ICICI Bank Q3 result, Profit falls 19% to Rs2,441.82 crore

ICICI Bank on Tuesday reported a 19.09% decline in net profit for the December quarter as bad loans climbed.

Net profit for the quarter stood at Rs2,441.82 crore against Rs3,018.13 crore a year ago. According 20 analysts polled by Bloomberg had made a forecast a net profit of Rs2,466.7 crore.Net interest income (NII) or the core income a bank earns by giving loans fell marginally by 1.64% to Rs5,363.35 crore from Rs5,452.96 crore last year. Other income fell 6.61% to Rs3,938.31 crore from Rs4,216.88 crore in the same period last year.

Provisions and contingencies fell 61.7% to Rs2,712.70 crore in the quarter from Rs7,082.69 crore a quarter ago. On year on year basis they fell 4.62% from Rs2,844.05 crore.Gross NPAs (non performing assets) or bad loans rose 17.21% to Rs3,7716.73 crore at the end of the December quarter from Rs3,2178.60 crore in the September quarter. On year on year basis they jumped 78.34% from Rs21,149.19 crore.

As a percentage of total loans, gross NPAs stood at 7.91% at the end of the December quarter as compared to 6.82% in the previous quarter and 4.72% in the year ago quarter.Net NPAs were at 4.35% in the December quarter compared to 3.57% in the previous quarter and 2.28% in the same quarter last year.Deposits rose 14.23% to Rs4.65 trillion while advances rose 5.21% to Rs4.57 trillion.

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Syndicate Bank Q3 result, Profit rises to Rs93 crore

Syndicate Bank on Tuesday reported a profit for the December quarter compared to a loss in the same quarter last year, owing to lower provisioning and higher other income.

Net profit for the quarter was Rs93.56 crore as compared to a loss of Rs119.67 crore a year ago. Three analysts polled by Bloomberg had forecast a net profit of Rs344.80 crore.

Net interest income (NII), or the core income a bank earns by giving loans, decreased 8.23% to Rs1,391.34 crore from Rs1,516.04 crore last year. Other income increased to Rs985.95 crore from Rs551.07 crore in the same period last year, a rise of 78.92%.

Gross non-performing assets (NPAs) rose 5.55% to Rs16,948.08 crore at the end of the December quarter from Rs16,056.73 crore in the September quarter. On year-on-year basis, it jumped 76.49% from Rs9,602.80 crore.Provisions and contingencies dropped 9.19% to Rs784.74 crore in the quarter from Rs864.14 crore a quarter ago. On a year-on-year basis, it lost 8.73% from Rs859.77 crore.

As a percentage of total loans, gross NPAs rose to 8.69% at the end of the December quarter from 7.72% in the previous quarter and 4.61% in the year-ago quarter.Net NPAs rose to 5.63% in the December quarter from 5.03% in the previous quarter and 3.04% in the same quarter last year.

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IDFC Bank Q3 result, Profit falls 21% to Rs 191 cr

Private lender IDFC Bank  today reported a 21 percent fall in net profit at Rs 191.26 crore for the December quarter on account of rise in bad loans. 

The bank had earned a net profit of Rs 242.16 crore during the same quarter of the previous fiscal, IDFC Bank said in statement. However, total income of the bank rose to Rs 2,585.9 crore from Rs 2,007 crore in the year-ago period. 

Its portfolio quality deteriorated with gross non-performing assets (NPAs) rising to 7.03 percent of gross advances as against 3.09 percent in the same quarter of the previous fiscal. 

The bank's net non-performing assets also jumped to 2.57 percent, from the earlier 0.98 percent. As a result, provisions and contingencies other than tax of the bank rose nearly 19-fold to Rs 231.75 crore during the quarter as compared to Rs 12.29 crore in the same quarter a year ago.

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Indian Bank Q3 result, Profit jumps over 7-fold to Rs 373 cr

State-owned Indian Bank  's net profit jumped more than seven-times to Rs 373.48 crore for third quarter of the current fiscal, mainly on account of less provisioning for bad loans. 

The bank had reported a net profit of Rs 48.48 crore in the October-December quarter of 2015-16. "Total income has increased to Rs 4,557.25 crore for the quarter ended December 31, 2016 from Rs 4,444.58 crore for the same quarter a year ago," it said in a regulatory filing. Bank's core income fell marginally to Rs 3,957.56 crore from Rs 3,999.39 crore a year earlier. 

However, income from other sources rose by 35 percent to Rs 599.70 crore as against Rs 445.19 crore. The net non-performing assets (NPAs) as a percentage of total loans rose to 7.69 percent at the end of December 31, from 5.61 percent in same period last year. 

Net NPAs stood at 4.76 percent of net advances disbursed till December-end, little higher from 3.17 percent in the same period last fiscal. The bank's provisions for bad loans and contingencies came down by 25 percent to Rs 540.29 crore for the reported quarter, compared to Rs 718.05 crore parked aside during the same period a year earlier. 

"The non-performing loan provisions coverage ratio is 56.46 percent as on December 31, 2016," Indian Bank said.

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Karur Vysya Bank Q3 result, Profit down 24% at Rs 115.76 cr

Private sector lender Karur Vysya Bank   today reported a 24.25 percent decline in net profit at Rs 115.76 crore for the third quarter ended December 31, 2016 on account of higher expenses. 

The bank had reported a net profit of Rs 152.83 crore in the same quarter of the previous fiscal. The bank's total income growth during October-December period of current financial year increased 3.67 percent to Rs 1,581.26 crore, from Rs 1,525.14 crore in the year-ago period. 

On the asset quality front, gross non-performing assets (NPAs) or bad loans stood at 2.66 percent of the total advances compared with 1.91 percent in the corresponding year-ago period while net NPAs were at 1.68 percent during the quarter as against 0.96 percent, in the comparable period a year ago. 

The bank's expenses went up by 9.15 percent to Rs 1,309.44 crore in the third quarter from Rs 1,199.57 crore in the corresponding period of the previous fiscal.

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Kotak Mahindra Bank Q3 result, Profit rises by 39%

Kotak Mahindra Bank on Wednesday reported a 38.60% increase in net profit on the back of increase in net interest income and other income.Net profit for the quarter increased to Rs879.76 crore compared with Rs634.72 crore a year ago. According to estimates of nine Bloomberg analysts, the bank was expected to post a net profit of Rs815.40 crore.

Net interest income (NII), or the core income a bank earns by giving loans, rose 16.08% to Rs2050.32 crore in the December quarter from Rs1766.21 crore last year.

Other income increased 26.04% to Rs910.22 crore in the third quarter from Rs722.16 crore in the same period last year.Gross non-performing assets (NPAs) of Kotak Mahindra Bank decreased marginally to Rs3,177.88 crore at the end of the December quarter from Rs3,180.66 crore in the September quarter.

As a percentage of total loans, gross NPAs were 2.42% at the end of the December quarter compared with 2.49% in the previous quarter and 2.30% a year ago.Provisions and contingencies fell 18.34% to Rs192.10 crore in the third quarter from Rs235.25 crore a quarter ago.Net NPAs rose to 1.07% in the December quarter compared with 1.20% in the previous quarter and 0.96% in the same quarter last year.

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State Bank of Mysore(SBM) Q3 result, posts loss of Rs 20 cr

State Bank of Mysore(SBM), an SBI associate, today reported a loss of Rs 20.25 crore for the quarter ended December 31, on higher provisioning. 

The bank's net profit during the corresponding quarter in 2015-16 was Rs 26.94 crore. 

Total income increased to Rs 1,978.85 crore during the reported quarter from Rs 1,940.22 crore earned in the year ago period, the bank said in a BSE filing. 

During the October-December quarter of 2016-17, the bank made provisioning and contingencies to the tune of Rs 384.85 crore as against Rs 253.91 crore in the previous fiscal. 

The gross non-performing assets (NPAs) were at 14.46 per cent of the gross advances as of December 31, as against 5.48 per cent in last fiscal. 

Net NPAs or bad loans stood at 9.22 per cent of net advances, slightly up from 3.12 per cent a year ago.

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Indian Overseas Bank Q3 result, Loss nearly halves to Rs554.44 crore

Indian Overseas Bank on Tuesday said it nearly halved its third-quarter loss from a year earlier, helped by higher other income and lower provisions against bad loans.

The public sector lender reported a loss of Rs554.44 crore for the quarter ended 31 December, compared with a loss of Rs1,425 crore in the same quarter a year earlier.The bank reported net interest income (NII)--or the difference between interest earned on loans and that spent on deposits—of Rs1,334.76 crore in the October-December period, marginally lower than Rs1,348 crore a year earlier.

Other income rose 34.6% on a year-on-year basis to Rs718 crore.Provisions during the third quarter dropped 26% on a year-on-year basis to Rs1,406 crore. In the July-September quarter, the bank had set aside provisions worth Rs1,697 crore.

Gross non-performing assets (NPAs) dropped marginally by 0.64% on a quarter-on-quarter basis to Rs34,502 crore in the December quarter. Net NPA were reported at Rs19,900.75 crore, down 4.16% sequentially.During the quarter, the bank recovered loans worth Rs2,446 crore, it said in a statement to the exchanges. In the first nine months of this financial year, the total recovery was at Rs5,981 crore.

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HDFC Bank Q3 result, Profit rises 15% to Rs3,870 crore

HDFC Bank Ltd, India’s third-biggest lender by assets, on Tuesday reported a 15 percent rise in third-quarter net profit, above analyst estimates, due to higher interest and fee income.

Net profit was Rs3,870 crore ($567.91 million) for the three months to Dec. 31, compared with Rs3,357 crore reported a year ago, said HDFC Bank, India’s most valuable bank.Analysts on average had expected a net profit of Rs3,788 crore, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans were 1.05 percent in the December quarter, versus 1.02 percent in the September quarter. HDFC Bank has far lower bad loans than its bigger rivals, thanks to its stronger retail business and smaller exposure to project finance.

India’s banking industry has been hit by the government’s shock cancellation in November of 86 percent of its currency in circulation, which forced many institutions to scramble to replace the high-value banknotes.

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RBL Bank Q3 result, Profit rose to Rs128.69 crore

RBL Bank Ltd, formerly known as Ratnakar Bank, reported a 59% year-on-year increase in net profit for the December quarter, benefiting from higher interest and non-interest income.

The bank’s profit rose to Rs128.69 crore in the three months from Rs81.05 crore a year ago.

Net interest income, the difference between interest earned on loans and that paid on deposits, rose 45% from a year ago to Rs321.58 crore in the fiscal third quarter. Non-interest income including fees and commissions rose 66% year-on-year to Rs182.26 crore.

The net interest margin for October-December widened to 3.38% from 3.24% a year ago.

Gross non-performing assets (NPAs) as a ratio of gross advances as of 31 December were at 1.06%, lower than 1.1% as of 30 September. The net NPA ratio at the end of the third quarter was 0.52%, down from 0.55% in the second quarter.

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State Bank of Bikaner and Jaipur(SBBJ) Q3 result, net profit falls 71.94%

State Bank of Bikaner and Jaipur(SBBJ) on Friday reported a 71.94% decline in its net profit for the December quarter due to increase in provisions. Net profit for the December quarter reduced to Rs57.84 crore as compared to Rs206.13 crore a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, declined by 21.16% to Rs685.16 crore in the December quarter from Rs869.09 crore last year.

Other income increased 67.96% to Rs383.54 crore in the third quarter from Rs228.34 crore in the same period last year.

Gross non-performing assets (NPAs) at the bank rose 3.23% to Rs7,917.35 crore at the end of the December quarter from Rs7,669.21 crore in the September quarter. As a percentage of total loans, gross NPAs were at 11.19% at the end of the December quarter as compared to 10.50% in the previous quarter and 4.22% in the year-ago quarter.

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Canara Bank Q3 result, Posts fourfold increase in net profit

Canara Bank on Friday reported a fourfold increase in net profit in the December quarter on increase in other income.

Net profit for the quarter increased to Rs321.88 crore compared with Rs84.97 crore a year ago. According to estimates of 10 Bloomberg analysts, the bank was expected to post a net profit of Rs345.40 crore.

Net interest income (NII), or the core income a bank earns by giving loans, rose 8.40% to Rs2,413.80 crore in the December quarter from Rs2,226.60 crore last year.

Other income increased 53.32% to Rs1,791.70 crore in the third quarter from Rs1,168.56 crore in the same period last year.

Gross non-performing assets (NPAs) at Canara Bank rose 3.07% to Rs34,338.65 crore at the end of the December quarter from Rs33,315.40 crore in the September quarter. As a percentage of total loans, gross NPAs were 9.97% at the end of the December quarter compared with 9.81% in the previous quarter and 5.84%a year ago.

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Yes Bank Q3 result, Profit rises 30.62%

Yes Bank Ltd on Thursday said its net profit for the December quarter rose 30.62% from a year ago due to higher net interest income and lower provisions.

Net profit for the quarter stood at Rs882.63 crore compared to Rs675.74 crore a year ago. According to 17 analysts polled by Bloomberg, net profit forecast was at Rs822.10 crore.

Net interest income (NII), or the core income that a bank earns by giving loans, increased 30.3% to Rs1,507.50 crore. Other income increased to Rs998.35 crore—a rise of 33.81%.

Provisions and contingencies fell 28.6% to Rs115.38 crore in the quarter from Rs161.67 crore a quarter ago. On a year-on-year basis, it declined 22%.

The bank said it did not sell any loans to asset reconstruction companies, not made any additional restructuring and not refinanced additional account via 5:25 during the quarter.

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Axis Bank Q3 result, Profit falls 73.4% to Rs579.57 crore

Private sector lender Axis Bank Ltd on Thursday said net profit for the December quarter fell 73.4% from a year ago as provisions soared.

Net profit for the quarter stood at Rs579.57 crore as compared to Rs2175.30 crore a year ago. A Bloomberg poll of 22 analysts had forecast a net profit of Rs830.30 crore.

Net interest income (NII) or the core income a bank earns by giving loans increased just 4.12% to Rs4,333.73 crore from Rs4,162.06 crore last year. Other income jumped 45.45% to Rs3,400.21 crore from Rs2,337.78 crore in the same period last year.

Provisions and contingencies rose 4.78% to Rs3,795.80 crore in the quarter from Rs3,622.74 crore a quarter ago. On a year-on-year basis, it surged 433% from Rs712.59 crore.

Gross NPAs rose 220.9% to Rs2,0466.82 crore at the end of the December quarter from Rs6,378.65 crore in the September quarter. On a year-on-year basis, it jumped 257.56% from Rs5,724.05 crore.

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Lakshmi Vilas Bank Q3 result, Profit jumps 70% to Rs78.38 crore

Lakshmi Vilas Bank Ltd on Thursday said its net profit for the December quarter jumped 70.12% from a year ago on higher net interest income, other income and lower provisions.

Net profit for the quarter stood at Rs78.38 crore as compared to Rs46.07 crore a year ago. Two Bloomberg analysts had earlier forecast a net profit of Rs66.75 crore.

Net interest income (NII), or the core income a bank earns by giving loans, increased 14.1% to Rs190.62 crore from Rs167.07 crore last year. Other income surged 116% to Rs150.22 crore from Rs69.33 crore in the same period last year.

Provisions and contingencies fell 23.18% to Rs48.07 crore in the quarter from Rs62.57 crore a quarter ago. On year-on-year (y-o-y) basis, they declined 17% from Rs57.91 crore.

Gross non-performing assets (NPAs) rose marginally by 0.46% to Rs548.6 crore at the end of the December quarter from Rs546.11 crore in the September quarter. On y-o-y basis, it jumped 65.45% from Rs331.57 crore.

As a percentage of total loans, gross NPAs were 2.78% at the end of the December quarter as compared to 2.7% in the previous quarter and 1.82 % in the year-ago quarter. Net NPAs were at 1.82% in the December quarter compared to 1.87% in the previous quarter and 0.8% in the same quarter last year.

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Federal Bank Q3 result, Profit rises 26.38% to Rs205.65 crore

Federal Bank Ltd on Thursday reported a 26.38% increase in its net profit for the December quarter due to increase in net interest income and other income.

Net profit for the quarter stood at Rs205.65 crore compared to Rs162.72 crore a year ago. According to estimates of 15 Bloomberg analysts, the bank was expected to post a net profit of Rs203 crore.

                                  

Net interest income (NII), or the core income a bank earns by giving loans, rose 30.74% to Rs791.93 crore in the December quarter from Rs605.69 crore last year.

Other income increased 44.03% to Rs263.33 crore from Rs182.82 crore in the same period last year.

Gross non-performing assets (NPAs) at Federal Bank rose 7.24% to Rs1,951.55 crore at the end of the December quarter from Rs1,819.72 crore in the September quarter. On a year-on-year basis, gross NPAs jumped 15.88% from Rs1,684.11 crore. As a percentage of total loans, gross NPAs were at 2.77% at the end of the December quarter, against 2.78% in the previous quarter and 3.15% in the year-ago quarter.

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DCB Bank Q3 result, Profit up

Private sector lender DCB Bank Ltd on Saturday reported a 25% surge in December quarter net profit at Rs51 crore, driven primarily by a growth in the core interest income.

The lender had reported a post-tax profit of Rs41 crore in the year-ago period. Its net interest income rose 31% to Rs209 crore, while the non-interest income was up Rs36 crore to Rs64 crore during the quarter. The share of low-cost current and savings account balances increased to 25.85% as on 31 December, from the 21.91% three months ago, on the back of a surge in deposits following the government’s demonetisation move.

The surge in deposits, coupled with a massive slowdown in advances (which grew only 2% sequentially) led to a drop in the credit-deposit ratio to 77.41% from 83.33% in the year-ago period. The bank’s net interest margin was down 3.95% as against 3.96% in the year-ago period, primarily due to pressure on yield on advances, managing director and chief executive Murali Natrajan said. He added the bank is confident of sustaining the number but may not bother much if it dips to up to 3.70%.

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South Indian Bank Q3 result, Profit up by 9.59% to 111.38 cr

Private sector lender South Indian Bank said profit in the quarter ended December 2016 grew by 9.59% to Rs111.38 crore compared with Rs101.63 crore in year-ago period but asset quality worsened.

                                           

       

       Net interest income (NII)—the difference between interest earned and interest expended—during the quarter increased 2.66% year-on-year to Rs417.52 crore. Earnings were below Bloomberg analysts’ expectations as they predicted profit to be Rs113.80 crore.

Asset quality weakened during the quarter as gross non-performing assets (NPAs) increased to 3.98% in the quarter ended December 2016 from 2.75% quarter ended December 2015 and net NPA rose to 2.52% from 1.80% in corresponding quarter last year.

In absolute terms, gross NPAs jumped 61.28% year-on-year to Rs1,786.98 crore and net NPAs were up 55.82% at Rs1,115.66 crore in the quarter ended December 2016.

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IndusInd Bank Q3 result,net profit rises 29.2%

IndusInd Bank on Tuesday said its net profit for the third quarter rose 29.19% due to higher net interest income and other income.

Net profit for the quarter stood at Rs750.64 crore as compared to Rs581.02 crore a year ago. Nine analysts polled by Bloomberg had made a forecast a net profit of Rs725.20 crore.

Net interest income (NII) or the core income a bank earns by giving loans increased 34.51% to Rs1,578.42 crore from Rs1,173.42 crore last year. Other income increased to Rs1016.80 crore from Rs839 crore in the same period last year, a rise of 21.19%.

Gross NPAs rose 8.08% to Rs971.62 crore at the end of the December quarter from Rs899.01 crore in the June quarter. On year-on-year basis it jumped 42.65% from Rs681.13 crore.Provisions and contingencies jumped 1.39% to Rs216.85 crore in the quarter from Rs213.88 crore a quarter ago. On a year-on-year basis it jumped 22.46% from Rs177.08 crore.

As a percentage of total loans, gross NPAs stood at 0.94% at the end of the December quarter as compared to 0.9% in the previous quarter and 0.82% in the year ago quarter.Net NPAs were at 0.39% in the December quarter compared to 0.37% in the previous quarter and 0.33% in the same quarter last year.

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