Public Sector Banks
Private Sector Banks
Results of Indian Public & Private Sector Banks for Q1 2016-17
Private Sector Banks
Private Sector Banks
Bank of Maharashtra Q1 Result, Loss at Rs 397 cr
Bank of Maharashtra on Friday reported a net loss of Rs.397.40 crore for the June quarter against a net profit of Rs.59.44 crore a year ago.
Four other banks—namely Dena Bank, Central Bank of India, Bank of India, and Allahabad Bank—also reported a net loss on Friday.
Net interest income, or the core income a bank earns by giving loans, declined sharply to Rs.864.49 crore for the June quarter from Rs.1,023.2 crore a year ago.
Gross non-performing assets (NPAs) rose to Rs.13,039.63 crore in the first fiscal quarter from Rs.7,574.86 crore a year ago.
Oriental Bank of Commerce Q1 Result, Profit falls 61% to Rs100 crore
Oriental Bank of Commerce Bank on Friday reported a 60.94% decrease in its first quarter net profit.
Net profit declined to Rs.100.69 crore in the quarter ended 30 June from Rs.257.84 crore a year ago on account of higher provisions and lower operating profit.
Provisions increased to Rs.750.40 crore for the June quarter compared to Rs.577.65 crore last year, while operating profit declined from Rs.1,044.49 crore last June to Rs.917.09 crore this June.
Out of total provisions, the bank provided outstanding provision of Rs.36.04 crore for a loan availed by the government of Punjab under the food credit program in the first quarter for which the outstanding amount was Rs.740 crore as on 30 June.
The provision coverage ratio for the bank stood at 49.33% for the June quarter.
According to a Bloomberg poll of six analysts, the bank was expected to post a net profit of Rs.91.56 crore for the June quarter.
Allahabad Bank Q1 Result, Posts Rs 564.96 crore loss
Allahabad Bank on Friday reported a Rs.564.96 crore net loss for the quarter ended June against a Rs.146.86 crore net profit a year ago.
The bank made provisions of Rs.1,330.78 crore for the quarter compared with Rs.854.79 crore a year ago. Its operating profit declined to Rs.967.44 crore in the April-June period from Rs.1,241.50 a year ago. Loan provision coverage ratio stood at 46.03% as on 30 June.
According to a Bloomberg poll of four analysts, the bank was expected to post a net loss of Rs.15.27 crore for the June quarter.
Net interest income decreased to Rs.1,393.2 crore for the June quarter compared with Rs.1,587.11 crore a year ago.
Gross non-performing assets (NPAs) rose to Rs.19,208.62 crore from Rs.7,987.44 crore a year ago.
As a percentage of total loans, gross NPAs stood at 12.33% at the end of the quarter, compared with 9.76% in the previous quarter and 5.29% in the year-ago quarter. Net NPAs stood at 8.69% for fiscal first quarter compared with 3.67% last year.
Dena Bank Q1 result, Net loss at Rs 279 crore
Dena Bank on Friday reported a net loss of Rs.279.35 crore in the June quarter against a net profit of Rs.15.16 crore a year ago as it set aside more money to cover bad loans.
Operating profit increased to Rs.270.44 crore in the three months from Rs.226.30 crore in the same period last year.
Provisions increased to Rs.666.85 crore in the fiscal year first quarter from Rs.324.75 crore a year ago. The provision coverage ratio was 52.13%.
Out of total provisions, the bank set aside Rs.19.03 crore for a loan availed by the government of Punjab under its food credit programme. The outstanding loan amount stood at Rs.397.21 crore as of 30 June.
Net interest income decreased slightly to Rs.620.88 crore in the quarter from Rs.628.19 crore a year ago.
State Bank of India Q1 Result, Profit drops 31.72 per cent at Rs 2520.96 cr
State Bank of India reported 31.7 per cent year-on-year (YoY) drop in the standalone net profit for the quarter ended June 30 to Rs 2,520 crore was higher than ETNow estimate of Rs 2,475 crore. The largest public sector bank had reported a net profit of Rs 3,692.43 crore in the corresponding quarter of last financial year.
Net interest income (NII): Net interest income (NII) or the difference between revenue earned from the bank's assets and the expenses associated with paying out liabilities rose 6.4 per cent on a year-on-year basis (YoY) to Rs 14,612 crore for the quarter ended June 30. SBI reported NII of Rs 13,732 crore in the year-ago period.
Provisions: Net profit slipped after provisions for the quarter ended June 30 rose on a YoY basis. Total provisions for the quarter were recorded at Rs 7,410 crore, compared with Rs 4,000 crore on a YoY basis.
Provisions for bad loans stood at Rs 6,340 crore, which were higher than Rs 3,360 crore in the previous quarter, the bank said. Fresh slippages for the quarter stood at Rs 87,904 crore while the provision coverage ratio stood at 61.57 per cent.
Gross NPA: The bank said it non-performing assets (GNPAs) stood at 6.94 per cent in the first quarter, compared with 6.5 per cent in the fourth quarter of FY16.
Central Bank of India Q1 Result, report loss of Rs 600 cr
Central Bank of India on Friday reported a net loss of Rs.600 crore for its first quarter compared to a net profit of Rs.203.60 crore a year ago as the bank had to set aside more money against bad loans. Provisions more than doubled to Rs.1,543.86 crore compared to Rs.580.75 crore a year ago.
Gross non-performing assets (NPAs) almost doubled from a year ago to Rs.25,107.47 crore at the end of June. As a percentage of total loans, gross NPAs were at 13.52% at the end of the June quarter compared with 11.95% three months ago.
Net interest income, or the core income a bank earns by giving loans, decreased to Rs.1,658.94 crore compared toRs.1,844.14 crore a year ago.
Capital adequacy ratio stood at 9.91% for the quarter, according to Basel III norms.
Bank of India Q1 Result,posts loss of Rs 741 crore
Bank of India on Friday reported a net loss of Rs.741.36 crore in the June quarter against a profit of Rs.129.72 a year ago.
As a result, Bank of India’s provisions increased toRs.2,770.19 crore this quarter compared to Rs.5,470.36 crore last quarter and Rs.1,514.73 crore a year ago.
Provision coverage ratio stood at 53.06% for the quarter ended in June.
“The bank was required to make phased prudential provisions on corporate debt restructuring cases at 2.50% per quarter. However, the bank has made additional provision of Rs.110.33 crore representing the remaining balance of next three quarters,” Bank of India said in its notes to the profit and loss account.
According to a Bloomberg poll of 14 analysts, the bank had been expected to post a net loss of Rs.387.8 crore for the June quarter.
Net interest income, or the core income a bank earns by giving loans, decreased marginally to Rs.2,802.17 crore this quarter compared to Rs.2,912.68 crore a year ago.
IDBI Bank Q1 Result, Net profit rises 78% to Rs 241.10 crore
IDBI Bank Ltd on Thursday said net profit in the June quarter rose 78.35% from a year ago, thanks to a large tax write-back during the quarter. Net profit was Rs.241.10 crore, up from Rs.135.18 crore a year earlier.
According to a Bloomberg poll of three analysts, the bank was expected to post a net loss of Rs.750.70 crore. During the quarter, the bank took a tax write-back of Rs.1,206.51 crore, as against tax expenses of Rs.124.27 crore a year ago.
Excluding this tax write-back, the bank would have reported a net loss.
Net interest income (NII), the core income a bank earns by giving loans, rose 14.2% to Rs.1,706.50 crore in the June quarter from Rs.1,494.33 crore last year. Other income increased 42.69% to Rs.916.22 crore from Rs.642.09 crore in the same period last year.
Bank of Baroda Q1 Result,Profit falls 59.74% to Rs 423 crore
Second largest PSU bank Bank of Baroda on Thursday said its net profit for the June quarter fell 59.74% from a year ago due to higher provisions and lower net interest income.
Net profit for the quarter was Rs.423.62 crore as compared to Rs.1,052.15 crore a year ago. According to a poll of 26 Bloomberg analysts, the bank was expected to post net profit of Rs.398.40 crore.
Net interest income (NII), or the core income a bank earns by giving loans, fell 2.56% to Rs.3,371.09 crore in the June quarter from Rs.3,459.62 crore last year.
Other income increased 49.33% to Rs.1,444.39 crore from Rs.967.23 crore in the same period last year. Net interest margin expanded sequentially to 2.8% from 2.7%.
The bank’s total deposits at the end of the first quarter stood at Rs 5.62 trillion, as compared with Rs 5.93 trillion. The bank reduced the level of high-cost deposits on its book, resulting in a fall in total deposits and a drop in the cost of domestic deposits. The cost of domestic deposits dropped to 6.21% as on 30 June, from 6.61% as on 31 March.
Dhanlaxmi Bank Q1 Result, posts Rs 5.73 cr profit
Dhanlaxmi Bank today reported a profit of Rs 5.73 crore for the first quarter ending June 2016 against a loss of Rs 22.71 crore in the same quarter of previous fiscal.
Income of the bank fell to Rs 300.78 crore during April-June, from Rs 334.17 crore in the year-ago period. The bank improved upon on its bad loan portfolio, as gross non performing assets (NPAs) came down to 7.02 percent of gross advances as on June 2016 against 8.45 percent year ago.
In value terms, gross NPAs were Rs 475.49 crore, down from Rs 627.28 crore year ago. Net NPAs too were down at 3.04 percent (Rs 197.66 crore) as on June 2016 from 4.22 percent (Rs 299.52 crore) year ago.
The bank said it had assigned certain non performing financial assets to asset reconstruction companies during the previous fiscal. "In terms of RBI circular on prudential norms on income recognition, asset classification and provisioning pertaining to advances, the shortfall arrived at by deducting sales consideration from the net book value of the financial assets is amortized over a period of two years.
Punjab & Sind Bank Q1 Result, Profit rises 24% to Rs 53 cr
State-owned Punjab & Sind Bank (PSB) today reported a 23.6 percent increase in net profit to Rs 53.3 crore for the first quarter ended June 30.
The bank had a net profit of Rs 43.1 crore in the same quarter of the previous fiscal.
However, the total income of the bank declined to Rs 2,279.11 crore during the quarter from Rs 2,356.30 crore in the same period a year ago, PSB said in a statement.
Gross non-performing assets (NPAs), or bad loans, rose to 7.23 percent of gross advances compared to 5.17 percent a year ago.
At the same time, net NPAs also increased to 5 percent of net advances, from 3.65 percent in the first quarter a year ago.
Despite increase in bad loans, the total provision of the bank declined to Rs 190.74 crore as against Rs 216.30 crore a year earlier.
Corporation Bank Q1 Result, Profit slips 82% to Rs 36 cr
Corporation Bank registered a net profit of Rs.35.92 crore in the first quarter of 2016-17 as against a profit of Rs. 204.26 crore in the corresponding period of previous fiscal, recording a decline of 82.41 per cent.
Addressing press persons in Mangaluru on Wednesday, Jai Kumar Garg, Managing Director and Chief Executive Officer of the bank, attributed this decline in net profit to the increase in NPAs (non performing assets) and provisions related to that.
The gross and net NPAs of the bank stood at 11.52 per cent (5.43 per cent) and at 7.22 per cent (3.55 per cent), respectively, during the period. He said that total provision was Rs. 761.28 crore, and the operating profit was Rs. 797.20 crore during the quarter.
Total income of the bank also declined to Rs 5,241.1 crore during the quarter, as against Rs 5,334.60 crore a year ago. Provisions for bad loans and contingencies were increased substantially to Rs 894.6 crore in the reported quarter from Rs 621.39 crore in the same period a year ago.
United Bank Q1 Result, Profit down 27% at Rs 38 cr
State-run United Bank of India today reported a 26.6 per cent fall in net profit to Rs 38.32 crore for first quarter ended June 30, on higher bad loans.
The Kolkata-headquartered bank had registered a net profit of Rs 52.22 crore in the corresponding April-June quarter of 2015-16. However, the first quarter results were better sequentially, as the bank had posted a loss of Rs 413.04 crore in January-March quarter of 2015-16.
Total income during the reported quarter fell to Rs 2,819.37 crore as against Rs 2,896.75 crore, showed the bank's balance sheet posted with regulators.
The asset quality of the bank worsened with gross non-performing assets (NPAs) rising to 14.29 per cent of the gross advances as of June 2016, up from 9.57 per cent in year ago period. Likewise, net NPAs or bad loans rose to 9.85 of the net advances as against 6.30 per cent year earlier. In absolute terms, gross NPAs were Rs 10,116.13 crore as against Rs 6,532.83 crore.
While, net NPAs were to the tune of Rs 6,579.28 crore, up from Rs 4,091.20 crore year ago. However, despite a high rate of NPAs, bank's provisioning for bad loans were lower at Rs 378.30 crore for June quarter of the fiscal, from Rs 493.58 crore year earlier.
UCO Bank Q1 result, Loss Rs 440.57 crore
Public sector lender UCO Bank on Tuesday reported a net loss of Rs 440.57 crore in the quarter ended June 30, 2016 as compared to Rs 256.70 crore in the year-ago period.
"The loss was on account of higher provisioning and lower operating profit," said bank's MD and CEO R.K. Takkar.
He said bank's fresh slippages in the quarter under review stood at about Rs 3,116 crore, up from Rs 1,252 crore in the corresponding period last year.
In the quarter, gross non-performing assets (NPAs) of the bank were at Rs 22,597.70 crore as compared to Rs 10,894.41 crore in the corresponding quarter. The bank's net NPA ratio in the June quarter rose to 10.04% as against 4.53% in the year-ago period.
The bank has already put NPAs with a total outstanding amount of Rs 1,767 crore on sale to clean up its balance sheet and invited Expression of Interest (EOI) from asset reconstruction companies (ARCs), banks, financial institutions and eligible NBFCs for the proposed sale of its 22 NPA accounts.
