liquidity," the management said in a statement.
On asset front, bank's gross non-performing assets (NPAs) fell to 6.89 per cent of the gross advances as on June 30, 2020, from 7.61 per cent a year ago. In absolute terms, gross NPAs were at Rs 464.45 crore as against Rs 496.48 crore.
Net NPAs reduced to 2.18 per cent (Rs 140 crore) from 2.35 per cent (Rs 145.20 crore).
At 2:45 pm, the stock was down 4.7 per cent at Rs 12.35 on the BSE, as against 746 points, or 2 per cent, rise in the S&P BSE Sensex.
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