Kotak Mahindra Bank Q3 Results: Profit rises 15% YoY

 

Kotak Mahindra Bank Friday reported a 14.94 per cent year-on-year (YoY) rise in standalone net profit at Rs 2,131 crore compared with Rs 1,854 crore in the corresponding quarter last year.

Meanwhile, consolidated PAT for the bank was up 31 per cent YoY at Rs 3,403 crore from Rs 2,602 crore in the year-ago quarter.

Net interest income (NII) for the quarter rose 11.81 per cent YoY to Rs 4,334 crore from Rs 3,876 crore in the same quarter last year. Net interest margin (NIM) for Q3FY22 came in at 4.62 per cent.

The private lender said it saw 21 lakh net customer additions during the quarter under review against 8 lakh in the year-ago quarter. Customers as at December 31 stood at 3.07 crore, the bank said in a BSE filing.

Gross NPA fell to Rs 6,983 crore from Rs 7,126 crore in the year-ago quarter and Rs 7,658 crore in the September quarter. Gross NPA ratio came in at 2.71 per cent, down from 3.27 per cent in the same quarter last year and 3.19 per cent at the of September quarter.

Kotak Bank said Covid-related provisions stood at Rs 1,000 crore as of December 31. The bank has standard restructured fund-based outstanding of Rs 1,364 core or 0.54 per cent of advances as at December 31, 2021.

Capital adequacy ratio, including unaudited profits, came in at 23.3 per cent in the recently concluded quarter and Tier I ratio was 22.4 per cent.

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RBL Bank Q3 Results: Lender reports 6% rise in net profit on growth in NII

 

RBL Bank on Thursday reported a 6 per cent rise in net profit led by growth in net interest income (NII) despite a rise in expenses as the bank increased its branch presence during the quarter.

Net profit rose to Rs 156 crore in the quarter ended December 2021 from Rs 147 crore a year earlier mainly due to a 11 per cent growth in NII to Rs 1,010 crore from Rs 908 crore a year earlier.

Total operating expenses rose 46 per cent to Rs 1,000 crore in December 2021 from Rs 683 crore a year earlier reflecting the increase in operation, technology, people and compliance costs as the bank added 90 branches between September 2021 and January 2022 to take total branches beyond 500.

A 16 per cent rise in wholesale loans made up for the 6 per cent fall in retail loans as the bank consciously went slow on micro finance and small business loans due to the uncertainty caused by the rise in Covid infections during the quarter.

CEO Rajeev Ahuja said he expects retail loans to pick up next fiscal in line with the economic recovery and as the bank uses its expanded presence to ramp up loans including in micro finance.

The bank's advances increased 3 per cent year on year to Rs 58,141 crore. Retail loans make up 53 per cent of the bank's loan book and Ahuja expects it to increase to more than 60 per cent in the next three years.

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Federal Bank Q3 results: Net profit rises by 29%

 

Private sector lender Federal Bank reported a 29 per cent rise in net profit at Rs 522 crore for the December quarter as against Rs 404 crore in the year-ago period owing to a fall in provisions by nearly half.

Operating profit fell 4.4 per cent at Rs 914 crore against Rs 956 crore.

Net interest margin however improved 7 basis points sequentially to 3.27 per cent while net interest income rose 7 per cent at Rs 1539 crore in the quarter under review against Rs 1437 crore in the year-ago period.

The lender's gross non-performing assets stood at 3.06 per cent at the end of December, compared with 2.71 per cent a year back. Gross NPA was 3.24 per cent at the end of September 2021 quarter. Net NPA was at 1.05 per cent as against 1.12 per cent three months back and 0.6 per cent a year back.

Provision was lower at Rs 214 crore for the December quarter compared with Rs 414 crore in the year ago period. The provision coverage ratio fell to 79.62 per cent against 86.32 per cent a year earlier.The bank's advances grew by 12% year-on-year to Rs 1.41 lakh crore.

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Bank of Maharashtra Q3 net doubles on robust NII

Bank of Maharashtra posted a 110.7 per cent rise in net profit at Rs 325 crore for the third quarter ended December 2021 (Q3FY22) on robust growth in net interest income.

The net profit was Rs 154 crore in Q3FY21 and Rs 263 crore in the second quarter ended September 2021 (Q2FY22).The Pune-based lender's stock was trading 2.56 per cent lower at Rs 20.95 per share on BSE.

Net Interest Income (NII) grew by 16.90 per cent to Rs 1,527 crore in Q3FY22 as against Rs 1,306 crore for Q3FY21. Sequentially, growth was flat with NII of Rs 1,500 crore in Q2FY22.Public sector lender’s net interest margin (NIM) improved to 3.11 per cent in Q3FY22 from 3.06 per cent in Q3FY21. Sequentially, NIM declined from 3.27 per cent in Q2FY22.

The non-Interest income rose by 6.35 per cent on YoY basis to Rs 611 crore in Q3FY22 from Rs 575 crore in Q3FY21. Sequentially, it declined substantially from Rs 832 crore in the quarter ended September 2021.

Its gross Advances grew by 22.98 per cent on YoY basis to Rs 1,29,006 crore in Q3FY22 as against Rs 1,04,904 crore in Q3FY21.The total Deposits up by 15.21 per cent to Rs 1,86,614 crore in Q3FY22 from Rs 1,61,971

A S Rajeev, managing director and chief executive said the credit growth is expected to be 17-20 per cent in the current financial year (FY22). The liabilities (deposits) are expected to grow by 10-12 per cent growth in FY22. The focus is on growth with stability and compliance.

Its provisions for non-performing assets were higher at Rs 587 crore in Q3FY22, up from Rs 385 crore in Q3FY21. Provisions were down from Rs 921crore in Q2 FY22.The Provision Coverage Ratio (PCR) improved to 93.77 per cent at end of December 2021 from 89.55 per cent a year ago and 92.38 per cent as of September 2021.

Its Gross NPA declined to 4.73 per cent in December 2021 from 7.69 per cent a year agoas and 5.56 per cent in September 2021. The bank wrote-off NPAs of Rs 500 crore in Q3FY22.The Net NPA reduced to 1.24 per cent in December 2021 from 2.59 per cent a year ago and 1.73 per cent in September 2021.

The current capital adequacy level is adequate for regulatory and business requirements. Yet, the bank plans to raise equity capital of Rs 500-750 crore in the current quarter for future growth considerations. It will approach institutional investors to raise fresh capital.

Bank may also look at Rs 1,000 crore through tier I bonds in the first quarter of next financial year (FY23), Rajeev said.Its Capital adequacy ratio stood at 14.85 per cent in December 2021, up from 13.65 per cent in December 2020.

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ICICI Bank Q3 Results: Profit rises 25% YoY

Private lender ICICI Bank on Saturday reported a 25 per cent year-on-year (YoY) rise in standalone net profit at Rs 6,194 crore for the December quarter compared with a profit of Rs 4,940 crore in the corresponding quarter last year.The bank reported a 23 per cent YoY jump in net interest income (NII) at Rs 12,236 crore from Rs 9,912 crore in the same quarter last year.

Net interest margin (NIM) for the quarter came in at 3.96 per cent compared with 4 per cent in the September quarter and 3.67 per cent in the year-ago quarter.Provisions (excluding provision for tax) for the quarter fell 27 per cent YoY to Rs 2,007 crore from Rs 2,742 crore in the same period last year, the bank said in a filing to BSE. Provision coverage ratio, meanwhile, stood at 79.9 per cent as of December 31, 2021.

Net NPA ratio declined to 0.85 per cent from 0.99 per cent in the preceding quarter, the lowest since March 31, 2014.The consolidated profit after tax for the bank rose 19 per cent YoY to Rs 6,536 crore from Rs 5,498 crore in the same quarter last year.

The bank said its total period-end deposits crossed Rs 10 lakh crore mark, with total deposits growing 16 per cent YoY to Rs 10,17,467 crore. Average CASA ratio was 45 per cent in the recently concluded quarter.

ICICI Bank's non-interest income, excluding treasury income, rose 25 per cent YoY to Rs 4,899 crore from Rs 3,921 crore. Fee income rose 19 per cent YoY to Rs 4,291 crore from Rs 3,601 crore YoY.

Fees from retail, business banking and SME customers constituted about 76 per cent of total fees in the December quarter, the bank said in the filing.

Treasury income was Rs 88 crore compared with Rs 766 crore (US$ 103 million) in the year-ago quarter. The treasury income of last year included gain of Rs 329 crore from sale of shares of ICICI Securities.

"Recoveries and upgrades of NPAs, excluding write-offs and sale, were Rs 4,209 crore in Q3. The gross NPAs written off in Q3 were Rs 4,088 crore. Excluding NPAs, the total fund based outstanding to all borrowers under resolution as per the various extant regulations/guidelines was Rs 9,684 crore," the bank said.

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Bandhan Bank Q3 Results: Net profit jumps 35.7% YoY

Bandhan Bank on January 21 posted a net profit of Rs 859 crore for the third quarter of financial year 2021-22, which marked a 35.7 percent year-on-year (YoY) jump as compared to Rs 633 crore profit logged in the same quarter last fiscal.

Net interest income (NII) for the quarter ending December 2021 grew by 2.6 percent to Rs 2,124.7 crore, as against Rs 2,071.7 crore in the year-ago period.Non-interest income surged by 26.7 percent to Rs 712.3 crore as compared to Rs 562.3 crore in the corresponding quarter of the previous year.

Operating profit increased by 1.4 percent YoY to Rs 1,950.1 crore. Net interest margin (annualised) for Q3 FY22 stood at 7.8 percent as against 7.6 percent in September 2021 quarter.

Commenting on the financial performance, Bandhan Bank MD and CEO Chandra Shekhar Ghosh said, “We have seen all round recovery during the quarter with improved collection and increase in disbursement."

Total deposits of the lender increased by 18.7 percent YoY to Rs 84,499.8 crore as of December 31, 2021, the bank said.

The lender also noted that its gross non-performing assets (NPAs), as of December 31, 2021, is at Rs 9,441.6 crore (10.81 percent) as against Rs 8763.6 crore (10.82 percent) as on September 30, 2021.

Net NPAs as of December 31, 2021, stood at Rs 2,413.1 crore (3.01 percent) as against Rs 2,265.8 crore (3.04 percent) as of September 30, 2021.

"Q4 historically has been the best quarter for the bank and we are positive of our business going forward. With Group loan share in total advances reduced to 52 percent, the bank is on track to achieve the diversification strategy which it had laid down for FY25," Ghosh added.

Bandhan Bank, in a press release, also noted that its outlets as of December 31, 2021, stood at 5,626. The network consists of 1,176 branches, 4,450 banking units as against 1,107 branches, and 4,090 banking units as of December 31, 2020.

The total number of ATMs stood at 489 as of December 31, 2021, against 487 as of December 31, 2020. During the quarter, the number of employees of the bank has gone up from 52,976 to 55,341, it added.

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IDBI Bank Q3 net profit surges 53%

IDBI Bank reported a 53% rise in net profit mainly due to a decrease in cost of funds, which helped boost both net interest income and net interest margin (NIM).Net profit rose to Rs.578 crore in the quarter, from Rs.378 crore a year ago.

Net interest income (NII), or the difference between the interest earned on loans and that paid on deposits, increased 31% to Rs.2,383 crore mainly as the bank's cost of funds fell 60 basis points year on year to 3.79% in December 2021.

The fall in its cost of funds also helped IDBI Bank improve its NIM, which is the difference between the yield a bank earns on loans and that it pays for deposits. NIM improved 101 bps to 3.88% from 2.87% a year ago.

The rise in NII and NIM masked a tepid loan growth of 5% led by a 13% year on year growth in mid corporate loans and a 5% growth in retail, agriculture and micro enterprises. Total deposits fell 1% as the bank moved away from high-cost bulk deposits.

CEO Rakesh Sharma acknowledged that the bank's loan growth has been slow but said he is confident of growing above 10% led by retail and mid corporate loans in the next fiscal. A drop in provisions also contributed to the bank's net profit. Provisions dropped 11% to ₹1,189 crore from ₹1,332 crore a year ago as the bank continued to improve recoveries.

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CSB Bank Q3 Results: Net profit up 25% QoQ

 

CSB Bank, in its quarterly earnings report on Friday, reported a total income of Rs 579.81 crore for the quarter ended December 31, 2021, as against Rs 555.64 crore a quarter previously. The bank also reported a net profit of Rs 148.25 crore, a quarter-on-quarter increase of 25% from Rs 118.57 crore.

According to the report, the company had gross non-performing assets (NPAs) worth Rs 388.95 crore, a 33.72 QoQ decrease, and net NPAs of Rs 199.74 crore, down a significant 46 percent QoQ.

The company further reported earnings per share of Rs 8.55 lakh (at a face value of Rs 10 per share), which was an increase of 25 percent QoQ, and paid-up equity capital of Rs 173.54 crore, the same as the previous quarter.

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