South Indian Bank back in black on lower provisioning

South Indian Bank on Friday reported a net profit of Rs 6.79 crore for the fourth quarter of FY21, against a loss of Rs 143.69 crore in the year-ago period, largely because of lower provisioning for bad loans. Provisions and contingencies for the fourth quarter stood at Rs 412.29 crore, compared with Rs 723.80 crore in the corresponding period of FY20 and Rs 499.48 crore in Q3 of FY21.

The Thrissur based lender had reported a net loss of Rs 91.62 crore during the third quarter of FY21. For the whole FY21, the bank has reported a net profit of Rs 61.91 crore, against Rs 104.59 crore in FY20.

The asset quality deteriorated, with GNPA ratio seen at 6.97%, compared to 4.90% in the preceding quarter and 4.98% in the year-ago period. Net NPA ratio for Q4 was at 4.71%, against 2.1% in Q3 and 3.34% in Q4 of FY20.

The provision coverage ratio improved from 54.22% to 58.73% on a year-on-year (y-o-y) basis.

Murali Ramakrishnan, MD & CEO, said the bank has been able to meet the targeted levels of recovery or upgrades which have helped in containing the GNPA level despite higher slippages during the year on account of Covid.

He added that the lower quarterly profit was mainly on account of credit cost on the fresh slippages during the fourth quarter, as a result of additional stress in the economy due to the pandemic.

The capital adequacy ratio stood at 15.42% as on March 31, 2021. The lender raised Rs 240 crore during the quarter which strengthened the common equity.

Total deposit base at the end of the March quarter is seen higher by 9% y-o-y at Rs 69,827 crore, while advances declined by 9% to Rs 59,418 crore.

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State Bank of India(SBI) Q4 net profit jumps 80% YoY

 State Bank of India(SBI) today reported a record net profit of ₹6451 crore for the quarter ended March 31, 2021, helped by lower provisions for bad loans. The fourth quarter profit is a big jump from ₹3,581 crore in the year-earlier quarter. The central board of the bank has also declared a dividend of Rs. 4.00 per equity share for the financial year ended 31st March,2021, its first payout since May 2017, when it had rewarded shareholders with ₹2.6 per share. The date of payment of dividend is fixed on 18th June, 2021, the bank said.

India's biggest bank, State Bank of India (SBI) today reported a record net profit of ₹6451 crore for the quarter ended March 31, 2021, helped by lower provisions for bad loans. The fourth quarter profit is a big jump from ₹3,581 crore in the year-earlier quarter. The central board of the bank has also declared a dividend of Rs. 4.00 per equity share for the financial year ended 31st March,2021, its first payout since May 2017, when it had rewarded shareholders with ₹2.6 per share. The date of payment of dividend is fixed on 18th June, 2021, the bank said.

According to a Bloomberg estimate of 10 analysts, the public sector lender was expected to report a profit of ₹6,166.2 crore in the three months to March, up from ₹3,580.8 crore in the same period last year.

According to a Bloomberg estimate of 10 analysts, the public sector lender was expected to report a profit of ₹6,166.2 crore in the three months to March, up from ₹3,580.8 crore in the same period last year.

The lender reportedly received a windfall of nearly 40 billion rupees as part of dues owed by bankrupt steelmaker Bhushan Power and Steel.

Provisions for bad loans slid 16.6% to ₹9914 crore.

On Covid impact, the bank said: "The spread of the pandemic across the globe has resulted in decline in economic activities and increase in movement in financial markets. In this situation, Bank is gearing up itself on all fronts to meet the challenges. The situation continues to be uncertain and the Bank is evaluating the situation on an ongoing basis. Major challenges for the Bank could be from extended working capital cycles, fluctuating cash flow trends and probable inability of the borrowers to meet their obligations against the loans timely."

"The bank is proactively providing against the challenges of likely stress on the bank's assets. A definitive assessment of the impact of COVID-L9 is dependent upon circumstances as they evolve in the subsequent period."

SBI shares, which are up about 40% so far this year, were trading marginally higher at ₹385.95 in late trade today.

Most Indian banks have reported strong numbers for the final quarter of the last financial year on a lower base and as retail lending picked up before the second coronavirus wave. Collections and credit growth have since been hit and lenders are now on a "wait-and-watch" mode.

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Canara Bank Q4 result: reports net profit

 

Canara Bank swung to profit in March quarter as it reported a net profit of Rs.1,011 crore in Q4FY21 as compared to Rs.3,259 crore of net loss posted in the same quarter last year. The bank's net interest income (NII) rose 68.4% to Rs.5,589 crore as against Rs.3,318 crore year-on-year (YoY).

The asset quality deteriorated as the gross non-performing assets (NPA) stood at 8.93% versus 7.46% on a sequential basis while the net NPAs stood at 3.82% as compared to 2.64%. Provisions and contingencies fell to Rs.4,134 crore from Rs.5,375.38 crore on a yearly basis.

Canara Bank's other income in Q4 jumped to Rs.5,207 crore from Rs.2,174.95 in the corresponding quarter of the previous fiscal.

The bank said that the ongoing Covid situation continues to be uncertain and it is evaluating the situation on an ongoing basis. The major identified challenges for the Bank would arise from eroding cash flows and extended capital cycles.

Despite the challenges, the management believes that no adjustments are required in the financial results as it does not significantly impact the current quarter. Despite these events and conditions, there would not be any significant impact on Bank's results in future and going concern assumptions as at presently made, it ad.

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DCB Bank Q4 profit rises 13%

 

Private lender DCB Bank on Saturday reported a 13 per cent increase in net profit to Rs 78 crore for the January-March quarter compared to that of Rs 69 crore in the year-ago quarter. Total income of the bank during the January-March quarter of 2020-21 fell to Rs 971 crore from Rs 1,012 crore in the same quarter of 2019-20, DCB Bank said in a regulatory filing. The income from interest as well as from investment fell during the reported quarter from a year ago.

For the FY2020-21, the bank's net profit remained nearly flat at Rs 336 crore against Rs 338 crore in FY20. Income also was a tad down at Rs 3,917 crore in FY21 against Rs 3,928 crore in FY20.

The bank's asset quality worsened with the gross non-performing assets (NPAs) spiking to 4.09 per cent of the gross advances as of March 31, 2021, as against 2.46 per cent by the end of March last year.

In value terms, the gross NPAs stood at Rs 1,083.44 crore, significantly higher than Rs 631.51 crore in the year-ago period.

Provisions for bad loans and contingencies in Q4FY21 came down to Rs 101.18 crore from Rs 118.24 crore a year earlier. Net NPAs stood at 2.29 per cent (Rs 594.15 crore) as against 1.16 per cent (Rs 293.51 crore).

On returning the compound interest to eligible borrowers post the Supreme Court final order in March and subsequent the RBI notification, the lender said it is in the process of account by account calculation of interest relief due to the eligible customers.

In the meantime, as of March 31, 2021, the bank has created liability towards estimated interest relief of Rs 10 crore and reduced the same from the interest income.

The bank said it held contingency provision of Rs 229.11 crore against the likely impact of Covid 19 regulatory package, impact of the conclusion of the interim order (of Supreme Court on not declaring accounts as NPAs till August 31, 2020 and after) and other contingencies.

On the impact of second wave of the pandemic, it said under the current circumstances the bank during March quarter, on a prudent basis, has made a contingency provision of Rs 124 crore towards further likely impact of Covid-19 on restructured and stressed assets.

"In addition to this contingency provision of Rs 124 crore, the bank also holds floating provision amounting to Rs 108.80 crore, besides, provisions for standard assets and specific non-performing assets," it said.

Besides, the amount in overdue categories where the moratorium or deferment was extended as of March 31, 2020 was Rs 1,908.08 crore at end of March this year, it said. The provisions held on these by the end of September 2020 was Rs 68 crore and similar amount was kept as provisions adjusted against slippages (NPA and restructuring), DCB Bank said.

The lender also said that its board has not recommended any dividend for fiscal ended March 2021 in view of the situation developing around Covid-19 in the country and the related uncertainty that it creates.

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IDFC First Bank Q4 Profit jumps 78%

 

IDFC First Bank on Saturday reported a 78 per cent jump in net profit at Rs 128 crore for the fourth quarter ended March 2021. The private sector lender had posted a profit of Rs 72 crore during the corresponding January-March quarter a year ago.

Total income during the fourth quarter rose to Rs 4,834 crore as against Rs 4,576 crore during the same period of FY20, IDFC First Bank said in a regulatory filing.

On the asset front, the gross non-performing assets (NPAs) or bad loans as a percentage of gross loans as on March 31, 2021, increased to 4.15 per cent from 2.60 per cent by year ago same period.

At the same time, net NPAs too rose to 1.86 per cent as against 0.94 per cent in March 2020.As a result provision (other than tax) and contingencies rose to Rs 603 crore as compared to Rs 412 crore in the same quarter a year ago.

In Q4 FY21, the bank released Rs 324 crores from provisions made for one telecom account based on mark to market value of the instruments and made additional provisions of Rs 375 crore for COVID-19 which is carried forward to the next financial year for the unprecedented situation arising due to COVID-19 second wave in India, it said.

For the full year 2020-21, the bank posted a profit of Rs 452 crore as against loss of Rs 2,864 crore in the previous fiscal.Total income during the year rose to Rs 18,221.5 crore from Rs 18,029.7 crore in the previous year.

"Including the equity capital of Rs 3000 crore raised through QIP on April 6, 2021, our overall capital adequacy is strong at 16.32 per cent. We maintain high levels of liquidity with liquidity coverage ratio of 153 per cent," IDFC First Bank MD V Vaidyanathan said.

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RBL Bank reports 34% drop in Q4 net profit as provisions rise

Private sector lender RBL Bank Ltd on Tuesday reported a net profit of ₹75.3 crore for the three months to March, down 34% from the same period last year owing to lower net interest income and higher provisions.

Its profits were lower than ₹102 crore estimated by a Bloomberg poll of seven analysts. The bank’s total provisions stood at ₹766 crore in Q4 FY21, up 27.5% from the same period last year.

The bank’s net interest margin (NIM), a key measure of profitability, stood at 4.17% in the March quarter, down 2 basis points (bps) sequentially. Its net interest income (NII) or the difference between interest earned and expended declined 11% y-o-y to ₹906 crore in Q4 FY21. The bank said there was an interest reversal of ₹85 crore in Q4 and a similar quantum in Q3 as well. That apart, Q4 also saw an additional burden of ₹13 crore for compound interest waiver for the six-month moratorium period.

As a percentage of total loans, gross non-performing assets (NPAs) stood at 4.34%, compared to 1.84% in the previous quarter. Its net NPAs were at 2.12% in the March quarter, compared to 0.71% in the previous quarter.

“We are confident of managing future asset quality outcome at prudential level. We therefore are well positioned for decent growth in FY22 and beyond," said Vishwavir Ahuja, chief executive, RBL Bank.

Ahuja said that having recognized and adequately provide for the stress emanating from identified pool of corporate accounts in FY20, the slippages during FY21, were primarily, almost 80%, from the retail segment owing to the impact of covid-19.

RBL Bank’s total deposits rose 26% y-o-y to ₹73,121 crore in Q4 FY21. Its current and savings account (Casa) deposits grew 36% y-o-y and ₹23,264 crore in the March quarter. Its net advances stood at ₹58,623 crore as on 31 March 2021, up 1% y-o-y. Retail loans witnessed a growth of 13% in Q4 FY21 against the same period last year.

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Kotak Mahindra Bank Q4 results: Net Profit Rises 33%

 

Kotak Mahindra Bank reported a 33% year-on-year increase in standalone profit to Rs 1,682.4 crore in the quarter ended March 2021. The lender clocked 8% year-on-year rise in net interest income to Rs. 3,843 crore for the quarter. Net Interest Margin (NIM) for Q4FY21 was at 4.39%. Operating profit for the quarter recorded at Rs 3,407 crore, up 25% from Rs 2,725 crore in Q4FY20.

The average savings deposits with the bank grew by 27% to Rs 108,812 crore for FY21 compared to Rs 85,656 crore for FY20. Average Current Account deposits grew by 17% to Rs 39,481 crore for FY21 compared to Rs 33,699 crore for FY20.

Advances were Rs 223,689 crore in Q4FY21, 4.5% quarter-on-quarter rise from Rs 214,103 crore in December quarter. Customer assets, which includes advances and credit substitutes, were Rs 238,857 crore as during March 31, up 4.4% from Rs 228,809 crore in Q3FY21.

CASA ratio as at March 31, 2021 stood at 60.4% compared to 56.2% as at March 31, 2020. “CASA and TDs below Rs 5 crore as at March 31, 2021, constituted 91% of total deposits (86% as at March 31, 2020). TD Sweep deposits as at March 31, 2021 were 7.5% of total deposits (6.6% as at March 31, 2020)," the lender said in a statement.

The gross non-performing assets ratio stood at 3.25% during Q4FY21 compared to 3.27% in the previous quarter. Net NPA ratio declined to 1.21%, from 1.24% in the previous quarter.

“COVID related provisions as at March 31, 2021 stood at Rs 1,279 crore. In accordance with the Resolution Framework for COVID-19 and MSME announced by RBI, as at March 31, 2021, the bank has implemented, for certain eligible borrowers, restructuring of Rs 435 crore," Kotak Mahindra said in a statement.

“Consolidated PAT for FY21 increased to Rs 9,990 crore from Rs 8,593 crore in FY20 up 16% and for Q4FY21 increased to Rs 2,589 crore from Rs 1,905 crore in Q4FY20 up 36%," the lender said in a statement. For FY21, the Bank’s contribution to the consolidated PAT was Rs 6,965 crore. Net contribution of the subsidiaries & associates stood at 30% of the consolidated PAT, it further added.

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Yes Bank Q4 net loss widens marginally

 

Private lender Yes Bank's standalone net loss widened marginally to Rs 3,788 crore in the March quarter of FY21 as against net loss of Rs 3,668 crore a year ago. The lender posted net profit of Rs 148 crore in the December quarter.

Deposits rose 55 per cent on an annual basis to Rs 1.62 trillion. Net interest income declined 23 per cent to Rs 987 crore as against Rs 1,274 crore in the year-ago period.

"FY21 was the year of rebuilding the foundation of YES Bank. Bank demonstrated significant improvement in performance across key indicators despite severe headwinds of Covid-19 and moratorium imposed on the bank in March 2020," the lender said on Friday in a stock exchange filing.

Provisions rose 7.5 per cent during the quarter to Rs 5,240 crore as compared to Rs 4,872 crore in March 2020.

Despite elevated slippages, the bank has prudently made accelerated provisioning reflected in the Provision Coverage Ratio (PCR) for NPA at 79 per cent, said YES Bank.

On Friday, the bank's scrip on NSE closed 0.7% higher at Rs 14.60.

During the quarter, the total income of the bank declined to Rs 4,805.30 crore from Rs 5,818.59 crore in the same period a year ago, Yes Bank said in a regulatory filing.

At the same time, provisions (other than tax expense) and contingencies rose to Rs 5,239.59 crore as compared to Rs 4,872.34 crore.

On the asset front, the bank's gross non-performing assets (NPAs) as of March 31, 2021 stood at 15.41 per cent of the gross advances, slightly down from 16.80 per cent in the year-ago period.

However, net NPAs rose to 5.88 per cent from 5.03 per cent in the year-ago period.

For the full 2020-21 fiscal, the bank narrowed its net loss to Rs 3,462.23 crore from a loss as high as Rs 16,418.02 crore in the previous year.

Total income during the year also witnessed a decline to Rs 23,382.56 crore from Rs 29,508.10 crore a year ago.

The bank said proactive provisioning of Rs 250 crore towards COVID-19 related restructuring (Rs 2,500 crore) is expected to be implemented in first quarter of the current fiscal.

"Deferred tax asset of Rs 9,354 crore as at March 31, 2021 is carried in the balance sheet, as basis financial projections approved by the Board of Directors, there is reasonable certainty of having sufficient taxable income to enable realization of the said deferred tax asset as specified in Accounting Standard 22 (Accounting for Taxes on Income)," it said.

The current second wave of COVID-19 pandemic has resulted in reimposition of localised lockdowns in various parts of the country, it said, adding the extent to which the pandemic will impact the bank's results will depend on ongoing as well as future developments, which are highly uncertain.

On March 5, 2020, the Reserve Bank had imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor, after it found that the new management was unable to raise the urgent core capital which had fallen much below the mandated level.

Later, the Union Cabinet cleared a rescue package for the bank involving a Rs 7,250 crore investment by the State Bank of India (SBI). Four private lenders also committed an additional Rs 3,100 crore as part of the rescue plan.

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IDBI Bank back in black in FY21 after five years

LIC-controlled IDBI Bank turned profitable in the fiscal ended March after five years, posting a net profit of Rs.1,359 crore for the year.

In 2019-20, the lender had posted a net loss of Rs.12,887 crore. IDBI Bank is back in black after five years, said the lender.

In the last quarter of the fiscal year 2020-21, the bank reported an almost fourfold jump in its net profit to Rs.512 crore, IDBI Bank said in a press release

The bank, which came out of the RBI’s prompt corrective action (PCA) framework earlier in March, said its turnaround strategies led to the transformation.

Total income during Q4FY21 rose to Rs.6,969.6 crore from Rs.6,924.9 crore in the same period of 2019-20.

The full year income, however, was down to Rs.24,557 crore against Rs.25,295 crore.

Gross NPA (non-performing asset) ratio improved to 22.4% as on March 31 against 27.5%. Net NPA ratio improved to 1.9% from 4.2%

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Bank of Maharashtra(BoM) Q4 results: Net profit jumps nearly three times

 

State-owned Bank of Maharashtra reported nearly three times jump in net profit for the fourth quarter at Rs 165 crore owing to the rise in net interest income and recovery from written off accounts which more than offset the additional Rs 508 crore provision to cover the pandemic-related risks.Its net profit was Rs 57 crore in the year ago period.

The bank is expecting to grow its credit book by around 15% this year, as against the 13% rise seen last year, and will be looking to raise equity to support credit expansion. The size of equity raising for the full year has not been firmed up while the bank’s board has created an enabling resolution to raise up to Rs 5,000 crore. Its advances portfolio stood at Rs 1.08 lakh crore.

Bank managing director AS Rajeev attributed the sharp rise in net profit to “all round performance”. He expressed hope that the impact of the second wave might not be severe like last year, when the economic activities plummeted amid prolonged national lockdowns.

Its operating profit grew 2.6 times at Rs 1,540 crore from Rs 595 crore in the year ago period, supported by 35% rise in net interest income at Rs 1,383 crore. Net interest margin, a parameter to gauge profitability, improved to 3.1% for the quarter under review as against 2.4% in the year ago period.

The lender recovered Rs 738 crore from errant borrowers and this includes recovery from written off accounts. Recovery from written off accounts adds to the profit as these were fully provided for.

The bank’s fee based income rose 22% to Rs 315 crore while other income jumped 86% to Rs 727 crore.

Its asset quality improved with gross non-performing assets ratio falling to 7.23% at the end of March against 12.81% a year back. Net NPA was 2.48%, improved from 4.77% over the same period. It has however made 44% higher provision at Rs 1,311 crore which includes taking additional cover against the possibility of further economic stress on account of the second wave of pandemic.

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ICICI Bank Q4 net profit rises 260%

Private lender ICICI Bank on Saturday reported 260 per cent jump in standalone net profit at Rs 4,403 crore for the quarter ended March 31, 2021. The profit figure stood at Rs 1,221 crore for the same period last year.

Net interest income (NII) increased by 17 per cent year-on-year to Rs 10,431 crore in Q4FY21 from Rs 8,927 crore in Q4FY20.

The bank’s total capital adequacy at March 31, 2021 was 19.12 per cent and Tier-1 capital adequacy was 18.06 per cent as compared to the minimum regulatory requirements of 11.08 per cent and 9.08 per cent respectively.

"The current second wave of Covid-19 pandemic, where the number of new cases has increased significantly in India, has resulted in re-imposition of localised/regional lockdown measures in various parts of the country. The impact, including credit quality and provision, of the Covid pandemic, on the bank and the Group, is uncertain and will depend on the spread of Covid, the effectiveness of current and future steps taken by the governments and central bank to mitigate the economic impact. The bank's capital and liquidity position is strong and would continue to be a focus area for the bank during this period," said ICICI Bank in a stock exchange filing.

The lender's gross non-performing assets (NPAs) declined sequentially at 4.96% in Q4FY21. In Q3FY21, gross NPA of the bank was 4.38%. Meanwhile, net NPAs of the lender stood at 1.1% in the March quarter as against 0.6% a quarter ago.

The net interest margin was 3.84 per cent in Q4FY21 as compared to 3.67 per cent in the quarter ended December 31, 2020 and 3.87 per cent in Q4FY20.

Total income (standalone) of the bank rose to Rs 23,953 crore in January-March from Rs 23,443.66 crore in the year-ago quarter, ICICI Bank said in a regulatory filing.

On a consolidated basis, the net profit of the private sector lender jumped to Rs 4,886 crore in the March quarter from Rs 1,251 crore in the last quarter of 2019-20.

Income on a consolidated basis rose to Rs 43,621 crore from Rs 40,121 crore for the reported quarter.

Provisions for bad loans and contingencies were cut to Rs 2,883.47 crore for the reported quarter, from Rs 5,967.44 crore parked aside in year ago same quarter.

The lender's Board has recommended a dividend of Rs 2 per share.

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HDFC Bank reported 18.2 per cent up in Y-o-Y profit

HDFC Bank reported an 18.2 per cent on-year jump in standalone net profit to Rs 8,186.51 crore for the January-March quarter of FY21. The company had posted a profit of Rs 6,927.6 crore in the corresponding quarter of the previous year. Amid the second COVID-19 wave, the company informed that its board has considered it prudent to currently not propose a dividend for the financial year ended March 31, 2021. India’s largest private sector lender’s Net Interest Income (NII), the difference between interest earned through lending and interest paid to depositors, witnessed a 12.6 per cent on-year rise to Rs 17,120 crore in the quarter under review, as compared to Rs 15,204 crore in the same period last year.

The Bank’s net revenues (net interest income plus other income) rose to Rs 24,713 crore in the fourth quarter of FY21 from Rs 21,236 crore in the previous year.

HDFC Bank Q4 results:

HDFC Bank maintained a healthy liquidity coverage ratio at 138 per cent, which was well above the regulatory requirements.

Operating expenses in the January-March 2021 quarter, stood at Rs 9,181.3 crore, a jump of 10.9 per cent over Rs 8,277.8 crore during the corresponding quarter of the previous year.

The cost-to-income ratio for the quarter ended March 31, 2021, was at 37.2 per cent as compared to 39 per cent in the year-ago period.

Other income (non-interest revenue) came in at Rs 7,593.9 crore, which was 30.7 per cent of net revenues in the fourth quarter of FY21 and grew by 25.9 per cent over Rs 6,032.6 crore in the quarter ended March 31, 2020.

Total deposits of the HDFC Bank stood at Rs 13 lakh crore, a rise of 16.3 per cent over March 31, 2020. CASA deposits increased by 27 per cent with savings account deposits at Rs 4.03 lakh crore and current account deposits at Rs 2.12 lakh crore.

HDFC Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines stood at 18.8 per cent in the March quarter of 2021 (against 18.5 per cent as on March 31, 2020), as against a regulatory requirement of 11.075 per cent.

Gros non-performing assets were at 1.32 per cent of gross advances as on March 31, 2021, as against 1.38 per cent as on December 31, 2020, and 1.26 as on March 31, 2020.

HDFC Bank’s distribution network was at 5,608 branches and 16,087 ATMs/ cash deposit and withdrawal machines (CDMs) across 2,902 cities or towns.

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Quarterly Financial Results of Public & Private sector banks for Q4FY20

Public Sector Banks :

Bank of Baroda

Bank of India

Bank of Maharashtra

Canara Bank

Central Bank of India

Indian Bank

Indian Overseas Bank

Punjab & Sind Bank

Punjab National Bank

State Bank of India

UCO Bank

Union Bank of India

Private Sector Banks :

Axis Bank

Bandhan Bank

City Union Bank

DCB Bank

Dhanlaxmi Bank

Federal Bank

HDFC Bank

ICICI Bank

IDBI Bank

IDFC First 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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Central Bank of India net loss narrows to ₹1,529 crore in Q4

Public sector lender Central Bank of India's net loss narrowed in the March quarter to ₹1,529 crore owing to a substantial decrease in provisioning and higher net interest income (NII).

The bank had posted a net loss of ₹2,477.41 crore in the same period a year ago. In the December quarter, the bank had made a profit of ₹155.32 crore.

The bank had set aside provisions of ₹2,178.33 crore during the quarter under review, of which provisions for bad loans stood at ₹1,583.25 crore. Its total provisions were down 53.98% from ₹4,733.82 crore parked aside for the year-ago period.

Total income during the quarter under review was at ₹6,723.73 crore as against ₹6,620.51 crore in the year-ago period, Central Bank of India said in a regulatory filing.

The bank's net interest income (NII) was at ₹1,925.81 crore, up 20.18% from ₹1,602.46 crore in Q4 of FY19. Other income fell 30.52% to ₹794.68 crore for the quarter ended 31 March, against ₹1,143.69 crore for the same quarter last year.

Its gross non-performing assets (NPAs) of the bank stood at 18.92% of gross advances as at March-end, down from 19.29% in the year-ago period. The bank's net NPAs were at 7.63%, down from 7.73%.

Central Bank of India's total deposits were up 4.64% to ₹3.14 trillion for the year ended 31 March against ₹3 trillion a year ago. Its advances grew 3.12% to ₹1.51 trillion as on 31 March 2020, over ₹1.47 trillion for the same period last year.

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Indian Overseas Bank(IOB) posts net profit in Q4

State-owned Indian Overseas Bank has booked net profit after 18 straight quarters while reported net non-performing below 6 percent for two consecutive quarters, making itself a contender to get out of Reserve Bank of India's prompt corrective action (PCA) framework, which puts restrictions on lending, branch expansion and dividend distribution.

IOB's net profit was at Rs 144 crore in the quarter to March compared with Rs 199 crore net loss in the year ago period.

"Making profit will not be a one-off thing. This is going to be sustainable," IOB chief executive Karnam Sekar said after the release of the bank's quarterly earnings. He said that provision coverage ratio was at 87 percent at the end of the reporting period March from 71 percent a year back, and therefore future provision requirement would come down.

Sekar is slated to hang up his boots at the end of June while State Bank of India's deputy managing director Partha Pratim Sengupta's is tipped to succeed him.

The bank's operating profit marginally rose to Rs 1144 crore compared with Rs 1132 crore in period under review while steep fall in provisioning to Rs 1060 crore from 4502 crore helped the bank to be back in black.

Its gross advances shrunk to Rs 1.35 lakh crore at the end of March against Rs 1,52 lakh crore a year back, The CEO said that its lending very selectively and not taking fresh exposures in stressed sectors.

"The situation continues lo be uncertain and the bank ls closely monitoring the situation," the bank said in its regulatory filing to stock exchanges.

Its gross NPA ratio improved to 14.78 percent as on March, down from 17.12 percent a quarter back while the net ratio improved further to 5.44 percent from 5.81 percent in the same period.

IOB has restructured 19043 MSME accounts and treated them as standard assets aggregating to Rs 694 crore as on Morch 31. It has also made an adhoc provision of Rs 460 crore towards revision of wages which is due since November 2017.

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Uco bank posts net profit in Q4

Public sector lender UCO Bank on Friday reported net profit of ₹16.78 crore for the fourth quarter which ended on March 31, mainly due to fall in NPA and lower provisioning.

The Kolkata-headquartered lender had posted net loss of ₹1,552.03 crore during January-March quarter of 2018-19.

Sequentially also, there was a net loss of ₹960.17 crore in third quarter of 2019-20.

Income during the March quarter increased to 4,511.21 crore, from ₹4,148.52 crore in same period of preceding fiscal, UCO Bank said in a regulatory filing.

Bank's provisioning for bad loans and contingencies fell to ₹1,199.82 crore during the quarter as against ₹2,242.58 crore in the year-ago period.

For the full FY20, the bank trimmed on its net loss to ₹2,436.83 crore, compared to ₹4,321.08 crore loss in FY19. Income for the year increased to ₹18,005.55 crore as against ₹15,844.14 crore.

On asset front, the lender improved its gross non-performing assets (NPAs) to 16.77 per cent of the gross advances as on March 31, 2020, compared to 25 per cent in March 2019.

In absolute value, bank's gross NPAs stood at ₹19,281.95 crore as against ₹29,888.33 crore.

Net NPAs came down to 5.45 per cent ( ₹5,510.65 crore) from 9.72 per cent ( ₹9,645.92 crore).

UCO Bank said that in terms of the Supreme Court order and necessary guidelines issued by Reserve Bank of India (RBI), it has kept Delhi Airport Metro Express Pvt Ltd "DAMEPL" as standard account.

The bank said it has not treated a loan amount of ₹194.14 crore as NPA against DAMEPL. However, provision of ₹48.54 crore has been made, as required.

On divergence in asset classification and provisioning in terms of Risk Assessment Report (RAR) of the RBI for the year ended March 31, 2019, the bank said there was a gap of ₹1,217.42 crore in gross NPA reported by it, which was assessed by the RBI.

Bank has made full provision against the said divergence, it added. Thus, counting on the divergence, the bank said its net loss for FY19 widened to ₹5,225.53 crore as against ₹4,321.09 crore reported earlier.

The non-performing loan provisioning coverage ratio is 85.46 per cent as on March 31, 2020 as against 74.93 per cent a year earlier.

The bank has reported two loan accounts under Borrowal Fraud category to the RBI in the first quarter of 2020-21, and amount outstanding was ₹581.59 crore as on March 31, 2020, it said.

"The accounts were already under NPA category and provision amounting to ₹282.64 crore is held in the account as at March 31, 2020.

"Bank has made additional provision of ₹74.73 crore (25 per cent of remaining provision) as on March 31, 2020 and the remaining amount of ₹224.22 crore has been charged to Reserves and deferred for adjustment in subsequent quarters," UCO Bank said.

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Bank of India Q4 Result : Posts net loss of 3571 cr

Bank of India slumped 8.93% to Rs 50 after reporting net loss of Rs 3,571.41 crore in Q4 March 2020 compared with net profit of Rs 251.79 crore in Q4 March 2019.

Total income fell 0.63% to Rs 12,215.78 crore in Q4 March 2020 over Q4 March 2019. Pre-tax loss stood at Rs 5489.36 crore in Q4 March 2020 compared with pre-tax profit of Rs 405.75 crore in Q4 March 2019. The Q4 earnings was announced during market hours today, 25 June 2020.

The net profit was impacted by higher provisioning. Provisions and contingencies surged 329.10% to Rs 8,141.92 crore in Q4 March 2020 as against Rs 1,897.43 crore in Q4 March 2019. Provision coverage ratio stood at 83.75% as on 31 March 2020.

Gross non-performing assets (NPAs) stood at Rs 61,549.93 crore as on 31 March 2020 as against Rs 61,730.54 crore as on 31 December 2019 and Rs 60,661.12 crore as on 31 March 2019. The ratio of gross NPAs to gross advances stood at 14.78% as on 31 March 2020 as against 16.30% as on 31 December 2019 and 15.84% as on 31 March 2019. The ratio of net NPAs to net advances stood at 3.88% as on 31 March 2020 as against 5.97% as on 31 December 2019 and 5.61% as on 31 March 2019.

The CASA level increased from Rs 1,81,765 crore in March 2019 to Rs. 1,97,751 crore in March 2020, i.e. with a growth of 8.79%. The CASA ratio stood at 41.50% in March 2020.

The bank said that the COVID-19 crisis has resulted in significant volatility and decline in the global and local economic activities. The situation continues to be uncertain and the bank is evaluating the situation on ongoing basis. The major challenge for the bank would arise from volatility in cash flows. Despite these events and condition, there would not be any significant impact on banks results in future and on the going concern assumption.

Bank of India provides a wide range of banking products and financial services to corporate and retail customers. The Government of India holds 89.1% stake in Bank of India as on 31 March 2020.

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