IDBI Bank posts Q1 net loss due to higher NPAs

IDBI Bank Ltd on Monday reported a net loss of Rs853.01 crore in the quarter against a profit of Rs241.10 crore in the same quarter last year due to increase in bad loans and slower credit growth.
However, the loss was restricted due to tax write-back of Rs339.61 crore.
Gross non-performing assets (NPAs) surged 84% to Rs50,173 crore during the quarter from Rs272.75 billion in the same quarter last year.
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United Bank of India reported net loss in Q1 result

State-owned United Bank of India on Saturday reported a net loss of Rs211.46 crore during the first quarter ended June, on rise in non-performing assets (NPAs) and higher provisioning.

The bank had registered a net profit of Rs38.32 crore in the June quarter of previous fiscal. Total income of the bank during the reported quarter was marginally up at Rs2,852.61 crore as against Rs2,819.37 crore year ago, the bank said in a regulatory filing.
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Allahabad Bank Q1 result, reported net profit of Rs 29 crore


State-run Allahabad Bank reported Rs 29 crore net profit for the first quarter riding on steady rise in treasury income and commission earned as well as on lower provision. 


This is the second straight quarterly profit for the bank after a lackluster last fiscal. It had reported Rs 565 crore loss in the year ago period while made net profit of Rs 111 crore in the fourth quarter. 
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Corporation Bank Q1 net profit rises 67%

State-owned Corporation Bank has reported a rise of 67.5% in net profit at Rs 60.15 crore for the first quarter ended June 30, 2017.
Bank’s net profit in the April-June quarter of previous fiscal was at Rs 35.92 crore. However, total income of the bank was lower than a year earlier at Rs 5,112.99 crore during June quarter of 2017-18, as against Rs 5,241.11 crore in the same period year ago, due to fall in wholesale and retail earnings, it said in a regulatory filing.
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Oriental Bank of Commerce(OBC) Q1 result, reported net loss

Public sector Oriental Bank of Commerce (OBC) on Friday reported a net loss of Rs486.20 crore for the first quarter ended June, due to lower income and higher provisioning for bad loans. The bank had posted a net profit of Rs100.69 crore in the April-June quarter of the previous fiscal.
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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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Punjab & Sind Bank Q1 net profit rises

Punjab & Sind Bank today announced the financial results for the Quarter ended June,2017. The Bank has earned an operating profit of Rs 305.44 crore. 

Net Profit of Rs 25.37 crore for the quarter ended June,2017 as compared to Rs 8.33 crore in last quarter.

In comparison to last quarter, Net profit of the bank as on 30.06.2017 surged to Rs 25.37 crore registering a growth of 204.56%. 
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Bank of India swings from loss to profit in Q1

Bank of India on Wednesday reported a profit for the June quarter against loss a year ago after the lender provided less provisions against bad loans and other income jumped.
Net profit for the quarter stood at Rs87.71 crore as compared to a net loss of Rs374.97 crore a year ago. Ten analysts polled by Bloomberg had forecast a net loss of Rs83.90 crore.
Provisions and contingencies declined 19% to Rs2,245.28 crore from Rs2,770.19 crore in the same quarter last year. Quarter-on-quarter, it slumped 53% from Rs4,736.21 crore. Other income surged 30.08% from a year ago to Rs1,610.96 crore.
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Syndicate Bank reports Q1 net loss due to bad loans

Public sector Syndicate Bank on Saturday reported a net loss of Rs263.19 crore for the June quarter of the current fiscal due to sharp increase in provisions for bad loans. In comparison, it had reported a net profit of Rs79.13 crore in the June quarter of last fiscal, 2016-17.
The total income during the first quarter of the fiscal also fell to Rs6,171.49 crore, as against Rs6,419.12 crore in the year-ago period, the bank said in a regulatory filing. The bank’s provisioning to cover for bad loans jumped by 79% to Rs1,385.66 crore for the quarter under review, as against Rs774.41 crore a year ago.
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Andhra Bank Q1 profit rises 14% at Rs 40 cr

has reported a 14% increase in net profit at Rs 40.42 crore for the quarter ended June 2017, largely helped by a fall in expenditure despite a growth in revenue. The net profit was Rs 31.09 crore in the same quarter previous financial year.

Total income for the bank grew 6.2 per cent at Rs 5,155.21 crore during the quarter under review helped by a steep rise in income from the treasury, as compared with Rs 4,855.50 crore in the year ago period.
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UCO Bank Q1 net loss widens

UCO Bank on Wednesday said its net losses widened to Rs663.02 crore for the first quarter ended 30 June, as asset quality deteriorated in the period. The bank had reported a net loss of Rs440.56 crore in the corresponding April-June quarter of 2016-17. The lender increased provisioning for bad loans by 28% to Rs1,204.25 crore during the June quarter.
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Punjab National Bank (PNB) Q1 net profit up 12%

Punjab National Bank (PNB) on Wednesday posted 12 percent gain in its June quarter net profit at Rs 343.4 crore against Rs 306.4 crore in the same period last year. But the cause of concern for the bank is the declining asset quality as net non-performing assets rose to 8.67 percent against 7.81 percent in the previous quarter.

According to a poll of analysts by CNBC-TV18, the lender was expected to post a profit of Rs 358.9 crore.
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Bank of Maharashtra(BoM) Q1 net loss widens

State-owned Bank of Maharashtra today reported a widening of its net loss to Rs 412.20 crore for the first quarter ended June of the current fiscal as gross bad loans zoomed.The bank's net loss in the corresponding April-June period of the previous fiscal was at Rs 397.40 crore.

There was a sharp deterioration in the bank's asset quality as gross non-performing assets, or bad loans, hit 18.59 percent of the gross advances as on June 30, 2017 from 12.64 percent in the same period ended June 30, 2016, the bank said in a regulatory filing.Sequentially, gross NPAs rose from 16.93 percent as on March 31, 2017.
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Central Bank of India Q1 net loss at Rs576.76 crore

State-run Central Bank of India on Saturday reported a net loss of Rs576.76 crore for the quarter ended 30 June.
The bank had reported a net loss of Rs599.81 crore in the corresponding quarter a year ago. Total income stood at Rs6,870.78 crore for the quarter under review, as against Rs6,662.68 crore in the first quarter of the previous fiscal, Central Bank of India said in a Bombay Stock Exchange (BSE) filing.
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Dena Bank Q1 net loss narrows to Rs.132.6 crore

State-run Dena Bank today reported an improvement with the net loss reducing to Rs 132.65 crore in the quarter ended June 30, helped by decline in NPAs and better net interest margin.

The bank had reported a loss of Rs 279.35 crore in the same quarter last year."Our provisions on NPAs have come down which resulted in reduction in loss this quarter. Last year in the June quarter, our NPAs provisioning was Rs 598 crore which has come down to Rs 434.58 crore this year," chairman and managing director Ashwani Kumar told reporters here.
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