Union Bank of India reported a higher than estimated loss in Q2FY18

State-owned lender Union Bank of India reported a higher-than-estimated loss in the July-September quarter as it front-loaded provisioning for accounts facing insolvency action.

The lender reported a net loss of Rs 1,531 crore in the September-ended quarter, according to an exchange filing. That’s more than 10 times the Rs 129 crore that analysts tracked by Bloomberg had estimated.

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Punjab National Bank(PNB) posts 2% YoY rise in Q2 net profit

Public sector lender Punjab National Bank has reported better-than-expected growth of 2 percent for the quarter ended September 2017 and even its asset quality improved over previous quarter.

Profit for the quarter increased to Rs 560.6 crore, against Rs 549 crore in same quarter last fiscal.

Net interest income during the quarter grew by 3.5 percent year-on-year to Rs 4,015.2 crore, with total advances growth of 4.2 percent at Rs 4.1 lakh crore.

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Andhra Bank posted loss in Q2 due to higher bad loan provisions

Public sector lender Andhra Bank on Thursday said it suffered a Rs385 crore loss for the quarter ended 30 September due to higher provisioning for bad loans.

The bank reported a Rs51 crore net profit during the same quarter in FY 17, Andhra Bank said in a statement. Total income for the quarter under discussion was marginally down to Rs5,005 crore against Rs5,043 crore during the corresponding quarter last year.

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Syndicate Bank Q2 profit jumps nearly 28%

State-owned Syndicate Bank on Tuesday reported 27.68% jump in its July-September quarter profit to Rs105.24 crore on annual basis, notwithstanding rise in bad loans.

The Manipal-headquartered bank had posted a profit of Rs82.42 crore in the same quarter of the previous fiscal. The total was income was Rs6,419.21 in the second quarter of the fiscal, down from Rs6,574.93 crore in the comparable period of 2017-18, the bank said in a regulatory filing.

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IDBI Bank reports 4th straight quarterly loss

IDBI Bank on Tuesday reported its fourth straight quarterly loss as bad loans continued to mount and provisions soared.

However , the loss was restricted for the quarter due to tax write back.

During the September quarter, the bank reported a loss of Rs197.84 crore against a profit of Rs55.52 crore a year ago. The bank got a tax write-back of Rs260.53 crore against Rs135.03 crore paid last year same quarter.

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Central Bank of India Q2 loss widens, net NPAs jump to 9%

Public sector Central Bank of India today reported widening of its net loss at Rs. 750.41 crore for the July-September quarter of this fiscal due to higher provisioning for the bad loans.

The bank had reported a net loss of Rs. 641.82 crore in the corresponding quarter of the 2016 -17 fiscal.

The bank’s gross non-performing assets (NPAs) jumped to 17.27 per cent of gross loans by September 30, 2017.The gross NPAs were 13.70 per cent of the gross loans at the end of the same quarter a year earlier.

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Bandhan Bank Q2 profit rises 18.2%

The Kolkata-based private sector lender Bandhan Bank on Saturday reported an over 18% growth in net profit for the quarter to September at Rs331 crore on a substantial rise in both net interest income and non- interest income.

Net interest income for the quarter rose nearly 22% to Rs694 crore from Rs569 crore a year ago, while non- interest income rose a higher 66.42% to Rs223 crore from Rs134 crore, the bank said in a statement. Its current accounts-saving accounts deposits rose to 28.18% of total deposits from 16.71% in the year-ago period.

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Canara Bank Q2 net profit down 27%

Public sector lender Canara Banktoday reported a 27.1 per cent decline in net profit to Rs 260.18 crore in the second quarter of current fiscal, due to higher provisions. 

The bank had reported a net profit of Rs 356.91 crore during the corresponding period last year. 

Total income of the city headquartered bank during July-September quarter stood at Rs 11,994.64 crore, down from Rs 12,187.12 crore in the same quarter a year ago. 

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