Punjab and Sind Bank Q2 profit slips 78%

State-owned Punjab and Sind Bank (PSB) today reported a 77.8 per cent decline in net profit at Rs 13.70 crore for the second quarter ended September, mainly due to rise in bad loans. 

Net profit of the bank stood at Rs 61.89 crore for the same quarter a year ago. 

Total income also declined to Rs 2,166.64 crore in the second quarter from Rs 2,203.74 crore in the corresponding period a year earlier, PSB said in a statement. 

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Bank of Baroda(BoB) Q2 net profit falls 36%, misses estimates

Public sector lender Bank of Baroda's second quarter profit missed analyst expectations, falling 35.6 percent year-on-year to Rs 355.4 crore on higher provisions, but asset quality improved on sequential basis.

The bank had reported net profit of Rs 552.1 crore for September quarter last year. Profit, however, registered a 74.88 percent increase compared with previous quarter.

Net interest income during the quarter grew by 8.6 percent year-on-year to Rs 3,720.5 crore, which was ahead of estimates.

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Karur Vysya Bank Q2 net profit falls 40%

Private sector Karur Vysya Bank today reported a 40% fall in net profit at Rs75.65 crore for the quarter ending September due to increased provisioning for rising bad loans.

The bank had registered a net profit of Rs126.31 crore in the similar July-September quarter of previous fiscal. Total income of the bank was at Rs1,632.50 crore in the July-September period of 2017-18, up from Rs1,610.77 crore in the same period of 2016-17, the bank said in a regulatory filing.

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Air India gets Rs 1,500-cr loan from Bank of India(BoI)

Debt-laden Air India has received a loan worth of Rs 1,500 crore from Bank of India to meet urgent working capital needs less than a month after floating a tender in this regard, an airline source said.For the second time in recent months, the flagship carrier has received loans from a public sector lender.

Battling multiple headwinds, the disinvestment-bound airline has been working on ways to reduce its debt, including by way of selling non-core assets and expanding operations.

The source said the airline has received Rs 1,500 crore loan from Bank of India after the tender for the amount was floated last month in order to meet "urgent" working capital needs.A query sent to Bank of India remained unanswered.

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Robbers tunnel through Navi Mumbai bank, steal valuables from 27 lockers

One of the reasons why heists capture popular imagination is the modus operandi. In a recent heist at a bank, the inspiration appears to be a movie — Shawshank Redemption.

Staffers of the Bank of Baroda's Juinagar branch in Navi Mumbai were in for a shock on Monday after they realised robbers decamped with valuables from 27 lockers. Their modus operandi — digging a tunnel through an adjacent shop, much like in Shawshank Redemption where the protagonist stages a prison-break by digging a tunnel.

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United Bank of India slips into red, posts loss in Q2

Kolkata-based United Bank of India posted a net loss of about Rs 345 crore for the second quarter of the present financial year, against a net profit of Rs 44 crore in the same period last financial year.

The bank's provision coverage ratio (PCR) stood at 57.41 per cent at the end of Q2FY18, against 51.70 per cent at the end of Q2FY17. Its provisions in the last quarter stood at about Rs 753 crore, against Rs 401 crore at the end of Q2 of FY17.

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