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.

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Indian Bank Q2 Net Profit Declines 67%

Indian Bank today reported 67% YoY decline in net profit to Rs. 150 crore for the quarter ended September. In the same quarter a year ago, the public sector bank reported a net profit of Rs 451.5 crore.

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%. 

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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.

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Quarterly Results of Private sector banks for Q2FY19

Axis Bank

Bandhan Bank

City Union Bank

DCB Bank

Dhanlaxmi Bank

Federal Bank

HDFC Bank

ICICI Bank

IDFC Bank

IndusInd Bank

Jammu & Kashmir Bank

Karnataka Bank

Kotak Mahindra Bank

Karur Vysya Bank

Lakshmi Vilas Bank

RBL Bank

South Indian Bank

Yes Bank

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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.

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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.

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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.

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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.

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