Bank of Baroda posts Rs3,230.14 crore loss in Q4 on higher provisions

Bank of Baroda has reported a net loss of Rs 3230 crore in January-March quarter from Rs 598.3 crore in corresponding quarter last fiscal. 

During the quarter, its net interest income (NII) rose 5 percent at Rs 3330.4 crore against Rs 3171.7 crore year-on-year. However, the lender had a marginal rise in its gross non-performing asset (NPA), but paid a higher provision in Q4. 

Its provision in Q4FY16 increased to Rs 6858 crore compared to Rs 6164.5 crore on sequential basis and Rs 1817.5 crore YoY. According to a CNBC-TV18 poll, net profit was expected to be fall 50.6 percent at Rs 295.4 crore in January-March quarter and NII was seen falling 4.4 percent to Rs 3032.6 crore. 

In the quarter gone by its gross NPA was up 4.1 percent at 9.99 percent versus 9.68 percent while net NPA was down 11 percent at 5.06 percent versus 5.67 percent quarter-on-quarter. In absolute terms, gross NPA at Rs 40521 crore versus Rs 38934 crore while net NPA was at Rs 19406 crore in Q4FY16 verus Rs 21806 crore (QoQ).

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Kotak Mahindra Bank’s Q4 profit rises 32% to Rs696 crore

Kotak Mahindra Bank on Wednesday reported a 32% rise in net profit for the quarter ended 31 March on account of a rise in net interest income and a largely stable asset quality. Net profit rose to Rs.695.78 crore from Rs.527.14 crore a year ago. 

The bank said that results for the quarter and the fiscal year cannot be compared with previous periods because of the merger of ING Vysya Bank on 1 April 2015.

NII, or the difference between interest earned on loans and paid on deposits, for the quarter stood at Rs.1,857.24 crore, an increase of 65% from Rs.1,123.17 crore a year ago. The increase in NII was primarily due to the merger of ING Vysya Bank with Kotak Mahindra Bank, which became effective 1 April 2015.

NII rose 5.15% from Rs.1,766 crore in the preceding quarter.

Total advances as on 31 March rose 79% to Rs.1.19 trillion from Rs.66,161 crore a year ago. It rose by nearly 3% on a quarter-on-quarter basis. Uday Kotak, executive vice-chairman and managing director, said the lender is targeting 20% growth in advances for the current fiscal year and hopes to get the growth in both corporate and retail book.

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OBC posts net profit of Rs 21.62 cr in Q4

Public sector lender Oriental Bank of Commerce (OBC) today reported a profit of Rs 21.62 crore in March quarter as against a net loss of Rs 178.44 crore in the corresponding period of 2014-15, on the account of tax gain. 

Total income declined 4.68 percent to Rs 5,451.6 crore during the quarter from Rs 5,719.39 crore in the same period last year. 

The bank's provisioning for bad loans during the quarter under review stood at Rs 1,026.11 crore during the quarter, up from Rs 1,106.57 crore in the March quarter of the previous fiscal. 

The bank has reported a tax gain of Rs 169 crore for the quarter. However, its gross non-performing assets (NPA) of the bank as a percentage to total advances rose to 9.57 percent at the end of fourth quarter from 5.18 percent a year ago. 

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Indian Bank Q4 net profit tanks 59% to Rs 84 cr

Indian Bank has posted a 59 per cent drop in its net profit to Rs 84.5 crore for the quarter ended March, from Rs 206.1 crore in the corresponding quarter last year.

Total income increased to Rs 4,513.6 crore, from Rs 4,410.5 crore for the quarter ended March 31, 2015.

The bank’s gross non-performing assets (NPAs) rose to Rs 8,827 crore, from Rs 5,670.4 crore. In percentage terms, it rose to nearly 6.6 per cent, from 4.4 per cent a year ago. Net NPA rose to Rs 5,419.4 crore from Rs 3,146.9 crore. In percentage terms, it was increased to 4.20 per cent from 2.50 per cent.

"There are additional provisions. The slippage is Rs 3,368 crore from the previous year figure, which was around Rs 800-900 crore. Obviously there was provision. But the important factor is operating profit, which has increased from the previous year figure," said Mahesh Kumar Jain, managing director and chief executive of Indian Bank.

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DCB Bank Q4 profit up 10%, NII jumps 30%; asset quality improves

Private sector lender DCB Bank 's profit in January-March quarter increased 10.4 percent year-on-year to Rs 69.5 crore, driven by net interest income and other income but higher provisions limited growth. 

                                      

Net interest income, the difference between interest earned and interest expended, grew by 30 percent to Rs 168.69 crore during the quarter compared to Rs 129.68 crore in same quarter last year. 

Other income shot up 32.8 percent on yearly basis to Rs 61.45 crore and operating profit rose 42.6 percent to Rs 97.01 crore in quarter ended March 2016, the bank said. 

Provisions increased sharply by 30 percent quarter-on-quarter and 90.3 percent year-on-year to Rs 27.25 crore in last quarter of financial year 2015-16 but asset quality improved significantly. 

Gross non-performing assets (as a percentage of gross advances) in Q4FY16 declined to 1.51 percent from 1.98 percent in Q3FY16 and 1.76 percent in Q4FY15. Net NPA also slipped to 0.75 percent from 1.12 percent and 1.01 percent in same period. 

DCB Bank said it has sold certain non-performing loans to an asset reconstruction company during the current quarter and financial year.

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Andhra Bank Q4 net profit declines by 72% to Rs 51.60 crore

Andhra Bank reported about 72.1 per cent fall in its net profit at Rs 51.6 crore for the quarter ended March, due to higher provisioning and slippages. The net profit for the corresponding quarter last year was Rs 185.2 crore.

The bank’s total income grew 9.04 per cent at about Rs 5,124 crore, against nearly Rs 4,700 crore a year ago.

However, there was about 17 per cent increase in operating profit (before provisions and contingencies) during the quarter, as operating expenses remained flat on top of the income growth.

The gross non-performing assets (NPAs) rose to 8.4 per cent of the total advances, from 5.3 per cent a year ago. Similarly, net NPAs rose to 4.6 per cent, from 2.9 per cent in the corresponding quarter last year.

The management provided for Rs 1,022.6 crore in provisions and contingencies, a rise of 37.2 per cent over Rs Rs 818 crore in the corresponding quarter of the previous year.

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Federal Bank net profit tanks 96 pct to Rs 10 cr in Q4

Private sector lender Federal Bank today reported a 96 percent decline in net profit to Rs 10.26 crore for the fourth quarter ended March 31, due to higher provisioning. 

The company had posted a net profit of Rs 280.53 crore in the year ago period. Total income during January-March rose to Rs 2,253.38 crore from Rs 2,214.28 crore in the year ago period, the company said in a regulatory filing. 

As per the company's balance sheet its provisions rose to Rs 388.64 crore in January-march from Rs 39.78 crore in the same period of the 2014-15 fiscal. 

For the full fiscal, profit sharply declined to Rs 486.42 crore from Rs 1057.81 crore in 2014-15 fiscal. 

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State Bank of Hyderabad Q4 Net Drops 43% To Rs 253 Crore

State Bank of Hyderabad (SBH) on Sunday said its net profit for the quarter ended March 31 dropped by 43.2 per cent to Rs 253 crore due to higher provisioning for non-performing assets (NPAs).

The public sector lender had registered a net profit of Rs 445.5 crore for the corresponding period a year ago.

Managing director Santanu Mukherjee said that SBH allocated Rs 664.34 crore towards contingencies and provisioning during the January-March quarter as against Rs 431.17 crore in the year-ago period.

"Adequate provisions suggested by RBI (Reserve Bank of India) in respect to stressed accounts identified under early recognition process have been made by the bank. In addition to these, additional provision is also made to take care of future requirements of other assets under stress," Mr Mukherjee said at a press conference.

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ICICI Q4 profit tanks 76% on exceptional provision, NPA worsens

ICICI Bank 's fourth quarter earnings shocked the street on Friday with profit falling sharply by 76 percent to Rs 702 crore, impacted by exceptional provisioning of Rs 3,600 crore. 

Strong other income, operating profit and tax refund helped the company make profit during the quarter. 

Net interest income, the difference between interest earned and interest expended, grew by 6.4 percent to Rs 5,404.51 crore on yearly basis, supported by loan growth of 12 percent. The bank has continued to see robust growth in its retail business resulting in a year-on-year growth of 23 percent in the retail portfolio that constituted about 47 percent of loan portfolio while deposits growth was 16.5 percent in Q4. 

"We are targetting domestic loan growth of 18 percent in FY17," Chanda Kochhar, CEO and MD said while addressing press conference. The country's largest private sector lender missed analysts' expectations on all counts. According to analysts polled by CNBC-TV18, profit was estimated at Rs 3,115.1 crore (6.6 percent growth YoY) and net interest income at Rs 5,565.2 crore crore (9.6 percent growth YoY) for the quarter. 

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Lakshmi Vilas Bank Q4 net up 22.5% at Rs 49 cr

South-based private sector lender Lakshmi Vilas Bank   (LVB) today reported a 22.5 percent rise in net profit at Rs 49.07 crore for the March quarter. 

The bank had posted a net profit of Rs 40.07 crore in the corresponding January-March period of 2014-15. 

Total income grew by 14.29 percent to Rs 758.84 crore in the fourth quarter last fiscal, as against Rs 663.97 crore in the same quarter of 2014-15 fiscal, the bank said in a regulatory filing. During the quarter, interest income of the bank increased by 16.71 percent to Rs 666.33 crore compared with Rs 570.94 crore a year ago, it said. 

On the stressed asset issue, the bank said it continues its efforts towards improving the quality. "Gross NPA (non-performing assets) as a percentage of gross advances reduced by 78 basis points (0.78 percent) to 1.97 percent as on March 31, 2016," it said.

 "Net NPAs as a percentage to net advances stood at 1.18 percent as against 1.85 percent in 2014-15," it added. 

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SBBJ profit tanks 31% in Q4 on higher bad loan provisions

State-run State Bank of Bikaner and Jaipu r (SBBJ) today reported a 31.05 percent plunge in net profit to Rs 193.22 crore for the quarter ended March 31, due to increased provisions for bad loans. 

The bank had posted a profit of Rs 280.25 crore in the same period last year. "In the fourth quarter, we doubled the provisions for loans compared with the corresponding quarter last year," the bank's managing director Jyoti Ghosh told reporters here. 

 The loan-loss provision stood at Rs 296 crore during the period compared with Rs 141 crore a year ago. The associate of the State Bank of India has an exposure of Rs 400 crore to the Punjab government food credit and as per the RBI instructions it has made a provision of 7.5 percent or Rs 31 crore during the quarter. 

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IDFC Bank Q4 net falls 32% QoQ to Rs 165 cr, NPA surges

IDFC Bank reported weaker-than-estimated January-March quarter performance on Wednesday with net profit declining close to 32 percent quarter-on-quarter (QoQ) to Rs 165 crore from Rs 242 crore.  

IDFC Bank is a subsidiary of infrastructure finance company IDFC   Ltd, which started banking operations in October 2015. 

Data for year-on-year (YoY) comparison is, therefore, unavailable. Gross non-performing assets (GNPA) jumped over 300 basis points QoQ to 6.16 percent in the fourth quarter from 3.09 percent. 

Net NPA increased to 2.39 percent from 0.98 percent in the third quarter. The increase in NPA was largely on account of high exposure to infrastructure and telecom sectors with part of the old IDFC loans that came to the bank.   

Sunil Kakar, chief financial officer of the bank, however, clarified in a briefing that the surge in NPA does not impact the Profit and Loss account as these loans had already been provided for.  "We have ring-fenced our assets via provisions. 

Increase in the NPA number does not signal deterioration in the asset quality," he said, adding, overall size and volume of stressed assets has not grown. 

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Yes Bank Q4 Net Profit Grows 27% To Rs 702 Crore

Private lender Yes Bank on Wednesday reported a 27.4 per cent rise in its stand-alone net profit at Rs 702.1 crore for the fourth quarter ended March.

Net profit stood at Rs 551 crore in the corresponding quarter of 2014-15. Its total income has increased to Rs 4,331.1 crore for the quarter ended March, up 17.7 per cent, from Rs 3,678.8 crore for the March quarter of 2015, it said in a BSE filing.

The bank's net interest income (NII) in January-March went up by 27.1 per cent to Rs 1,241.4 crore while non-interest income grew 36 per cent to Rs 802.8 crore.

Yes bank's total provisioning against bad loans in the said quarter climbed 47.6 per cent to Rs 186.5 crore compared with Rs 126.4 crore in the same quarter of 2014-15.

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State Bank of Travancore Q4 profit falls 67.63%

State Bank of Travancore on Tuesday said its net profit for the March quarter fell 67.63% due to higher provisions.

Net profit for the quarter stood at Rs.62.14 crore as compared to Rs.191.97 crore a year ago.

Net interest income (NII) or the core income a bank earns by giving loans increased 8.6% to Rs.631.31 crore from Rs.581.40 crore last year. Other income increased to Rs.414.61 crore from Rs.371.59 crore in the same period last year, a rise of 11.58%.

Gross non-performing assets (NPAs) rose 35.76% to Rs.3,199.96 crore at the end of the March quarter from Rs.2,357.05 crore a year ago.

Provisions and contingencies jumped 217.34% to Rs.449.69 crore in the quarter from Rs.141.71 crore a year ago. The bank said its provision for NPAs jumped 464.3% from a year ago to Rs.520.32 crore.

In December, the Reserve Bank of India (RBI) conducted an asset quality review across the banking sector, following which banks were asked to recognise visible stressed assets as N

PAs.

RBI also asked banks to make adequate provisions for these stressed assets over the third and fourth quarters of the current fiscal year. This could hit the profitability of some banks.

As a percentage of total loans, the bank’s gross NPAs stood at 4.78% at the end of the March quarter as compared to 3.87% in the previous quarter and 3.37% in the year-ago quarter.

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Axis Q4 net falls 1.2% YoY to Rs 2154cr; NII up 19.8% to 4552cr

Axis Bank, India's third-largest private sector lender, today said its fourth quarter net profit fell 1.2 percent, ahead of a CNBC-TV18 poll that had forecast profits to fall 7 percent to Rs 2,028 crore. 

Net interest income rose 19.8 percent to Rs 4552.6 crore, compared to poll estimates of Rs 4,296 crore. 

The company's asset quality held steady, with the gross non performing asset (GNPA) and net NPAs coming at 1.67 percent (versus 1.68 percent) and 0.7 percent (vs 0.75 percent). 

Provisions jumped 64 percent year-on-year, to Rs 1,168.3 crore, likely because of the Reserve Bank of India's asset quality review (AQR) initiative. 

The bank's net interest margins went up from 3.79 percent in Q3 to 3.97 percent in Q4. Axis posted deposit growth of 11 percent quarter-on-quarter to Rs 3.58 lakh crore, while advances grew 20.5 percent to Rs 3.38 lakh crore. 

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State Bank of Mysore Q4 profit down 23% at Rs 105 cr

SBI associate State Bank of Mysore today reported a fall of 22.9 per cent in net profit at Rs 104.86 crore for the fourth quarter ended March 31, due to higher provisioning for employee cost and rising bad loans. 

SBM's net profit in the corresponding quarter of 2014-15 stood at Rs 135.97 crore. Total income of the bank was Rs 2,076.02 crore during the final quarter of 2015-16, slightly up from Rs 2,051.23 crore in the same period of the corresponding previous fiscal, SBM said in a regulatory filing. 

Provisions and contingencies worth Rs 263.42 crore were parked aside during the quarter as against Rs 184.49 crore in the year ago period. 

Bank's asset quality slipped further during the quarter with gross non-performing assets (NPAs) rising to 6.56 per cent of gross advances as on March 31, as against 4 per cent a year ago. Likewise, net NPAs or bad loans were 4.18 per cent of the net advances, up from 2.16 per cent in the year ago period.

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HDFC Bank posts 20% rise in Q4 net profit

The country's second-largest private lender had registered a net profit of Rs 2,807 crore in same quarter of 2014-15. Total income during the quarter rose to Rs 18,862.61 crore, from Rs 15,570.1 crore a year earlier. 

India’s second-largest private lender, HDFC Bank, on Friday, reported a 20 per cent rise in its net profit at Rs 3,374 crore for the fourth quarter ended March. The bank had registered a net profit of Rs 2,807 crore in same quarter of a year ago.

The bank’s board has recommended a dividend of Rs 9.50 per share, the lender said in a statement to the stock exchanges.

Net interest income (interest earned less interest expended) for the quarter grew 24 per cent to Rs 7,453.3 crore as the bank expanded its loan book.

Bank’s advances stood at Rs 4,64,594 crore at the end of March, up 27.1 per cent. While retail loans grew by 29.7 per cent, wholesale loans grew by 27.2 per cent.

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IndusInd Bank Q4 net rises 25% to Rs 620 crore

Private sector IndusInd Bank today posted a rise of 25.25 per cent in net profit at Rs 620.35 crore for the last quarter of 2015-16 fiscal. 

Bank's net profit in the corresponding January-March quarter of the previous fiscal stood at Rs 495.27 crore. 

Total income of the bank increased to Rs 4,044.49 crore in the concluding quarter of the last fiscal from Rs 3,278.06 crore in the same period a year ago, IndusInd Bank said in a regulatory filing.

For the entire 2015-16 fiscal, the bank's net profit rose 27.5 per cent to Rs 2,286.45 crore as against Rs 1,793.72 crore a year ago.

Total income for the fiscal 2015-16 was at Rs 14,877.61 crore, up from Rs 12,239.97 crore in 2014-15. 

On the asset quality front, the bank's gross Non-Performing Assets (NPAs) were 0.87 per cent of gross advances as of March 31, 2016, a tad higher than 0.81 per cent in the same period a year ago. 

Net NPAs or bad loans were 0.36 per cent of net advances .. 

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