Indian Bank Q4 result, posts net loss

State-owned Indian Bank reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, as high level of bad loans required substantial amount to be kept as provisioning parking.

The bank had registered a net profit of Rs 131.98 crore during the similar January-March quarter of 2017-18.

Its total income in the March 2019 quarter, however, was up at Rs 5,537.47 crore as against Rs 4,954.21 crore in the corresponding period a year-ago, the bank said in a regulatory filing. For the full year, the bank’s net profit was Rs 320.93 crore on a consolidated basis, as against Rs 1,262.92 crore in 2017-18. Total income was Rs 21,073.50 crore in 2018-19, up from Rs 19,531.91 crore a year ago.

On the bank’s asset quality, the gross non-performing assets (NPAs) or bad loans reduced to 7.11 per cent of the gross advances by the end of March 2019, as against 7.37 per cent at the end of March 2018. Net NPAs came down to 3.75 per cent as against 3.81 per cent.

NPA provisioning up

The overall provisioning and contingencies for the March 2019 quarter were at Rs 1,638.83 crore, higher than Rs 1,546.34 crore a year ago. Of this, the provisioning for bad loans was Rs 1,432.94 crore, as against Rs 1,772.03 crore in the year-ago quarter.

During the year ended March 31, the bank recovered Rs 585.84 crore in one of the accounts by way of the NCLT settlement, it said.

For the provisions of the Insolvency and Bankruptcy Code, the bank is holding a total provision of Rs 83.07 crore as on March 31, 2019, Indian Bank said. Non-performing loan provision coverage ratio is 65.72 per cent as on March 31, 2019.

On the divergence in asset classification and provisioning for NPAs for 2017-18, Indian Bank has showed a gap of Rs 178.50 crore in gross NPAs; Rs 41.40 crore in divergence in net NPAs and the divergence in provisioning stood at Rs 1,120.90 crore.

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United bank of India posts profit in Q4FY19

After making losses for seven consecutive quarters, city-based United Bank of India (UBI) registered a net profit of ₹95.18 crore in the last quarter of 2018-19, a bank statement said on Monday.

The total business of the bank crossed ₹2 lakh crore at the end of March 2019.

Operating profit of the bank was ₹540 crore in the last quarter as against ₹383 crore in the corresponding period last fiscal, the statement said.

Net interest margin (NIM) of the bank stood at 2.43%.

The bank's net interest income increased to ₹1975 crore in the full fiscal as against₹1493 in the previous financial year.

Stressed assets position of the bank improved with GNPA and NNPA at 16.48% and 8.67% respectively as on 31 March, 2019, the statement added.

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Andhra bank loss narrows in Q4FY19

State-owned Andhra Bank May 13 reported narrowing of loss to Rs 1,233.61 crore for the fourth quarter ended March 31, mainly on account of reduction in non-performing assets.

The bank had booked a net loss of Rs 2,535.82 crore in the corresponding quarter of 2017-18.

The total income rose to Rs 5,313.53 crore in the March quarter, compared to Rs 5,092.62 crore in the year-ago period, Andhra Bank said in a regulatory filing.

The bank's gross NPA reduced to 16.21 per cent of total assets as compared to 17.09 per cent in the corresponding quarter of the previous fiscal.

Similarly, the net NPAs also eased to 5.73 per cent from 8.48 per cent in January-March quarter of 2017-18.

As a result provision for bad loans less than halved to Rs 2,341.06 crore during the quarter as compared to Rs 5,562.76 crore in the same period a year ago.

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Oriental Bank of Commerce (OBC) back in black,reports profit in Q4

Oriental Bank of Commerce (OBC) on Monday reported a net profit of Rs 201.50 crore for the fourth quarter ended March 31, 2019. Thé public sector lender had reported a net loss of Rs 1,650 crore in the fourth quarter last fiscal.

For the entire fiscal 2018-19, OBC has reported a net profit of Rs 55 crore, a turnaround of sorts when compared to a net loss of Rs 5,872 crore in the previous fiscal.

The turnaround could largely be attributed to a 109 per cent increase in total recovery and upgradation at Rs 6,597 crore (Rs 3,161 crore) during fiscal 2018-19.

Net NPAs have decreased to 5.93 per cent (Rs 9,440 crore) as against net NPAs of 10.48 per cent at Rs 14,282 crore last year.

Commenting on the bank’s financial performance, Mukesh Kumar Jain, Managing Director & CEO, Oriental Bank of Commerce, attributed the turnaround to three main reasons—containment of slippages; sharp increase in recoveries to the tune of 108 percent on a year on year basis besides over 41 percent growth in retail advances.

Aided by spike in retail advances, the bank’s overall advances grew 15.75 percent in 2019-20. For the current fiscal, OBC is eyeing overall credit growth of 10-12 percent, Jain said.

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IDFC First Bank posts loss in Q4FY19

IDFC First Bank Friday reported a loss of Rs 218.03 crore for the quarter ended March 2019 against a profit of Rs 41.93 crore in the corresponding period of the last fiscal on account of higher provisioning.

On an annual basis, it reported a loss of Rs 1,944.17 crore as against a profit of Rs 859.3 crore during 2017-18, the bank said in a stock exchange filing.

The bank's gross NPAs stood at 2.43 per cent of the gross advances during the January-March quarter of 2018-19, down from 3.31 per cent in the corresponding period of the last fiscal.

The bank made a provision of Rs 698.2 crore in the fourth quarter of 2018-19, up from Rs 242.45 crore in the corresponding year-ago period.

Its total income stood at Rs 3,944.99 in the quarter ended March 2019 as against Rs 2,374.34 crore earlier.

During the year ended March 31, 2019, the bank received income tax orders relating to a matter under appeal resulting in write-back of tax provision for earlier years of Rs 89.01 crore.

During the year ended March 31, 2018, it had received favourable income tax orders relating to a matter under scrutiny by tax department, which has resulted in write-back of tax provision for earlier years of Rs 62.57 crore and it has remeasured the deferred tax assets at applicable tax rates, which resulted in tax credit of Rs 77.43 crore, the bank said.

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Syndicate Bank Q4 result, profit rise

Syndicate Bank on Friday reported a profit of ₹128.02 crore for the March quarter of 2018-19 financial year on a modest rise in core income and slight improvement in bad loan ratio.

The public sector lender posted a loss of₹2,195.12 crore during January-March quarter of 2017-18.

During December quarter of the previous fiscal, the bank logged a profit of ₹107.99 crore.

Total income during the quarter under review was at ₹6,345.22 crore as compared to ₹6,046 crore in the same period a year ago, the lender said in a regulatory filing.

Interest income was at ₹5,610.26 crore during the period, as against ₹5,357.24 crore a year ago.

For entire 2018-19, the bank reported a net loss of ₹2,524.20 crore. In the previous fiscal, the loss stood at ₹3,111.69 crore.

Total income for the fiscal gone by was down at ₹24,012.75 crore from ₹24,691.28 crore in 2017-18.

The bank's gross non-performing assets (NPAs) were 11.37% of the gross advances by end of fiscal 2018-19, as against 11.53% at end-March 2018.

Net NPAs too came down marginally at 6.16 per cent from 6.28%.

Provisions for bad loans were pruned to₹831.22 crore for the March quarter 2018-19 from ₹3,544.68 crore parked aside in the year-ago period.

Syndicate Bank said it has restructured 4,340 MSME accounts and treated them as standard assets amounting to ₹137.87 crore during the quarter, as per RBI directive, and maintained provision at 5.25% amounting to ₹7.24 crore.

The provision coverage ratio as on March 31, 2019 stood at 66.43%.

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Allahabad Bank's net loss widens in Q4

State-run Allahabad Bank on Friday said it has posted a net loss of Rs 3,834.07 crore in the fourth quarter of the financial year 2018-19 (FY 19), widening from a net loss of Rs 3,509.63 crore in the year-ago period.

The lender's operating profit, in the quarter under review, stood at Rs 634.26 crore up from Rs 122.9 crore in the corresponding period of the financial year 2017-18 (FY18).

It said provision for bad loans increased to Rs 5,278.88 crore in the quarter ended March, 31, 2019 from Rs 5126 crore in same quarter of previous fiscal.

The bank's capital adequacy ratio stood at Rs 12.51 per cent at the end of FY19, improving from 10.42 per cent in the December quarter

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Canara Bank Q4 loss narrows on lower provisioning for bad loans

State-owned Canara Bank on Friday said its net loss narrowed multi-fold to Rs 551.53 crore for the fourth quarter of fiscal 2018-19, mainly driven by lower provisioning for bad loans.

The bank had posted a net loss of Rs 4,859.77 crore during the corresponding January-March period of the preceding fiscal. Total income of the bank during the March quarter rose to Rs 14,000.43 crore, compared to Rs 11,555.11 crore in the year-ago period, Canara Bank said in a regulatory filing. For the full 2018-19 fiscal, the bank has posted a net profit of Rs 347.02 crore. There was a net loss of Rs 4,222.24 crore in 2017-18.

Total income during the fiscal was higher at Rs 53,385.30 crore as against Rs 48,194.94 crore a year earlier. The Bengaluru-headquartered lender witnessed improvement in the asset quality with the gross non-performing assets (NPAs) falling to 8.83 per cent of gross advances at March-end 2019 compared to 11.84 per cent a year earlier. Net NPAs or bad loans stood at 5.37 per cent, compared with 7.48 per cent year ago.

In absolute-value, the gross NPAs were Rs 39,224.12 crore at March-end 2019, as against Rs 47,468.47 crore a year earlier. Likewise, the net NPAs stood at Rs 22,955.11 crore in the quarter under review, compared to Rs 28,542.40 crore. There was also a reduction in provisioning requirement to the tune of Rs 5,120.85 crore in March quarter FY2019 as against Rs 8,762.57 crore parked aside in the year-ago period.

The overall provisioning and contingencies stood at Rs 5,523.50 crore, less than Rs 9,075.04 crore a year ago. Canara Bank said, as per the RBI directive, it restructured as many as 41,602 MSME account as on March 31, 2019 with amount involving Rs 753.51 crore as a relief to them under Goods and Services Tax (GST).

During the quarter ended March 31, 2019, six fraud accounts were detected, amounting of Rs 704.06 crore, wherein the bank is required to provide Rs 429.87 crore, in addition to the provision of Rs 274.19 crore already provided up to December 2018, it said. “The total amount provided during the quarter is Rs 107.47 crore, representing 25 per cent of the provision to be made. Further, the remaining unamortised provision amount is debited to other reserves, which will be amortised during first three quarters of next financial year,” it added.

During the March quarter, the bank allotted 2 crores equity shares at Rs 186 each under Employee Share Purchase Scheme, the lender said. Provision coverage ratio as on March 31, 2019 stood at 68.13 per cent, as against 58.06 per cent a year ago.

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