Vijaya Bank Q3 result, Profit rises fourfold to Rs230 crore

Vijaya Bank has locked in upper circuit of 20% at Rs 64, also its 52-week high on the BSE, after reported an over four-fold jump in net profit at Rs 230 crore for the quarter ended December 2016 (Q3FY17), due to higher other income. The state-owned bank had profit of Rs 53 crore in the same quarter year ago.

Net interest income (interest earned minus interest expended) increased by 22.7% at Rs 906 crore during quarter under review against Rs 738 crore in the corresponding quarter of previous fiscal. Other income jumped nearly three-fold to Rs 577 crore from Rs 209 crore over the previous year.

The bank’s assets quality improved on sequential basis with gross non-performing assets (NPAs) stood at 6.98% of gross advances, as on December 31, 2016 compared with 7.07% in the September 2016 quarter. The net NPAs stood at 4.74% against 5.10% in the preceding quarter.

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State Bank of Travancore(SBT) Q3 result, posts loss of Rs 68 crore

SBI associate State Bank of Travancore(SBT) today reported a net loss of Rs 67.76 crore for third quarter ended December due to four-fold jump in bad loans. 

The bank had registered a net profit of Rs 91.47 crore in the year-ago period, it said in a BSE filing. However, the third quarter figures show that bank's net loss narrowed as compared to net loss of Rs 587.69 crore in the second quarter ended September 2016. 

As asset quality of the public sector bank slipped further during the quarter, the gross non-performing assets (NPAs) rose to 12.22 per cent in December quarter up from 3.87 per cent a year ago. Net NPA stood at 8.03 per cent against 2.46 per cent a year earlier. 

In absolute value, gross NPAs were Rs 8,169.97 crore, against Rs 2,603.88 crore. Net NPAs rose to Rs 5,121.89 crore from Rs 1,628.07 crore a year earlier. Thus, to cover bad loans, bank had to make provisions including contingencies of Rs 441.61 crore in the December quarter as compared to Rs 318.65 crore a year ago. 

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UCO Bank Q3 result, posts loss shrinks 71% to Rs 437 cr

Public lender UCO Bank 's net loss narrowed by a huge 71 per cent to Rs 437.09 crore for the quarter ended December on lower provisions for bad loans. 

The bank had posted a net loss of Rs 1,497.01 crore for the same quarter in the previous fiscal. Net income fell 1.4 per cent to Rs 4,864.21 crore during the quarter, from Rs 4,934.63 crore a year ago. Provisions to cover bad loans and contingencies were at Rs 1,326.05 crore, down from Rs 2,360.84 crore in the previous fiscal. 

But the bank continued to grapple with high bad loan ratio, with gross net-performing assets firming up to 17.18 per cent of gross advances as on December 31, from 10.98 per cent a year earlier. 

Net NPAs came in at 8.09 per cent, up from 6.51 per cent, on a yearly basis. In absolute terms, gross NPAs rose to Rs 22,181.26 crore for the period from the earlier Rs 14,931.80 crore. 

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Bank of Maharashtra Q3 result, Posts loss of 182.51cr

Bank of Maharashtra on Tuesday posted a loss for the fourth straight quarter as bad loans continued to mount and provisions soared.

The bank reported a loss of Rs182.51 crore in the December quarter, versus a net profit of Rs89.06 crore a year ago.

Net interest income (NII) or the core income a bank earns by giving loans fell 27.7% to Rs702.14 crore from Rs971.43 crore last year. Other income increased 150.11% to Rs552.26 crore from Rs220.81 crore in the same period last year.Provisions and contingencies surged 69.7% to Rs585.41 crore in the quarter from Rs345.01 crore a year ago.

Gross non-performing assets (NPAs) rose 6.8% to Rs15,417.65 crore at the end of the December quarter from Rs14,433.90 crore in the September quarter. On year-on-year basis, it jumped 85.72% from Rs8,301.62 crore.

As a percentage of total loans, gross NPAs stood at 15.08% at the end of the December quarter as compared to 14.08% in the previous quarter and 7.97% in the year ago quarter.Net NPAs were at 10.67% in the December quarter compared to 9.94% in the previous quarter and 5.52% in the same quarter last year.

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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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