Click here to Download Android App of Latest Bank Update

Do you want to share your banking article with the viewers of Latest Bank Updates...
Send on

Back to Top

Like Latest Bank Updates on Facebook

Contact Us

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.

Its earnings from corporate and wholesale banking fell to Rs2,088.98 crore for the quarter, from Rs2,562.28 crore a year ago. Revenues from retail banking operations were only marginally up at Rs1,984.67 crore for the quarter, from Rs1,973.66 crore a year earlier.

Asset quality of the bank slipped with gross non-performing assets (NPAs) rising to 9.96% of the gross advances by 30 June from 7.53% of the gross loans disbursed as on 30 June 2016. Net NPAs were 6.27% of the net loans as at end-June this year, from 5.04% in 30 June 2016. The provision coverage ratio as on 30 June stood at 54.80%.

No comments:

Post a Comment

Important keywords

Abhyudaya Co-op Bank Ltd AIBEA AIBOA AIBOC Allahabad Bank Andhra Bank Arunachal Pradesh Rural Bank Assam Co-operative Apex Bank Ltd Atal Pension Yojana(APY) Axis Bank Balance inquiry number BaNCS Bandhan Bank Bank of Baroda Bank of India Bank of Maharashtra Bankers Banks Banks Board Bureau BEFI Bharatiya Mahila Bank Bipartite Settlement CANARA BANK Cash Reserve Ratio(CRR) Catholic Syrian Bank CBS CENTRAL BANK OF INDIA Cheque Truncation System City Union Bank Corporation Bank COSMOS Bank Credit Card Credit Officer DA DCB Bank Dena Bank Dhanlaxmi Bank Federal Bank Finacle FRDI Gandhinagar Nagarik Co. Op. Bank GSC Bank HDFC Bank IBA IBPS ICICI Bank IDBI Bank IDFC Bank India Post Payments Bank Limited INDIAN BANK Indian Overseas Bank IndusInd Bank J & K Bank Kalol Nagrik Sahakari Bank Kangra Central Co-operative Bank Karnataka Bank Karur Vysya Bank Kerala Gramin Bank Kotak Mahindra Bank Lakshmi Vilas Bank Langpi Dehangi Rural Bank Meghalaya Rural Bank Mehsana Urban Co. Operative Bank Ltd Mizoram Rural Bank NABARD Nagaland Rural Bank Nainital Bank NPA NPCI NPS Oriental Bank of Commerce PPF Pradhan Mantri Sneh Bandhan Yojana Prompt Corrective Action Punjab & Sind Bank Punjab National Bank Q1 Results Q1FY17 Q1FY18 Q2 Results Q2FY17 Q2FY18 Q3 results Q3FY17 Q3FY18 Q4 Results Q4FY16 Q4FY17 Rajkot Nagarik Sahakari Bank RBI RBL Bank SBBJ South Indian Bank Sovereign Gold Bonds Specialist Officer SSBEA State Bank of Hyderabad state bank of india State Bank of Mysore State Bank of Patiala State Bank of Travancore strike Sukanya Samriddhi SYNDICATE BANK The Kalupur Co-Operative Bank UCO Bank UFBU Unified Payments Interface Union Bank of India United Bank of India UPI USSD Vijaya Bank Yes Bank

Contact Form


Email *

Message *