Public Sector Banks :(Data will update as result will declare)
Private Sector Banks :(Data will update as result will declare)
Results of Public & Private sector banks for Q4FY19
IDBI Bank narrows Q4 net loss on lower bad loan provisions
IDBI Bank, majority owned by Life Insurance Corporation of India (LIC), Thursday narrowed net loss to ₹4,918 crore in the quarter ended March due to lower provision for bad loans.
The bank had reported a net loss of ₹5,663 crore in the same period last year.
"Our losses have come down in the quarter as provisions for non-performing loans (NPAs) reduced," its managing director and chief executive Rakesh Sharma told reporters.
Provisions for non-performing loans declined to ₹7,233 crore in the quarter from ₹10,773 crore in the same period last year.
For the full year, lender reported a net loss of₹15,116 crore as against a net loss of ₹8,238 crore in FY18.
In January 2019, LIC completed acquisition of 51% controlling stake in the bank. The state-run life insurer infused ₹21,624 crore into the bank.
Net interest margin improved to 2.26% from 1.19%.
Gross non-performing assets ratio improved to 27.47% as against 27.95%, while net NPA was at 10.11 per cent as against 16.69%.
The bank, which under the Reserve Bank of India's (RBI) prompt corrective action (PCA), expects to bring down its net NPA ratio to below 9 per cent by June-end and below 6 per cent by September quarter.
Our target is to come out of PCA and become profitable. We expect by September or maximum by December quarter we will be out of PCA," Sharma said.
Total provision stood at ₹6,314 crore as against ₹8,026 crore.
Provision Coverage Ratio improved to 82.88 per cent as on March 31, 2019 from 63.40 per cent as on March 31, 2018.
Fresh slippages reduced to ₹1,781 crore from₹18,023 crore in the year-ago period.
Recovery in the quarter stood at ₹927 crore.
The bank has set a recovery target of ₹13,000 crore, including ₹2,000 crore from sale to asset reconstruction companies in the current financial year.
Sharma said the bank is looking to raise₹1,500 crore through sale of non core assets- IDBI Federal Life Insurance and IDBI Mutual Fund.
The bank is also looking at raise ₹2,500-3,000 crore through Tier 1 bonds and ₹6,500 crore from markets.
Its CASA increased to ₹96,730 crore as on March 31, 2019 as against ₹92,102 crore as on March 31, 2018.
Lakshmi Vilas Bank Q4 loss narrow
Private sector lender Lakshmi Vilas Bank’s (LVB) standalone net loss for the fourth quarter ended March 2019 has narrowed down to ₹264.43 crore from the ₹622.25 crore reported for the year-earlier period.
“This quarter, the losses could have been even lower, if we had not made additional contingent provision of ₹150 crore towards loans to SMEs,” said P. Mukherjee, MD and CEO, LVB.
This was made to take care of [any] eventuality, even though, it was not required,” he said.
LVB recovered ₹213 crore, which was higher than slippages of ₹7 crore, he said, adding this trend would continue throughout FY20 and that the bank might bring down its gross non-performing assets by at least ₹1,000 crore and net NPAs by ₹400 crore
This quarter, we recovered dues from 600 accounts, of which the largest debt was ₹20 crore. Last quarter, fresh slippages related to corporate sector. But this quarter, the stress was from MSME and allied sectors. The bank, however, will continue to diversify its business into retail and MSME segments,” he said. Net interest income rose to ₹140.19 crore from ₹120.47 crore. Net interest margin rose to 1.73% from 1.34% last year.Operating expenses contracted to ₹218.86 crore (₹228 crore), and provisions to ₹478.77 crore from ₹921.41 crore.GNPAs rose to 15.3% from 9.98%, and in value terms, it accounted for ₹3,358.99 crore.
Net NPAs increased to 7.49% from 5.66%, representing ₹1,506.29 crore.
The provision coverage ratio stood at 62.8% by end of March 2019.
LVB’s total business declined to ₹51,235 crore from ₹60,314 crore year-on-year. “This is because, we reduced our bulk deposits substantially and depended on retail deposits. Capital shortage was the biggest challenge we faced this year. Until, we get fresh capital infusion, we have to grow our books. The merger process (with Indiabulls Housing) is on and we might raise some capital for the time being,” he said.
Punjab National Bank (PNB) posted big loss in Q4
Punjab National Bank (PNB) today reported a loss of ₹4,750 crore for the March quarter, bettering its performance from a year ago when it reported a loss of 13,417 crore. Fall in provisions, indicating better recovery, ample provisions and improving assets helped narrow the loss.
PNB’s provisions declined to ₹7,611 crore in Jan-Mar, from ₹12,970 crore.
PNB’s gross non-performing assets (NPA) fell to 15.5% from 18.38% while net NPAs declined to 6.56% from 11.24%.
The lender’s net interest income grew 37.1% from a year ago to ₹4,200 crore in the March quarter. Net interest margin, a key measure of profitability, rose to 2.45% from 1.90% in the March quarter of 2018.
The bank had incurred a net loss during the financial year 2017-18, after it discovered over ₹14,000 crore fraud, involving jewelers Mehul Choksi and Nirav Modi at its Mumbai Brady road branch in January, last year. Thereafter, PNB posted losses in three consecutive quarters beginning January-March (2017-18).
It turned profitable only in during the previous quarter (October-December).
Punjab & Sind Bank loss narrows in Q4FY19
State-owned Punjab & Sind Bank Friday said it has narrowed its net loss to Rs 58.57 crore in the March 2019 quarter, aided by lower provisioning.
The bank had posted a loss of Rs 524.62 crore in the corresponding quarter of the previous financial year.
However, there was a net profit of Rs 22.34 crore in the preceding quarter ended December 2018.
Its total income in the quarter rose to Rs 2,304.37 crore, from Rs 2,337.13 crore in the year-ago period.
The asset quality of the bank witnessed worsening, as the gross non-performing assets (NPAs) rose to 11.83 per cent of gross advances at the end of March 2019 as against 11.19 per cent a year ago.
The net NPAs stood at 7.22 per cent, higher than 6.93 per cent at the end of March 2018.
In absolute terms, the gross NPAs were Rs 8,605.87 crore by the end of 2018-19, while it was at Rs 7,801.65 crore a year ago. Net NPAs were at Rs 4,994.23 crore as against Rs 4,607.87 crore.
Provisions for bad loans stood at Rs 312.09 crore for the March 2019 quarter, compared with Rs 768.36 crore in the year-ago period.
The bank said it was able to arrest yearly loss to Rs 543 crore against Rs 744 crore in 2017-18 due to improved operating profit and over 42 per cent growth in non-interest income.
Return on assets has also improved to (-) 0.47 per cent in 2018-19, compared with (-) 0.69 per cent of previous year, it said in a release.
Provision coverage ratio has improved to 59.46 per cent at the end of March from 54.41 per cent a year ago, it added.
Bank of Baroda(BoB) reports Q4 net loss on higher bad loan provisions
State-owned Bank of Baroda (BoB) on Wednesday reported a net loss of Rs 991 crore for the fourth quarter ended March 2019 on higher bad loan provisions.
In the corresponding quarter last year, the company posted a net profit of Rs 3,102 crore. CNBC-TV18 Polls had predicted a profit of Rs 899.3 crore for the quarter under review.
For the whole year, standalone and consolidated profit stood at Rs 433 crore and Rs 1,100 crore respectively.
Domestic CASA deposits registered a growth of 8.36 percent Y-o-Y. CASA deposits to total domestic deposits at 40.23 percent versus 41.18 percent as on March 31, 2018. Domestic deposits stood at Rs 5,17,966 crore as on March 31,2019 up by 11.91 percent from Rs 4,66,974 crore as on March 31, 2018. Domestic advances grew by 14.17 percent to Rs 3,70,185 crore as on March 31, 2019 from Rs 3,24,239 crore as on March 31,2018. The increase was led by retail loans which grew by 24.18 percent.
The operating profit stood at Rs 3,861 crore as against Rs 3,539 crore in the previous quarter. For FY19, operating profit increased by 12.34 percent due to 22.70 percent increase in net interest income at Rs 18,480 crore.
Capital adequacy ratio of the bank stood at 13.42 percent and CET -1 at 10.38 percent versus 11.67 percent and 8.65 percent in December 31,2018. Consolidated CET-1 and Capital Adequacy Ratios improved in March 2019 at 11.60 percent (9.74 percent in December 2018) and 14.2 percent (12.62 percent in December 2018) respectively.
Domestic Y-o-Y credit growth remained in double-digits for eight quarters. Terminal and average growth of 14.17 percent and 18.75 percent respectively. Retail loans increased by 24.18 percent led by home and auto loans at 22.15 percent and 49.43 percent respectively, BoB said in a BSE filing.
The net interest income (Nil) of the bank increased to Rs 4,863 crore. Adjusting for IT refund of Rs 204 crore in March 2019, Nil increased by 25.73 percent on a Y-o-Y basis. Domestic core fee income increased by 10.41 percent Y-o-Y to Rs 995 crore.
Consolidated and standalone operating profit stood at Rs 15,519 crore and Rs 13,487 crore respectively for FY19 an increase of 12.34 percent and 14.43 percent respectively. Treasury trading gains were lower at Rs 989 crore from Rs 1,878 crore in FY18. Standalone operating profit for Q419 stood at Rs 3,861 crore registering an increase of 44.88 percent.
Net interest margin (NIM) improved to 2.90 percent in Q4FY19 from 2.69 percent last quarter. For the year, NIM increased to 2.72 percent from 2.43 percent in the previous year. Domestic NIM increased to 2.98 percent in Q4 FY19 from 2.80 percent last quarter.
Gross NPA reduced to 9.61 percent as on March 31, 2019 against 11.01 percent last quarter. Net NPA fell to 3.33 percent from 4.26 percent last quarter. Absolute amount of net NPA also declined by Rs 3,521 crore to Rs 15,609 crore, lowest in eight quarters.
City Union Bank Q4 net profit up 15%
Private sector City Union Bank has recorded net profit at Rs 175.12 crore for the fourth quarter ending March 2019, a 15.1 per cent increase compared to the year ago period at Rs 152.12 crore.
The Tamil Nadu-based bank had clocked a 15.3 per cent increase in its net profit for the year ending March 2019 to Rs 682.85 crore from Rs 592 crore. Total income of the bank for the March 2019 quarter grew to Rs 1,131.44 crore from Rs 990.48 crore.
For the year ending March 31, total income went upto Rs 4,281.55 crore, from Rs 3,934.52 crore.
The Board of Directors has recommended a dividend of 50 per cent (50 paise) for face value of Re 1 per equity share subject to approval of shareholders.
Deposits up
Commenting on the financial performance, the bank’s MD and CEO, N Kamakodi said deposits increased by 17 per cent to Rs 38,448 crore for the year ending March 31 from Rs 32,853 crore registered year ago. Advances grew by 17 per cent to Rs 33,065 crore from Rs 28,238 crore.
Total busines of the bank increased to Rs 71,513 crore up by 17 per cent from 61,091 crore registered last year. Gross NPA of the bank stood at Rs 977 crore (2.95 per cent) for the year ending March 31, 2019. Net NPA stood at Rs 591 crore at 1.81 per cent to Net Advances.
Corporation bank Q4 loss widens due to higher provisions
The bank had reported loss of Rs 1,838.39 crore during January-March quarter of 2017-18.
The total income of Corporation Bank during the fourth quarter of 2018-19 stood at Rs 4,187.65 crore down from Rs 4,642.45 crore in the same period of the previous fiscal, the lender said in a regulatory filing.
The bank, however has reported reduction in non-performing assets (NPAs).
The gross NPA as a percentage of total advances was 15.35 per cent compared to 17.35 per cent during fourth quarter of 2017-18.
The bank has made a provision of Rs 8,505.87 crore for NPAs almost double from Rs 4,441.29 crore in the year-ago quarter.
Corporation Bank's net loss stood at Rs 6,325.29 crore during the year 2018-19, as against Rs 4,049.93 crore in the preceding fiscal.
Bank of India(BOI) back in the black in Q4FY19
Robust growth in net interest income and a sharp decline in loan-loss provisions helped Bank of India (BoI) report a turnaround performance, posting a net profit of ₹252 crore in the fourth quarter, against a net loss of ₹3,969 crore in the year-ago quarter.
In the reporting quarter, the public sector bank reported a 58 per cent year-on-year (y-o-y) jump in net interest income at ₹4,044 crore.
Total non-interest income (including commission, exchange and brokerage, profit from sale of investments, profit from exchange transactions, recovery in written-off accounts, and other non-interest income) was up 17 per cent y-o-y at ₹1,603 crore.
Provisioning
Loan-loss provisions declined sharply to ₹1,503 crore (₹6,699 crore in the year-ago quarter).
Gross non-performing assets fell to 15.84 per cent of gross advances, against 16.31 per cent in the preceding quarter. Net non-performing assets declined to 5.61 per cent of net advances, against 5.87 per cent in the preceding quarter.
“Bank of India has come back to the growth-and-profit path, and this has been possible by progress and improvement every quarter. We are in a better position vis-a-vis asset quality, current account, savings account (CASA), profit, net interest income, and capital. So, we are in a better position to grow and give better returns to the stakeholders,” said Dinabandhu Mohapatra, MD and CEO.
Mohapatra underscored that many big accounts are at the end of the resolution process at the National Company Law Tribunal (NCLT), and that the bank has provided around 100 per cent provision in all the NCLT accounts (list 1 and 2).
“And when these accounts will be resolved, we are expecting good write-back to our profit….Going forward, we will be showing good improvement in recovery. So, as a result, we will be in a position to grow; maybe, if macro-economic conditions improve, we can target to grow (loans) around 15 per cent in future,” he added.
Impaired assets
To clean-up its balance sheet further, BoI will be putting ₹30,000 crore worth of impaired assets, including those referred to the NCLT, on sale in FY20 to asset reconstruction companies.
In FY2019, it had put assets aggregating ₹17,000 crore on the block and recovered ₹1,700 crore.
In the reporting quarter, the public sector bank reported a 58 per cent year-on-year (y-o-y) jump in net interest income at ₹4,044 crore.
Total non-interest income (including commission, exchange and brokerage, profit from sale of investments, profit from exchange transactions, recovery in written-off accounts, and other non-interest income) was up 17 per cent y-o-y at ₹1,603 crore.
Provisioning
Loan-loss provisions declined sharply to ₹1,503 crore (₹6,699 crore in the year-ago quarter).
Gross non-performing assets fell to 15.84 per cent of gross advances, against 16.31 per cent in the preceding quarter. Net non-performing assets declined to 5.61 per cent of net advances, against 5.87 per cent in the preceding quarter.
“Bank of India has come back to the growth-and-profit path, and this has been possible by progress and improvement every quarter. We are in a better position vis-a-vis asset quality, current account, savings account (CASA), profit, net interest income, and capital. So, we are in a better position to grow and give better returns to the stakeholders,” said Dinabandhu Mohapatra, MD and CEO.
Mohapatra underscored that many big accounts are at the end of the resolution process at the National Company Law Tribunal (NCLT), and that the bank has provided around 100 per cent provision in all the NCLT accounts (list 1 and 2).
“And when these accounts will be resolved, we are expecting good write-back to our profit….Going forward, we will be showing good improvement in recovery. So, as a result, we will be in a position to grow; maybe, if macro-economic conditions improve, we can target to grow (loans) around 15 per cent in future,” he added.
Impaired assets
To clean-up its balance sheet further, BoI will be putting ₹30,000 crore worth of impaired assets, including those referred to the NCLT, on sale in FY20 to asset reconstruction companies.
In FY2019, it had put assets aggregating ₹17,000 crore on the block and recovered ₹1,700 crore.
Jammu & Kashmir(J & K) Bank Q4 net profit jumps over 7-fold
J&K Bank, reported a 129% growth in net profit for the Financial Year 2018-19 at Rs 465 crore as compared to Rs 202 crore in the previous fiscal.
In the March 2019 quarter, the bank has reported a profit of Rs 214.80 Cr as compared to Rs 28.41 Cr in the corresponding quarter of FY 2018. Buoyed by strong retail credit growth, sale of partial stake in PNB MetLife, and resolution of some large NPLs, the total income of the bank rose to Rs 8,487 crore in the FY 2018-19 as compared to Rs 7,116 Cr a year ago.
The results for the FY 2018-19 and Q4 FY 18-19 were announced by the bank on Wednesday after its Board of Directors adopted the audited numbers of the bank in its meeting held at Corporate Headquarters Srinagar.
The growth in J&K state credit has been reported at 23% over the last year and net interest income – the difference between interest earned on loans and that paid on deposits – grew by 42% in the 4th quarter of 2018-19.
The NIIM of the bank, an indicator of profitability, was calculated at 4.05 for the 4th quarter and on full-year basis it improved to 3.84% as compared to 3.65% in the previous fiscal.
The Chairman & CEO of J&K Bank attributed the turnaround and stellar growth to the unflinching trust of the promoters and customers of the bank, especially from J&K state. He commended the management team, business heads and operative staff for robust credit growth, management of NPAs, NPA recovery, improvement in compliance culture, etc, despite a challenging environment.
“Our numbers are unfolding in line with our strategic business plan to direct the focus of our credit expansion in J&K state especially in retail & SME segments. We are continuously gaining market share in J&K besides improving the penetration of credit to hitherto credit starved geographies/segments especially in consumer and housing sectors. If you see our segmental numbers in retail, housing has grown by 79% from 3117 Cr to 5384 Cr, Consumer finance has grown exponentially from 195 Cr to 1978 Cr, Car loans have grown by 37% from 2000 Cr to 2741 Cr, resulting in aggregate retail credit growth of 33%. The corporate to retail mix of our overall advances is now 43% corporate to 57% retail, as compared 53% corporate and 47& retail a couple of years ago,” announced the chairman.
“The results also validate our medium-term growth strategy to achieve a total business of about 2.50 Lac Cr with a targeted profit of Rs 2000 Cr, NIIM ranging between 3.5-4%, ROA of 1.3%, ROE of 16%, and credit cost below 1% at the end of FY 2022. I can say confidently that once our provisioning requirements due to ageing of NPAs are over, may be in 3-4 quarters, the best in terms of bottom line is yet to come,” added Parvez Ahmed.
The bank, he said, will be targeting to extend its outreach to the vast majority of rural population of the state, which is dependent on informal channels for their financial needs. This, he said, will further strengthen the bank’s low cost CASA franchise, which at 50.7% is one of the best in the banking industry.
The bank’s total business as on the close of 31st March 2019 touched Rs 1,61,864 crore, comprising deposits of Rs 89,638 crore and gross advances of Rs 72,226 crore, as compared to total business of Rs 1,42,466 crore an year ago, an increase of around 14%.
As a percentage of total loans, the Gross and Net NPA ratios of the bank improved to 8.97% and 4.89% as compared to 9.96% and 4.90% a year ago. Notably, the bank recovered NPAs of Rs 2,750 Cr during the year, besides making provisions of over Rs 1,000 crore for bad & doubtful debts.
Central bank of India Q4 result, net loss widens
Public sector lender Central Bank of IndiaWednesday reported widening in its losses to Rs 2,477.41 crore in the last quarter of 2018-19 due to a spike in provisioning of bad loans.
The bank had reported a loss of Rs 2,113.51 crore in the January-March period of 2017-18. The bank had reported a loss of Rs 718.23 crore for the third quarter ended December 2018.
Total income grew to Rs 6,620.51 crore in the three months to March from Rs 6,301.50 crore in the year-ago period, Central Bank said in a regulatory filing.
For the full fiscal, the bank's loss widened to Rs 5,641.48 crore, as against Rs 5,104.91 crore in the preceding fiscal. Income during the year also fell to Rs 25,051.51 crore from Rs 26,657.86 crore year earlier.
Gross non-performing assets stood at 19.29 per cent of gross advances at end-March 2019, against 21.48 per cent in the year-ago period. Net NPAs or bad loans stood at 7.73 per cent from 11.10 per cent a year ago.
A substantial amount of Rs 4,523.57 crore was set aside as provisions for bad loans during the March quarter of 2018-19. The provisioning was Rs 4,832.47 crore in the year-ago period.
Central Bank of India said it raised up to Rs 212.54 crore by allotting shares to staff under the Employees Stock Purchase Scheme, pending allotment of shares.
"The Compensation Committee of the board of directors of the bank at its meeting held today approved the proposal for allotment of 78,716,224 equity shares to 26,071 eligible employees under Employee Stock Purchase Scheme," it said.
Disclosing divergence in asset classification and provisioning for NPAs during 2017-18, the bank said there was a gap of Rs 636.20 crore in gross NPAs; Rs 452.80 crore in net NPAs and Rs 1,142 crore with respect to divergence in provisioning.
