Non Performing Assets in the banking sector has inflated by 32 percent and reached to Rs 3.46 lakh crore in Financial Year 2018-19, in absolute terms.
The 20 banks that declared their earnings for the March quarter reported a collective rise to 8.32 per cent in terms of their NPAs, reported CARE Ratings.
Out of the 20 banks, 11 belong to the private sector and 9 were public lenders. Their collective NPAs constituted 7.17 percent of their loans, at the end of March last year.
The share of NPA ratio, increased for all banks except Yes Bank and Kotak Mahindra Bank in the private sector, and Vijaya Bank and Indian Bank within the state-owned ones. Axis Bank reported the highest rise in terms of NPA ratio in private sector.
The banks that reported rise in NPA ratio over the last year were UCO Bank (7.52 percent of total loans), Dena Bank (5.77 percent), Union Bank (4.56 percent), Oriental Bank of Commerce (3.90 percent), Allahabad Bank (2.87 percent) and Bank of Maharashtra (2.55 percent).
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