Corporation bank Q1 result, net profit up

Corporation Bank registered a net profit of ₹103.27 crore in the first quarter of 2019-20 as against a profit of ₹84.96 crore in the corresponding period of the previous fiscal, recording a growth of 21.55 per cent.

The gross NPA (non-performing asset) of the bank stood at 15.44 per cent (17.44 per cent), and net NPA at 5.69 per cent (11.46 per cent) during the period.

The amount of gross NPA came down to ₹20,913.07 crore (₹21,753.21 crore), and net NPA slipped to ₹6,907.51 crore (₹13,333.27 crore) during the first quarter of 2019-20.

The provisions (other than tax) and contingencies stood at ₹729.53 crore (₹1,611.93 crore). Of this, the provisions for NPAs stood at ₹715.98 crore (₹1,508.42 crore) during the quarter.

The bank registered a net interest income of ₹1,298.67 crore (₹1,564.21 crore) and the other income of ₹432.32 crore (₹787.33 crore) during the period.

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Andhra bank Q1 result, returned in to profit

State-owned Andhra Bank returned to profit in the first quarter ended June 30, by recording a standalone net profit of Rs 51.56 crore as provisions for bad loans came down.

The bank had registered a net loss of Rs 539.83 crore in the corresponding quarter of the previous financial year 2018-19. Sequentially, it had posted a net loss of Rs 1,233.61 crore in the quarter ended March 2019.

The lender''s total income, however, increased to Rs 5,437.03 crore in three months to June 2019 as compared with Rs 5,092.08 crore in the year-ago period, Andhra Bank said in a regulatory filing on Friday.

There was a slight improvement in bad asset ratio, as the gross non-performing assets (NPAs) stood at 16.44 per cent of the gross advances as on June 30, compared with 16.69 per cent a year ago and 16.21 per cent by the end of March 2019.

Net NPAs were 5.67 per cent as compared with 7.96 per cent at the end of June 2018. It was at 5.73 per cent by the end of March 2019.

The bank''s provisions for bad loans reduced to Rs 922.96 crore for the quarter from Rs 1,387.87 crore a year ago. Overall provisions and contingencies were down at Rs 1,041.04 crore during the quarter, against Rs 1,707.50 crore a year ago.

Provision coverage ratio as on June 30 was 74.45 per cent, Andhra Bank said.

On a consolidated basis, the bank posted a net profit of Rs 39.49 crore, compared with a net loss of Rs 536.80 crore a year earlier. Total income for the year was up at Rs 5,723.60 crore, against Rs 5,315.56 crore a year ago.

The lender posted losses in the all the four quarters of the previous fiscal year 2018-19, registering a collective loss of Rs 2,786.13 crore during the year.

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Union Bank of India Q1 result, profit rises 73%

Union Bank of India today posted a jump of 73.3 per cent in standalone net profit at Rs 224.43 crore for the quarter ended June 30, 2019.

The lender’s profit in the year-ago period stood at Rs 129.54 crore. In the previous March quarter 2019, there was a net loss of Rs 3,369.23 crore.

Total income fell to Rs 9,887.14 crore during the June quarter 2019, as against Rs 9,908.76 crore in the year-ago period, the public sector lender said in a regulatory filing.

The bank’s consolidated net profit was Rs 230.12 crore during the quarter, compared with Rs 140.50 crore a year ago. Income rose to Rs 10,053.68 crore from Rs 10,042.29 crore.

It witnessed an improvement in asset quality as gross non-performing assets (NPAs) fell to 15.18 per cent of gross advances as on June 30, 2019 from 16 per cent by end of June 2018.

Net NPAs were down at 7.23 per cent from 8.70 per cent a year earlier. In value terms, gross NPAs or bad loans were Rs 48,841.88 crore by end-June this year, as against Rs 50,972.64 crore a year ago. Net NPAs stood at Rs 21,230.89 crore, down from Rs 25,508.46 crore earlier.

Thus, provision for bad loans fell to Rs 1,431.10 crore during April-June 2019, from Rs 1,803.17 crore in the year- ago same quarter.

Overall provisions and contingencies in the three months to June 2019 were down at Rs 1,519.34 crore, as against Rs 2,289.07 crore a year earlier.

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State bank of India(SBI) Q1 result, posts profit as high income

Country's largest lender State Bank of India has reported a standalone profit of Rs 2,312.20 crore for the quarter ended June 2019, aided by lower provisioning with stable asset quality.

Higher other income and operating income also boosted profitability, though tepid NII growth limited profits.

The bank had reported a loss of Rs 4,875.85 crore in the corresponding period last fiscal. On a quarter-on-quarter basis, it reported a whopping 176 percent jump in profit against Rs 838.40 crore in March quarter.

Net interest income grew by 5.2 percent year-on-year to Rs 22,938.8 crore in June quarter 2019.

Asset quality was stable with gross non-performing assets as a percentage of gross advances flat at 7.53 percent in Q1 compared to previous quarter, though net NPA as a percentage of net advances inched up by 6bps sequentially to 3.07 percent in June quarter.

Provisions for bad loans fell significantly by 32.80 percent quarter-on-quarter to Rs 11,648.5 crore in Q1. The same declined 10.65 percent YoY. Provision coverage ratio also improved to 79.34 percent at the end of June 2019, from 78.7 percent in March 2019.

Provisions and contingencies were lower by 44 percent sequentially and 52.2 percent year-on-year to Rs 9,183 crore, the bank said.

The lender further said it has been holding provision of Rs 3,553 crore for accounts covered under Insolvency & Bankruptcy Code and made provision of Rs 996 crore for arrears of wages.

Non-interest income (other income) during the quarter grew by 20 percent to Rs 8,015.4 crore compared to year-ago and operating profit increased 10.6 percent to Rs 13,246.2 crore YoY.

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DA for Bank Pensioners from Aug-19 to Feb-20

The average index number for April 2019 to June 2019 works out to 7172. Therefore Bank Pensioners would get 70 slabs to increase as dearness relief for the half-year August 2019 – February 2020. The following chart shows the rate of dearness relief applicable to bank pensioners who have retired on various dates.

The percentage of Dearness Relief (DR) payable to the bank pensioners for the half year August 2019 to January 2020 will be as under.

1. Retired on or after 1.11.2012:  Average index: 7167 (681 slabs)

No of slabs	Rate per Slab @	Percentage of DR  payable	DR on Basic Pension (Before commutation)
681	0.10	68.10%	Basic Pension × 68.10%

• Retired on or after 1.11.2007 up to 31.10.2012: Average index 7167 (1084 slabs)

No of slabs	Rate per Slab	Percentage of DR  payable	DR on Basic Pension (Before commutation)
1084	0.15	162.60%	Basic Pension× 162.60 %

• Retired on or after 1.11.2002 and up to 31.10.2007 Average index 7167 (1219 slabs)

No of slabs	Rate per Slab	Percentage of DR  payable	DR on Basic Pension  (Before commutation)
1219	0.18	219.42%	Basic Pension× 219.42 %

• Retired on or after 01.04.1998 till 31.10.2002  Average index number7167: (1370 slabs)

Basic pension (before commutation)	DR amount
Up to basic pension 3550	Basic Pension×328.80 %
Basic pension from 3551 to 5650 (2100)	11672.40 + for the basic pension in excess of @274%
Basic pension from  5651 to 6010 (360)	17426.40 +for  basic pension in excess of 5650 up to 6010 @ 164.40%
Basic pension 6011 and above	18018.24 + for the basic  pension in excess of 6010 @ 82%

• Retired on or after 1.11.92/1.7.93 up to 31.3.98 Average index 7167 (1504 slabs)

Basic pension (before commutation)	DR Amount
Up to basic pension 2400	526.40% × basic pension
Basic pension from 2401 to 3850 (1450)	12633 + from 2401 up to 3850 @  @436.16%
Basic pension from  3851 to 4100 (250)	18957.32 + for pension in excess of 3851 up to 4100 @ 255.68%
Basic pension 4101 and above	19596.32. +for pension in excess of 4100  @ 135.09%

• Retired on or after 1.1.86 and before 1stNovember 1992/1st July 1993 and before 01.11.2002

Average index number 7167 (1641 slabs)

Retired on or after 1.1.86 and before 1stNovember 1992/1st July 1993 and before 01.11.2002

600 points merger 7167-600= 6567/4=1641 slabs

Basic pension	DR amount on 1641  slabs
Basic pension up to 1250	Basic Pension ×1099.47%
Basic pension from 1251 to 2000 (750)	Rs.13743.37+for the basic pension in excess of Rs.1250 @902.55%
Basic pension from  2001 to 2130 (130)	Rs.25025.24+for the basic pension in excess of Rs.2000@541.53%
Basic pension from 2131 above	Rs.25729.22 for the basic pension in excess of Rs.2130 @ 27897%

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Don't sale third party products in state run banks- AIBOC

Bank officers at state-run banks are facing tremendous work pressure due to staff shortage and sale of third-party products like mutual funds which should be stopped, a senior official of All India Bank Officers' Association (AIBOC) said.

Bank managements are turning lenders into supermarkets of all banking services and shifting the focus of bank officers to just third party products, AIBOC Vice-President Deepak Sharma told PTI here.

This tremendous pressure is leading them to depression or suicidal tendencies on account of their unending efforts to make a balance between multiple pressures, job requirements, and appeasement of bosses, he added.

The officers in nationalized banks are under tremendous pressure to meet the targets on those works which are basically not in their basic Job, he claimed.

"There is heavy workload,acute shortage of staff and lot of pressure down the line to sell mutual funds and insurance products to make banks as super markets of all banking services, which has beencreated by the bank managements, misplacingthefocus of bank officerson just third-party products," he said.

Sharma alleged that in the last few years,bank managements are creatinglot of pressure down the line to sell mutual funds and insurance products,as these sales arelinked with higher income in the shape of incentives to seniors, in perks,foreign tours, gala parties in five star hotels in exotic locations, recognition and rewards to best performers, promotions etc.

He said that there is an urgent necessity to stop handling of such non banking activities in banks in the interests of banks, employees and customers, rather bank managements should recruit sufficient staff to implement various govt sponsored schemes.

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DA hike for Bank Employees from Aug-19

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Allahabad Bank Q1 result, posts a net profit

Allahabad Bank reported a net profit of Rs 128 crore in Q1 June 2019 as compared to a net loss of Rs 1944.37 crore in Q1 June 2018.

Bank's gross non-performing assets (NPAs) stood at Rs 28,703.47 crore as on 30 June 2019 as against Rs 28,704.78 crore as on 31 March 2019 and Rs 25,067.55 crore as on 30 June 2018.

The ratio of gross NPAs to gross advances stood at 17.43% as on 30 June 2019 as against 17.55% as on 31 March 2019 and 15.97% as on 30 June 2018.

The ratio of net NPAs to net advances stood at 5.71% as on 30 June 2019 as against 5.22% as on 31 March 2019 and 7.32% as on 30 June 2018.

The provisions and contingencies declined 63.48% to Rs 1008.80 crore in Q1 June 2019 from Rs 2762.82 crore in Q1 June 2018. Provision coverage ratio of the bank was at 78.58% as on Q1 June 2019.

Bank's capital adequacy ratio (Basel III) rose to 12.55% in Q1 June 2019 from 6.88% in Q1 June 2018.

The Government of India holds 92.1% stake in Allahabad Bank as of 30 June 2019.

Allahabad Bank is a leading public sector commercial banks in India, offering banking products and services to corporate and commercial customers and retail customers.

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