Public Sector Banks :
Private Sector Banks :
Quarterly Financial Results of Public & Private sector banks for Q4FY20
Private Sector Banks :
Private Sector Banks :
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.
Indian Overseas Bank(IOB) posts net profit in Q4
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.
Uco bank posts net profit in Q4
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.
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.
Indian Bank Q4 results: Posts net loss of Rs 218 crore
Public sector lender Indian Bank has slipped into the red in the fourth quarter with Rs 218 crore net loss on account of higher provisions. It had made profits in the previous three quarters while suffered Rs 190 crore loss in the year ago period.
Its operating profit rose 37 per cent at Rs 1,703 crore compared with Rs 1,245 crore in the year ago period. Total income rose 14 per cent at Rs 6,334 crore over Rs 5,538 crore with net interest income growing at the same rate at Rs 2,003 crore.
The year-on-year loss widened due to 34 per cent higher provisions and contingencies which was seen at Rs 1,921 crore, the bank said.
The bank has shown improvement in asset quality with gross non-performing assets ratio falling to 6.9 per cent at the end of March from 7.11 per cent, while the net ratio was at 3.1 per cent from 3.75 per cent.
Its total business grew 8 per cent to Rs.4.66 lakh crore, contributed by 19 per cent credit growth to Rs.2.06 lakh crore and 7 per cent deposits growth to Rs 2.60 lakh crore. Growth in advances was led by the retail sector which grew 16 per cent and well supported by agriculture and the MSME sector with a growth of
14 per cent and 13 per cent respectively.
Allahabad Bank was merged with Indian Bank effective from April.
"The amalgamated entity would leverage on the combined strengths of both the banks to post impressive growth in FY21," Indian Bank chief executive Padmaja Chunduru said.
Union Bank of India Q4 net loss narrows
State-owned Union Bank of India on Tuesday reported narrowing of its standalone net loss to Rs 2,503.18 crore in the fourth quarter ended March 2020.
The bank had posted a net loss of Rs 3,369.23 crore during the same quarter of the previous financial year. Sequentially, there was a net profit of Rs 574.58 crore in the third quarter of 2019-20.
Standalone income during the March 2020 quarter rose to Rs 11,306.99 crore from Rs 9,621.01 crore a year ago, the bank said in a regulatory filing.
Its provisioning for bad loans and contingencies in April-March 2020 fell to Rs 3,501.69 crore, compared with Rs 5,766.15 crore in the year-ago period.
For the full financial year 2019-20, Union Bank posted a standalone net loss of Rs 2,897.78 crore, down as compared with a loss of Rs 2,947.45 crore a year ago.
Income during the year, however, rose to Rs 42,491.91 crore from Rs 38,540.61 crore in the previous financial year.
On the asset front, the bank witnessed improvement with the gross non-performing assets (NPAs) coming down to 14.15 per cent of the gross advances as on March 31, 2020, from 14.98 per cent by the end of March 2019.
In absolute value, gross NPAs or bad loans stood at Rs 49,085.30 crore by the end of 2019-20, against Rs 48,729.15 crore a year ago.
Net NPAs fell to 5.49 per cent (Rs 17,303.14 crore) from 6.85 per cent (Rs 20,332.42 crore).
The amalgamation of Andhra Bank and Corporation Bank with Union Bank of lndia was effective April 1, 2020.
"Accordingly, the bank, as a prudential measure, has made harmonisation provisioning in its books of accounts for the position as on March 31, 2020, with regard to impact of divergence in asset classification across Union Bank of India, Andhra Bank and Corporation Bank as per extant norms," it said.
The lender added that it has made an additional harmonisation provision for the quarter and year ended March 31, 2020, amounting to Rs 2,509.98 crore and the same is disclosed as exceptional items in the financial results.
With the amalgamation of Andhra Bank and Corporation Bank, Union Bank has become the fifth-largest public sector bank in the country and has an enhanced business mix having a total business of Rs 15 lakh crore and 120 million customer base.
Its gross advances stood at around Rs 6.50 lakh crore as on March 31, 2020.
Canara Bank Q4 result, net loss widens
The bank had registered a net loss of Rs 551.53 crore during the corresponding January-March 2019 quarter.
However, income on a standalone basis during January-March rose to Rs 14,222.39 crore, compared with Rs 14,000.43 crore in the year-ago period, Canara Bank said in a regulatory filing.
The lender made a huge provisioning of Rs 5,375.38 crore for the March 2020 quarter, even as it was lower than the Rs 5,523.50 crore parked aside for corresponding period of 2018-19.
For the full year 2019-20, there was a loss of Rs 2,235.72 crore during 2019-20. The public sector bank had posted a net profit of Rs 347.02 crore in 2018-19.
On asset quality, gross non-performing assets (NPAs) continued to remain at an elevated level of 8.21 per cent at the end of March 2020, slightly better than 8.83 per cent by the end of March 2019.
In value terms, the gross NPAs or bad loans of the bank stood at Rs 37,041.15 crore as on March 31, 2020, vis-a-vis Rs 39,224.12 crore in the year-ago period.
Net NPAs were, however, trimmed substantially to 4.22 per cent (Rs 18,250.95 crore) from 5.37 per cent (Rs 22,955.11 crore).
Provision coverage ratio as on March 31, 2020, stood at 75.86 per cent, compared with 70.97 per cent as on December 31, 2019, and 68.13 per cent as on March 31, 2019, it said.
The amalgamation of Syndicate Bank into Canara Bank was effected on April 1, 2020. In this connection, the Reserve Bank of India, with a view to obviating future build-up of stresses in the bank, advised Canara Bank to ensure a harmonisation provision as on March 31, 2020, with respect to the impact of divergence in asset classification across both the banks, it said.
Accordingly, based on the harmonisation process carried out by Canara Bank, the bank made the changes in asset classification and provisioning as per extant norms as at the year-end.
"The harmonisation process as above has resulted in increase in gross NPA by Rs 532.63 crore and increase in NPA provision by Rs 340 crore during the year ended on March 31, 2020," Canara Bank said.
Further, the Bengaluru-headquartered lender said it has availed option for deferment of provision in respect of frauds reported for Rs 2,349.59 crore requiring additional provision of Rs 1,989.26 crore in terms of option available as per the RBI circular.
Accordingly, an amount of Rs 497.31 crore has been charged to profit and loss account and an amount of Rs 1,491.95 crore have been charged to reserves and deferred for adjustment in subsequent quarters, it added.
On COVID-19, it said that due to lockdown impact on economy, the situation continues to be uncertain and the bank 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. The bank is gearing itself on all the fronts to meet these challenges. The management believes that no adjustments are required in the financial results as it does not significantly impact the current financial year," it said.
Despite these events and conditions, there would not be any significant impact on the bank's results in future and going concern assumptions as at presently made, it added
Bank of Baroda posts net profit in Q4
Bank of Baroda on Tuesday reported a standalone net profit of Rs 506.59 crore for the March 2020 quarter.
The bank had posted a net profit of Rs 991.37 crore in the January-March quarter of the preceding fiscal ended March 2019.
The figures for the quarter are not comparable year-on-year due to amalgamation of Vijaya Bank and Dena Bank into it with effect from April 2019.
The Government of India through a gazette notification dated January 2, 2019 approved the scheme of amalgamation between Bank of Baroda, Dena Bank and Vijaya Bank and amalgamation is effective April 1, 2019.
The results for the quarter/ year ending March 31, 2020 and quarter ended December 31, 2019 includes operations of erstwhile Vijaya Bank and erstwhile DenaBank, Bank of Baroda said in a regulatory filing.
"Hence the results for quarter and year ended March 31, 2020 are not comparable with corresponding period of previous year and for the year ended March 31, 2019," it said.
The income for the March quarter of 2019-20 was at Rs 21,533.10 crore. Its income during the same quarter of 2018-19 was Rs 15,284.59 crore.
For the full year FY20, Bank of Baroda posted a net profit of Rs 546.18 crore, up from Rs 433.52 crore in FY19.
Income during the year increased to Rs 86,300.98 crore from Rs 56,065.10 crore.
On asset front, Bank of Baroda witnessed slight improvement as the gross non-performing assets (NPAs) or bad loans came down to 9.40 per cent of the gross advances as on March 31, 2020 as against 9.61 per cent by March 31, 2019.
Likewise, net NPAs fell to 3.13 per cent from 3.33 per cent.
The bank has not declared any dividend for the FY 2019-20, BoB said.
Non-performing assets provisioning coverage ratio (including floating provision) is 81.33 per cent as on March 31, 2020 (previous year's 78.68 per cent), it added
Punjab National Bank Q4 net loss narrows
Punjab National Bank’s net loss narrowed down to Rs 697.20 crore for the quarter ended March 31, compared with Rs 4,749.64 crore loss in the corresponding quarter last year.
Asset quality of the lender improved with the percentage of gross non-performing assets (NPA) at 14.21 per cent against 15.90 per cent YoY. The figure stood at 16.30 per cent in the preceding quarter ended December 31.
Percentage of net NPA also improved to 5.76 per cent from 6.56 per cent YoY.
PNB made provisions of Rs 4,901.31 crore for bad loans during the quarter under review, down 51.33 per cent from the year-ago period.
The lender is evaluating the uncertainty caused by Covid-19. “The major identified challenge for the bank would arise from eroding cash flows and extended working capital cycles. The bank is gearing itself on the fronts to meet these challenges. The management believes that no adjustments are required in the financial results as it does not significantly impact the current financial year,” PNB said in a regulatory filing on Friday.
The provision coverage ratio of the bank stood at 77.79 per cent as of March 31.
City Union Bank Q4 results, Reports Rs 95.25 crore loss
City Union Bank on Thursday reported a loss of Rs 95.25 crore for the fourth quarter ended March 2020, due to a spike in bad loan provisioning.
The private sector lender had posted a net profit of Rs 175.11 crore during the corresponding quarter of the previous financial year 2018-19. Sequentially, the bank had registered a net profit of Rs 192.43 crore in the December 2019 quarter.
The bank's provisioning for bad loans and contingencies had to be raised multi- fold to Rs 450.38 crore in the March 2020 quarter, against Rs 90.67 crore in the year-ago period, City Union Bank said in a regulatory filing.
Income during the reporting quarter of 2019-20 rose to Rs 1,220.98 crore, from Rs 1,131.44 crore a year ago.
On the asset front, the bank witnessed a spike in bad loans as gross non-performing assets (NPAs) rose to 4.09 per cent of the gross advances as on March 31, 2020, as against 2.95 per cent in the year-ago corresponding quarter.
In absolute value, the gross NPAs were of Rs 1,413.40 crore, higher than Rs 977.05 crore in the year-ago period.
Likewise, the net NPAs also increased to 2.29 per cent (Rs 778.49 crore), compared with 1.81 per cent (Rs 591.46 crore).
For the full year 2019-20, the bank posted a net profit of Rs 476.32 crore, down 30.2 per cent from Rs 682.85 crore in 2018-19.
However, income during the year grew to Rs 4,848.54 crore, from Rs 4,281.56 crore in the preceding financial year.
On the coronavirus pandemic, City Union Bank said it has sufficient capital and adequate liquidity to support its business growth and would continue to be the focus area of the bank during this period.
"The bank, based on available information at this point of time and as a prudent measure, has made a provision of Rs 125 crore in the current quarter that includes an adhoc COVID-19 provision of Rs 102 crore, over and above the (Reserve Bank of India) RBI-prescribed norms," it said.
Bank of Maharashtra posts net profit in Q4
State-owned Bank of Maharashtra(BoM) on Tuesday posted a 20 per cent decline in net profit at Rs 57.57 crore in the fourth quarter ended on March 31 hit by the COVID-19 crisis.
The bank had posted a net profit of Rs 72.38 crore in the corresponding quarter of the previous financial year.
The total income during the January-March quarter of 2019-20 rose to Rs 3,198.30 crore from Rs 3,160.79 crore in the year-ago quarter, the bank said in a release.
“The profit in the (March) quarter was down as we made certain additional provisions for COVID of around Rs 150 crore during the quarter as against the required provision of Rs 38 crore," the bank's managing director and CEO A S Rajeev said.
The higher provision is on account of a 20 per cent provision the bank made on its SMA (special mention account) 2 book which is at Rs 702 crore as against the regulatory requirement of 10 per cent, he further explained.
“Had this higher provision not there, our profit would have been over Rs 200 crore during the quarter," Rajeev said.
Nearly 40 per cent of the bank's borrowers have availed the moratorium on term loans announced by the RBI. In value terms, close to Rs 16,400 crore of its total term loan book is under moratorium.
Its net interest margins stood at 2.41 per cent in the quarter ended March as against 2.64 per cent in the same period last year.
On the assets front, gross bad loans or non-performing assets (NPAs) of the bank came down to 12.81 per cent of the gross advances as on March 31, 2020, from 16.40 per cent a year ago.
Net NPA came down to 4.77 per cent from 5.52 per cent a year ago.
Provision coverage ratio improved to 83.97 per cent as on March 31 as against 81.49 per cent as on March 2019, it said.
Its recovery and upgradation stood at Rs 511 crore during the quarter. Fresh slippages were at Rs 942 crore as against Rs 1,085 crore.
Capital adequacy ratio under Basel III stood at 13.52 per cent as compared to 11.86 per cent. Net advances rose 5.09 per cent to Rs 86,872 crore as against Rs 82,666 crore.
"In terms of RBI circular dated April 17, the bank has made provision of Rs 150 crore in FY20 towards COVID-19 Regulatory Package Provision as against required provision at the rate of 5 per cent that is Rs 38 crore," it said.
For the entire financial year 2019-20, Bank of Maharashtra earned net profit of Rs 389 crore as against loss of Rs 4,783 crore in the previous fiscal.
Net Interest Margin of the bank improved to 2.60 per cent in 2019-20 as compared to 2.53 per cent in 2018-19.
During the year, the business, a mix of total deposit and advances, increased to Rs 2,44,955 crore from Rs 2,34,117 crore in 2018-19.
As per the RBI direction, the bank has not announced dividend despite posting profit for 2019-20.
The past several weeks have witnessed the country battling an unprecedented crisis on account of COVID-19 pandemic, it said, adding, the Bank was quick to recognize the gravity of the situation and took various supportive measures for the welfare of the customers and employees.
Bank waived service charges in Current and Savings account up to June 30, 2020. Besides, the bank has introduced GECL scheme under Emergency Credit Line Guarantee Scheme.
Under this scheme, the bank has been offering working capital loan up to 20 per cent of the borrowers total outstanding credit (max upto Rs 25 crore) to all business accounts with annual turnover up to Rs 100 crores for FY 2019-20.
SBI net profit jumps to Rs.3,581 crore in Q4
State Bank of India (SBI), the country's largest lender by assets, reported a more than four-fold jump in profit for the fourth quarter on Friday, driven by a one-time gain from a stake sale in its credit card unit. Net profit for the three months ended March 31 jumped to Rs.3,581 crore from Rs.838 crore a year earlier, SBI said in a regulatory filing.
SBI's net profit was lifted by a one-time gain of Rs.2,731 crore on sale of certain portion investment in bank's credit card subsidiary SBI Cards in Q4.
Gross bad loans as a percentage of total loans, a measure of asset quality, eased to 6.15% from 6.94% in the previous quarter, while provisions for bad loans fell 31.4% to Rs.11,894 crore.
Highlights of SBI results:
SBI registered a net profit of Rs.3,581 crore in Q4FY20, an increase of 327% over Q4FY19.
For the full year FY20, net profit stood at Rs. 14,488 crore against net profit of ₹862 crore in FY19. This is also the highest ever yearly net profit recorded by the Bank.
Operating Profit increased to Rs. 68,133 Crores in FY20 from Rs. 55,436 Crores in FY19, an increase of 22.90% YoY.
Net Interest Income of the Bank grew by 11.02% YoY during FY20.
Domestic Net Interest Margin (NIM) improved to 3.19% in FY20, registering an increase of 24 bps YoY.
Non-Interest Income for FY20 at Rs. 45,221 Cr is up by 22.97% YoY.
Total Deposits grew at 11.34% YoY, out of which Current Account Deposit grew by 7.56% YoY, while Saving Bank Deposits grew by 9.99% YoY.
Credit Growth stood at 5.64% YoY, mainly driven by Retail (Personal) Advances (15.40% YoY) and Foreign Office Advances (18.05% YoY).
Home loan, which constitutes 22% of Bank’s domestic advances, has grown by 13.86% YoY.
Net NPA ratio at 2.23% is down 78 bps YoY and 42 bps QoQ.
Gross NPA ratio at 6.15% is down 138 bps YoY and 79 bps QoQ.
Provision Coverage Ratio (PCR) has improved to 83.62%, up 489 bps YoY and 189 bps QoQ.
Slippages Ratio for FY20 has declined to 2.16% from 2.42% as at the end of 9MFY20.
Credit Cost as at the end of FY20 has declined 79 bps YoY to 1.87%.
Cost to Income Ratio has improved from 55.70% in FY19 to 52.46% in FY20, an improvement of 324 bps.
