Bank of Baroda(BOB) Q1 result, net profit falls 52%

Public sector Bank of Baroda (BOB) on Friday reported nearly 52% fall in net profit at Rs203.39 crore for the first quarter ended June on higher provisioning, although NPAs remained largely unchanged.

The bank’s net profit in the corresponding April-June quarter of 2016-17 stood at Rs 423.62 crore.

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State Bank of India(SBI) Q1 result, profit falls 20.4%

State Bank of India, India’s biggest lender by asset, on Friday reported 20.45% decline in its net profit for the June quarter as bad loans surged.

Net profit for the quarter was reported at Rs2,005.53 crore as compared to Rs2,520.96 crore a year ago. Fourteen analysts polled by Bloomberg had forecast a profit of Rs2,955.90 crore.

Provisions and contingencies surged 53.1% to Rs21,054.74 crore from Rs13,752.66 crore in the same quarter last year. Quarter on quarter, it fell 7.38% from Rs22,733.01 crore.

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City Union Bank Q1 net profit rises 13.6 %

Private sector City Union Bank has recorded a 13.6% rise in its first quarter net profit ending 30 June 2017 at Rs140.32 crore.

The Tamil Nadu-based bank had registered net profit at Rs123.52 crore in the corresponding quarter of last year.

For the full year ending 31 March 2017, net profit of the bank stood at Rs502.76 crore. Total income of the bank for the 1 April-30 June 2017 quarter rose to Rs960.86 crore from Rs883.30 crore registered during year ago period.

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Indian Overseas Bank reduced Q1 loss

State-owned Indian Overseas Bank (IOB) on Thursday reported narrowing its losses to Rs499.09 crore in the first quarter ended June as provisions for bad assets were reduced. There was a loss to the tune of Rs1,450.50 crore during the corresponding April-June quarter of fiscal ended March 2017.

Total income of the bank also fell to Rs5,174.50 crore during the three months to June this fiscal, as against Rs5,868.44 crore on account of reduction in interest rates, the bank said in a regulatory filing.

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Union Bank of India Q1 profit falls nearly 30%

Public sector lender Union Bank of India’s net profit for the first quarter ended June 2017 (Q1FY18) dipped by 30.1 per cent to Rs 116 crore on a sharp rise in provisions for bad loans and taxes.The Mumbai-based lender had posted a net profit of Rs 166 crore in April-June 2016 (Q1FY17).

Its asset quality came under pressure due to slippages in the first quarter of FY18. Sequentially Gross Non-performing Assets (GNPAs) rose by Rs 3,574 crore to Rs 37,286 crore (12.63 per cent) over level for Rs 33,712 crore (11.17 per cent) at end of March 2017. The gross NPA stood at Rs 27,280 crore (10.16 per cent) at end of June 2016.

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