After reporting a net loss of Rs 1,822.71 crore in the September quarter of 2018-19 financial year, on higher provisioning for bad loans, state-owned Allahabad Bank on Tuesday said it's hopeful of controlling fresh slippages in the next two quarters.

In an interview to CNBC-TV18, SS Mallikarjuna Rao, managing director and chief executive officer, said Rs 1,000 crore may fall into non-performing assets (NPA) from corporate account in the future.

Rao said, "We are very confident that we will be able to control the gross NPA at a position of Rs 26,000 crore and when we are looking at a gross advances figure at Rs 1,60,000 crore, the gross NPA percentage should be less than 16 percent by March."

"Bank recovered around Rs 571 crore in the current quarter and considering the upgradation, it comes to around Rs 742 crore. It was definitely little less than what we had expected. Our expectation was around Rs 1,000-1,100 crore. However, the efforts which are currently in place in Q3 are already yielding results," he added.

First Published:Nov 13, 2018 7:14 PM IST