Public Sector Banks :
Private Sector Banks :
Results of Indian Public & Private Sector Banks for Q2 2016-17
Private Sector Banks :
Private Sector Banks :
Corporation Bank Q2 result, net profit up 9% at Rs 206 cr
Corporation Bank today posted 9 per cent rise in net profit at Rs 206.28 crore for the quarter ending September despite rise in provisioning for bad loans.
The state-owned bank had a profit of Rs 188.60 crore during the second quarter of the last financial year. Total income rose to Rs 5,750.61 crore during the second quarter of the current fiscal, from Rs 5,434.65 crore in the same period of 2015-16, Corporation Bank said in filing to stock exchanges.
As of September 30, the bank's gross NPAs doubled to 10.81 per cent of gross advances, compared with 5.32 per cent a year ago.
Similarly, the net NPAs rose to 6.91 per cent from 3.54 per cent. As a result, provision (other than tax) and contingencies rose significantly to Rs 826.80 crore as compared to Rs 563.76 crore in the same period a year ago.
Bank of Baroda Q2 net profit at Rs552.12 crore
Bank of Baroda on Friday reported net profit that more than tripled to Rs552.12 crore in the September quarter, helped by lower provisions against bad loans, a fall in expenses and higher non-interest income.
The state-owned lender had posted a net profit of Rs124.48 crore in the year-ago quarter.
Net interest income (NII), or the difference between interest earned on loans and that paid on deposits, rose 5.6% year-on-year to Rs3,426 crore. Non-interest income, which includes fees and commissions, rose 36.5% to Rs1,561.43 crore year-on-year.
The lender’s total expenditure fell 6% from a year earlier to Rs9,356.40 crore.
Total advances fell to Rs3.54 trillion as of 30 September, from Rs4.14 trillion a year ago. The fall in advances crimped interest income, but a decline in high-cost deposits and a falling interest rate regime balanced it out.
Total deposits at the end of the second quarter amounted to Rs5.67 trillion, lower than the Rs6.1 trillion a year ago.
Indian Overseas Bank Q2 result, Net loss widens to Rs765.13 crore
Indian Overseas Bank Ltd on Friday said its second-quarter net loss widened to Rs765.13 crore from Rs550.83 crore a year earlier as it set aside more money to cover bad loans and earned less interest income.
Net interest income, or the difference between interest earned on loans and that paid on deposits, fell 8.03% to Rs1,285.81 crore from Rs1,398.06 crore in the corresponding period last year.
Non-interest income, which includes core fee income, rose 25.24% to Rs969.63 crore in the three months ended 30 September from Rs774.21 crore a year earlier.
Gross non-performing assets (NPAs) made up 21.77% of total advances, up from 20.48% in the preceding quarter.
The bank’s provisions during the quarter increased to Rs1,697.56 crore from Rs1,557.76 crore in the year-ago quarter.
SBI Q2 result, Profit falls 34.6% to Rs2,538.32 crore
State Bank of India (SBI) on Friday reported a 34.6% slump in September quarter net profit as provisions against bad loans doubled from a year ago, showing the continuing pain from a pile-up of toxic assets at India’s largest lender.
The bank reported a net profit of Rs2,538.32 crore in the three months, down from Rs3,879.07 crore in the year-ago period. According to a Bloomberg poll of 17 analysts, the bank had been expected to post a net profit of Rs2,585.40 crore.
Provisions against bad loans jumped 99.64% to Rs7,669.66 crore in the quarter from Rs3,841.77 crore in the year-ago period. On a sequential basis, provisions were up 21% from the June quarter’s Rs6,339.56 crore. The provision coverage ratio fell to 62.16% from 70.48%.
SBI reported fresh slippages—or new bad loans—worth Rs 10,341 crore during the July-September period, higher than Rs 8,790 crore in the June quarter and Rs5,875 crore in the same quarter last year. Loan recoveries fell to Rs1,344 crore from Rs1,647 crore a year ago.
“Slippages worth Rs4,853 crore came from the watchlist, which is now at around Rs25,951 crore. We expect 75-80% slippages from the watchlist going ahead. The watchlist is expected to come down by Rs5,000-7,000 crore in the coming months,” said SBI chairperson Arundhati Bhattacharya.
Andhra Bank Q2 result, net slumps 80% on higher NPA provisioning
Increased provisioning for bad loans pulled down net profit of public sector Andhra Bank by 80 percent to Rs 51.42 crore for the quarter ended September 30.
Andhra Bank had a net profit of Rs 251.26 crore in the same quarter of previous fiscal. Provisioning for bad loans increased to Rs 956.81 crore, up 82 percent from Rs 524.86 crore in the second quarter of the last fiscal, Andhra Bank said in a BSE filing.
Gross non-performing assets (NPAs) jumped to 11.49 percent at the end of September 2016, from 5.71 percent in the corresponding month last fiscal. Net NPA rose to 6.99 percent at the end of September 2016, from 2.95 percent at the end of September 2015.
Total income increased to Rs 5,042 crore at the end of second quarter from Rs 4,744 crore at the end of same period last year.
Bank of India Q2 result, Profit at Rs127 crore
State-owned Bank of India has reported a net profit of Rs126.84 crore for the second quarter ended September.
The bank had reported a net loss of Rs1,126.24 crore in July-September of 2015-16 on account of higher provision for bad loans as per RBI’s asset quality review guidelines. It had sold 18% in its joint venture Star Union Dai-ichi Life Insurance to the foreign partner.
“During the quarter, the bank has earned profit before tax amounting to Rs495 crore (Rs323.69 crore net of taxes) from sale of 18% stake in Star Union Dai-ichi Life Insurance Company Ltd (joint venture of the bank),” it said.
Total income stood at Rs11,469.11 crore for the quarter ended September 2016 whereas the figure was Rs11,317.97 crore for the same quarter of the previous fiscal, it said in a regulatory filing. A decrease in reserves towards bad loans in the form of provisions as well as contingencies at Rs2,296.22 crore for the quarter under review against Rs3,237.39 crore a year ago helped.
However, asset quality remained an issue as gross non-performing assets (NPAs) rose to 13.45% of gross advances at the end of September 2016, from 7.55% a year earlier. Net NPAs or bad loans were 7.56% of net advances for the period under review, up from 4.31% a year ago.
In absolute terms, gross NPAs stood at Rs52,261.95 crore as on September 2016, from the earlier Rs29,293.67 crore. Net NPAs were at Rs27,467.05 crore as against the previous Rs16,466.48 crore. The provision coverage ratio of the bank at the end of the second quarter stood at 55.23%, from 55.08% in the year-ago period.
Indian Bank Q2 profit rises 18% at Rs405 crore
Indian Bank on Wednesday reported 18.48% rise in net profit at Rs405.13 crore for the September quarter helped by sharp fall in provision for taxes.
The bank had registered a net profit of Rs341.92 crore in the corresponding quarter of the previous financial year. Its total income increased marginally to Rs4,579.01 crore during the second quarter of 2016-17, as against Rs4,551.26 crore in the same period a year ago, the state-owned bank said in a regulatory filing.
For the quarter under review, Indian Bank’s provision for bad loans and contingencies jumped by over three-fold to Rs478.27 crore as against Rs137.07 crore, a year ago.
Its provision for taxes in the second quarter of the current fiscal declined by 46.08% to Rs122.79 crore as against Rs229.12 reported in the same period a year ago.
Gross NPAs rose to 7.28% of gross advances as on 30 September 2016, up from 4.61% a year earlier. Net NPAs soared to 4.62% of net loans, from 2.60%, a year ago.
