Public Sector Banks :(Data will update as result will declare)
Quarterly Results of Public sector banks for Q2FY19
Central Bank of India Q2 net loss widens; gross non-performing assets spike to 21.48%
State-owned Central Bank of India on Wednesday reported widening of net loss to Rs 923.60 crore in the second quarter ended 30 September, due to mounting bad loans and falling core income.
The bank had posted a net loss of Rs 750.41 crore in the year-ago period, it said in a regulatory filing.
However, the loss narrowed from Rs 1,522.24 crore reported in the June quarter.
Total income also fell to Rs 6,197 crore in the quarter, from Rs 6,896.26 crore a year ago.
The bank's interest income fell to Rs 5,685.05 crore in July-September, from Rs 6,166.06 crore in the year-ago period.
The lender's asset quality worsened year-on-year, as gross non-performing assets (NPAs) spiked to 21.48 percent of the gross advances as at September-end as compared with 17.27 percent by the end of the same month in 2017.
Net NPAs also ballooned to 10.36 percent of the net advances, against 9.53 percent a year ago.
However, NPAs or bad loans (both net and gross) corrected sequentially.
In absolute value, gross NPAs stood at Rs 37,410.76 crore as on 30 September, 2018, against Rs 31,641.15 crore by September 2017.
Net NPAs were Rs 15,794.15 crore, compared with Rs 15,899.74 crore a year ago.
Even as bad loans spiked, the bank cut down on its NPA provisions to Rs 1,649.25 crore for the second quarter, against Rs 1,791.98 crore parked aside in the year-ago period.
The overall provisions and contingencies, however, moved up to Rs 1,982.82 crore, while it was at Rs 1,961.66 crore in year-ago September quarter.
The provisioning coverage ratio (PCR) of the bank is 67.74 percent (previous corresponding period 58.58 percent), the lender said.
IDBI Bank reports large loss as bad loan continue to rise
State-owned IDBI Bank on Wednesday reported widening of net loss to Rs 3,602.49 crore during the September quarter of 2018-19, as bad loans jumped substantially.
It had posted a net loss of Rs 197.84 crore in the corresponding quarter of the previous financial year.
Total income of the bank was also down at Rs 6,162.14 crore in the reported quarter as against Rs 8,302.42 crore a year ago, IDBI Bank said in a regulatory filing.
The bank's gross non-performing assets (NPAs) hit 31.78 percent (Rs 60,875.49 crore) of the gross advances by 30 September, 2018 as against 24.98 percent (Rs 51,367.69 crore) in the year-ago period.
Net NPAs stood at 17.30 percent (Rs 27,294.58 crore) of the net advances, up from 16.06 percent (Rs 29,488.83 crore) in the corresponding period last year.
Sequentially also, the bad loan proportion of the bank worsened.
Thus, the provisioning for NPAs for the quarter was raised to Rs 5,481.64 crore from Rs 2,842.15 crore during the July-September quarter of 2017-18.
The overall provisioning and contingencies stood at Rs 6,579.83 crore for the quarter, up from Rs 3,261.42 crore in the year-ago period.
Corporation Bank reports profit in Q2
Corporation Bank registered a net profit of ₹103.01 crore in the second quarter of 2018-19 as against a loss of ₹1,035.2 crore in the corresponding period of 2017-18.
The bank’s unaudited (reviewed) financial results for the second quarter, which was submitted to the stock exchanges, put the provisions (other than tax and contingencies) at ₹808.32 crore (₹2668.81 crore). Of this, the provisions for non-performing assets (NPAs) were at ₹728.56 crore (₹2535.95 crore) during the period.
Provision coverage ratio of the bank was at 65.47 per cent as on September 30.
The gross NPA increased to ₹21,714.16 crore during the second quarter of 2018-19 from ₹20,684.87 crore in the corresponding period of the previous fiscal. The net NPA stood at ₹13,534.01 crore (₹13,082.59 crore).
In percentage terms, the gross NPA stood at 17.46 per cent (15.28 per cent), and net NPA at 11.65 per cent (10.24 per cent) during the second quarter.
The net interest income of the bank stood at ₹1,457.60 crore during the quarter against ₹1,239.04 crore. The other income came down to ₹246.23 crore (₹718.10 crore).
The bank recorded a net profit of ₹187.97 crore in the first six months of the fiscal 2018-19 as against a loss of ₹975.05 crore in the corresponding period of the previous fiscal.
United Bank of India net loss widens in Q2
United Bank of India Tuesday reported widening of net loss to Rs 883.17 crore in the second quarter of the ongoing financial year due to higher provisioning and contingencies.
The state-owned bank reported a loss of Rs 344.83 crore in the September quarter of 2017-18.In the quarter ended June this fiscal, the bank had posted a net loss of Rs 388.68 crore.Net loss for the reported quarter was mainly on account of higher provisioning, the bank said in a release.
Total income during the quarter stood at Rs 2,600.47 crore, up from Rs 2,584.89 crore in the same period of 2017-18.The bank’s overall provisioning and contingencies during the reported quarter nearly doubled to Rs 1,481.24 crore as against Rs 753.09 crore in the year-ago period.
However, there was a write-back of Rs 1,096.94 crore with respect to provision for non-performing assets (NPAs) during the quarter, which was higher than a write-back of Rs 876.15 crore in the second quarter of 2017-18.
Asset quality of the bank worsened as gross NPAs rose to 22.69 per cent of gross loans as at end-September 2018 from 18.80 per cent by the same period of 2017.Net NPAs rose to 14.36 per cent from 11.63 per cent.NPA provisions, both gross and net, showed improvement sequentially.In value terms, gross NPAs stood at Rs 15,163.28 crore by the end of September 2018 as against Rs 12,892.67 crore in the year-ago period. Net NPAs were valued at Rs 8,658.10 crore as against Rs 7,279.64 crore.
Allahabad Bank posts huge Q2 loss on higher NPA provisions
State-owned Allahabad Bank on Tuesday reported a net loss of Rs.1,822.71 crore in the September quarter of 2018-19 financial year, on higher provisioning for bad loans. The bank had posted a net profit of Rs.70.20 crore in the July-September quarter of 2017-18.
However, as compared to the June quarter this fiscal, the bank narrowed the losses from Rs.1,944.37 crore.
Total income also fell to Rs.4,410.72 crore during the quarter as against Rs.5,067.78 crore in the same period of 2017-18, Allahabad Bank said in a BSE filing.
Gross non-performing assets (NPAs) jumped to 17.53 per cent of the gross advances as on September 30, 2018 as against 14.10 per cent by the same period a year ago.
Net NPAs or bad loans fell to 7.96 per cent of the net loans as against 8.84 per cent in the year-ago period.
In absolute value, gross bad loans stood at Rs.27,236.19 crore by the end of September quarter 2018-19, as against Rs.21,454.27 crore in the year-ago period. Net NPAs were Rs.11,082.74 crore as against Rs.12,662.18 crore.
Due to rise in bad loans, provisioning for NPAs were raised to Rs.1,991.88 crore for the reported quarter from Rs.1,469.52 crore in the same period of 2017-18.
The overall provisioning and contingencies rose to Rs.2,356.04 crore for the quarter as against Rs.1,497.11 crore in the year-ago period.
Non-performing loan provision coverage ratio of the bank is 67.81 per cent, it said.
Citing RBI circular permitting banks to continue the exposures to MSME borrowers to be classified as standard assets, Allahabad Bank said it has retained advances of Rs.576.43 crore as standard asset as on September 30, 2018.
“In accordance with the provisions of the circular, the bank has not recognised interest income of Rs.18.84 crore and is maintaining a standard asset provision of Rs.27.88 crore as on September 30, 2018 in respect of such borrowers,” it said.
The bank also informed that it has spread the provision for fraud/red flagged accounts of Rs. 802.70 crore in 27 accounts as on September 30, 2018.
Further, a provision of Rs.161.30 crore (cumulative Rs.390.58 crore up to September 30, 2018) has been reversed out of Rs.390.58 crore, Allahabad Bank said.
Punjab & Sind Bank reports net loss in Q2
State-owned Punjab & Sind Bank Tuesday reported a net loss of Rs
109.23 crore in the second quarter ended September 30, on higher bad
loans provisioning. It had posted a net profit of Rs 13.70 crore in
the corresponding quarter of the previous financial year, the bank said
in a regulatory filing.
However, the lender reduced its losses
when compared sequentially against Rs 398 crore in the first quarter
ended June of the current fiscal. Its total income increased to Rs 2,409.41 crore during the quarter, against Rs 2,166.64 crore a year ago.
The bank's provisioning for bad loans or non-performing assets (NPAs)
rose to Rs 400.90 crore for the quarter, from Rs 277.36 crore in the
year-ago period. The overall provisioning and contingencies
during the period were up at Rs 593.73 crore from Rs 294.83 crore a year
ago, the bank said.
On asset front, gross NPAs showed
improvement at 10.02 per cent of the gross loans, against 11.25 per cent
at the end of September 2017. Net NPAs were 5.25 per cent of the net advances, down from 7.72 per cent a year ago.
In value terms, the bank's gross NPAs stood at Rs 7,202.17 crore by the
end of September, against Rs 6,821.51 crore by September 2017. Net NPAs
stood at Rs 3,583.37 crore, compared with Rs 4,501.94 crore.
The provision coverage ratio and liquidity coverage ratio were 64.79 per
cent and 144.31 per cent, respectively, the bank said.
UCO Bank Q2 net loss widens as bad loans rise
State-owned UCO Bank Monday reported widening of net loss to Rs 1,136.44 crore for the second quarter of 2018-19, on rising bad loans. The bank had registered a net loss of Rs 622.56 crore in the September quarter of 2017-18. In the June quarter this fiscal, the company’s net loss stood at Rs 633.88 crore.
Total income also fell to Rs 3,749.18 crore in the reported quarter as against Rs 3,757.51 crore in the same period of 2017-18, the bank said in a BSE filing.
The bank’s asset quality worsened as the gross non-performing assets (NPAs) soared to 25.37 per cent of the gross advances as on September 30, 2018 as against 19.74 per cent by the end of September 2017.
Net NPAs were 11.97 per cent as compared to 9.98 per cent in the year-ago period.
In absolute terms, gross NPAs or bad loans stood at Rs 29,581.49 crore at end-September 2018 as against Rs 24,434.95 crore earlier. Net NPAs rose to Rs 11,820.21 crore from Rs 11,008.23 crore.
Due to mounting NPAs, the bank hiked the provisions for bad loans to Rs 1,410.94 crore during the reported quarter, up from Rs 1,323.36 crore in the year-ago period.
The non-performing loan provisioning coverage ratio is 67.61 per cent as on September 30, 2018, UCO Bank said.
Bank Of India Posts Q2 Loss As Bad Loan Provision Jumps
State-owned Bank of India on Monday reported a net loss of ₹1,156.25 crore for the quarter ended September this year due to a jump in provisions for bad loans.
The bank had posted a net profit of ₹179.07 crore in the corresponding July-September period of the last fiscal. It had a net profit of ₹95.11 crore in the April-June quarter of the 2018-19 fiscal.
Total income of the bank fell to ₹10,800.24 crore during the quarter ending September from ₹11,600.47 crore in the same period of 2017-18, according to a regulatory filing by Bank of India.
Provisions towards bad loans rose to ₹2,827.62 crore in the July-September quarter of 2018-19 from ₹1,866.82 crore in the year-ago quarter.
Its gross non-performing assets (NPAs) hit 16.36 per cent of gross advances by September-end 2018 against 12.62 per cent as on September 30, 2017.
However, gross NPAs were down compared to 16.66 per cent by the end of June quarter of the current fiscal.
Net NPAs jumped to 7.64 per cent at September-end from 6.47 per cent in the year-ago period. As on June 30, 2018, the net NPA proportion was at 8.45 per cent.
In value terms, gross NPAs of the bank stood at ₹61,560.65 crore by the end of September quarter, 2018-19, as against ₹49,306.90 crore in the year-ago period. Net NPA stood at ₹25,994.15 crore as against ₹23,565.73 crore.
Indian Bank Q2 Net Profit Declines 67%
NII or net interest income that is the difference between interest earnings and interest expended grew YoY by 12.1% to Rs. 1730.9 crore during Q2Y19. In the corresponding period last year, NII stood at Rs 1,544 crore.
Operating profit for the quarter also came in lower at Rs. 1191 crore. Contingencies and provisions at the bank also increased YoY by 34.9% to Rs. 1004.3 crore during the period under review versus Rs. 744.50 crore in the same quarter last year. Gross NPAs at the lender increased marginally from 7.16% to 7.20% on a quarter on quarter basis. In the corresponding quarter last year, percentage of gross non-performing assets stood at 6.67%.
The percentage of net NPAs also came in higher at 4.23% during July-September quarter in comparison to 3.79% in Q1FY19. In the same quarter last year, Net NPAs came in at 3.41%.
SBI Q2 profit slumps 40% YoY , asset quality improves
Country’s largest lender by assets State Bank of India (SBI) on Monday posted a 40.26 per cent year-on-year fall in standalone profit at Rs 944.87 crore for the quarter ended September 30. It had posted a net profit of Rs 1,581.55 crore in the corresponding quarter last year.
Analysts in an ET NOW poll had estimated a loss of Rs 704 crore.
Asset quality of the lender improved with a percentage of gross non-performing assets (GNPA) decreased to 9.95 per cent in Q2FY19 over 10.69 per cent in the preceding quarter ended June 2018. Percentage of gross NPA also improved to 4.84 per cent from 5.29 per cent in the same period.
Net interest income of the lender increased 12.48 per cent to Rs 20,905.69 crore in Q2FY19 over Rs 18,586.90 crore in the same period last year.
Andhra bank net loss widens in Q2
State-owned Andhra Bank on Saturday reported widening of its net loss to Rs 434.10 crore in second quarter which ended September.
It had posted a net loss of Rs 385.11 crore during the July-September period of the previous fiscal.
On a sequential basis, however, its net loss narrowed from Rs 539.83 crore loss in the first quarter ended June of the current fiscal.
In the fiscal ended March 2018, the bank had posted a net loss of Rs 3,412.53 crore due to mounting bad loans.
Total income during the second quarter of 2018-19 rose to Rs 5,249.32 crore as against Rs 5,005.34 crore in the same quarter of 2017-18, Andhra Bank said in a regulatory filing.
Bank's asset quality witnessed a deterioration year-on-year as gross non-performing assets (NPAs) soared to 16.36 per cent of gross advances by end of September quarter 2018 as against 13.27 per cent by the same period of 2017. However, it improved a little when compared with 16.69 per cent by end of June quarter.
Net NPAs, however, showed a slight correction at 7.49 per cent of net loans as at end of September from 7.55 per cent a year ago. In the first quarter ended June, net NPAs stood at 7.96 per cent.
In absolute value, gross bad loans or NPAs stood at Rs 27,623.01 crore by September 2018 as against Rs 19,838.58 crore by September 2017. Net NPAs were Rs 11,427.62 crore as compared to Rs 10,573.60 crore.
However, its provisioning for bad loans came down to Rs 1,155.15 crore during the quarter under review from Rs 1,585.88 crore a year ago. Overall provisioning including for contingencies stood at Rs 1,561.73 crore against Rs 1,668.06 crore.
The provision coverage ratio stood at 65.47 per cent as on September 30, 2018. Andhra Bank said it received Rs 2,019 crore as government capital infusion on July 23 in lieu of preferential allotment of shares.
Dhanlaxmi Bank Q2 profit doubles, asset quality improves
Dhanlaxmi Bank second quarter
(July-September) profit doubled to Rs 12.1 crore against Rs 6.1 crore reported
year-ago on provisions write-back.
Net interest income
during the quarter fell by 3.8 percent to Rs 87.4 crore YoY as advances degrew
by 4 percent to Rs 5,940 crore.
Deposits also declined
in quarter ended September 2018, down 1.65 percent to Rs 10,816.8 crore
compared to same period last year.
The bank has improved
its asset quality at the end of September quarter. Gross non-performing assets
as a percentage of gross advances were down at 7.81 percent against 8.94
percent in previous quarter and net NPAs, too, were lower at 2.92 percent compared
to 3.79 percent reported in June quarter.
Dhanlaxmi Bank has
written back provisions of Rs 18.19 crore in September quarter against
provisions of Rs 65.01 crore made in June quarter and Rs 23.87 crore in Q2FY18.
At operating level, it
has reported loss of Rs 6.04 crore against profit of Rs 29.92 crore in
corresponding period last fiscal.
City Union Bank posts Q2 Net Profit 16.05% up
City Union Bank posted quarterly Net Profit at Rs. 167.99 crore in September 2018 up 16.05% from Rs. 144.76 crore in September 2017.
Net Interest Income (NII) at Rs 398.02
crore in September 2018 up 12.16% from Rs. 354.8558 crore in September 2017.
Operating Profit
stands at Rs. 295.95 crore in September 2018 down 7.53% from Rs. 320.06 crore
in September 2017.
City Union Bank EPS has increased to Rs. 2.30 in September 2018 from Rs. 2.22
in September 2017.
Axis Bank profit rises 83% in Q2
Axis Bank Ltd on Friday said its second quarter net profit rose 82.62% on the back of higher net interest income and other income.
The bank posted a net profit Rs 789.61 crore for the three months ended 30 September, compared with Rs 432.38 crore in the year-ago period. Profit was higher than Rs 758.9 crore estimated by a Bloomberg poll of 22 analysts.
Net interest income, or the difference between interest earned on loans and that paid on deposits, increased 15.25% to Rs 5,232.11 crore from Rs 4,539.62 crore in the corresponding period last year.
Other income, which includes core fee income, rose 3.59% to Rs 2678.38 crore in the three months from Rs 2585.40 crore a year ago.
Gross non-performing assets (NPAs), as a percentage of total advances, were at 5.96% in the September quarter, compared with 6.52% in the June quarter, and 5.90% in the year-ago September quarter.
Provisions during the quarter decreased 6.78% to Rs 2,927.38 crore, against Rs 3,140.41 crore in the year-ago quarter. In the April-June quarter, the bank had set aside Rs 3,337.70 crore as provisions.
Post-provision, the net NPA ratio was at 2.54%, against 3.09% in the April-June quarter, and 3.12% in the year-ago quarter.
