Public Sector Banks :
Private Sector Banks :
Results of Indian Public & Private Sector Banks for Q2 2016-17
Private Sector Banks :
Private Sector Banks :
Corporation Bank Q2 result, net profit up 9% at Rs 206 cr
Corporation Bank today posted 9 per cent rise in net profit at Rs 206.28 crore for the quarter ending September despite rise in provisioning for bad loans.
The state-owned bank had a profit of Rs 188.60 crore during the second quarter of the last financial year. Total income rose to Rs 5,750.61 crore during the second quarter of the current fiscal, from Rs 5,434.65 crore in the same period of 2015-16, Corporation Bank said in filing to stock exchanges.
As of September 30, the bank's gross NPAs doubled to 10.81 per cent of gross advances, compared with 5.32 per cent a year ago.
Similarly, the net NPAs rose to 6.91 per cent from 3.54 per cent. As a result, provision (other than tax) and contingencies rose significantly to Rs 826.80 crore as compared to Rs 563.76 crore in the same period a year ago.
Bank of Baroda Q2 net profit at Rs552.12 crore
Bank of Baroda on Friday reported net profit that more than tripled to Rs552.12 crore in the September quarter, helped by lower provisions against bad loans, a fall in expenses and higher non-interest income.
The state-owned lender had posted a net profit of Rs124.48 crore in the year-ago quarter.
Net interest income (NII), or the difference between interest earned on loans and that paid on deposits, rose 5.6% year-on-year to Rs3,426 crore. Non-interest income, which includes fees and commissions, rose 36.5% to Rs1,561.43 crore year-on-year.
The lender’s total expenditure fell 6% from a year earlier to Rs9,356.40 crore.
Total advances fell to Rs3.54 trillion as of 30 September, from Rs4.14 trillion a year ago. The fall in advances crimped interest income, but a decline in high-cost deposits and a falling interest rate regime balanced it out.
Total deposits at the end of the second quarter amounted to Rs5.67 trillion, lower than the Rs6.1 trillion a year ago.
Indian Overseas Bank Q2 result, Net loss widens to Rs765.13 crore
Indian Overseas Bank Ltd on Friday said its second-quarter net loss widened to Rs765.13 crore from Rs550.83 crore a year earlier as it set aside more money to cover bad loans and earned less interest income.
Net interest income, or the difference between interest earned on loans and that paid on deposits, fell 8.03% to Rs1,285.81 crore from Rs1,398.06 crore in the corresponding period last year.
Non-interest income, which includes core fee income, rose 25.24% to Rs969.63 crore in the three months ended 30 September from Rs774.21 crore a year earlier.
Gross non-performing assets (NPAs) made up 21.77% of total advances, up from 20.48% in the preceding quarter.
The bank’s provisions during the quarter increased to Rs1,697.56 crore from Rs1,557.76 crore in the year-ago quarter.
SBI Q2 result, Profit falls 34.6% to Rs2,538.32 crore
State Bank of India (SBI) on Friday reported a 34.6% slump in September quarter net profit as provisions against bad loans doubled from a year ago, showing the continuing pain from a pile-up of toxic assets at India’s largest lender.
The bank reported a net profit of Rs2,538.32 crore in the three months, down from Rs3,879.07 crore in the year-ago period. According to a Bloomberg poll of 17 analysts, the bank had been expected to post a net profit of Rs2,585.40 crore.
Provisions against bad loans jumped 99.64% to Rs7,669.66 crore in the quarter from Rs3,841.77 crore in the year-ago period. On a sequential basis, provisions were up 21% from the June quarter’s Rs6,339.56 crore. The provision coverage ratio fell to 62.16% from 70.48%.
SBI reported fresh slippages—or new bad loans—worth Rs 10,341 crore during the July-September period, higher than Rs 8,790 crore in the June quarter and Rs5,875 crore in the same quarter last year. Loan recoveries fell to Rs1,344 crore from Rs1,647 crore a year ago.
“Slippages worth Rs4,853 crore came from the watchlist, which is now at around Rs25,951 crore. We expect 75-80% slippages from the watchlist going ahead. The watchlist is expected to come down by Rs5,000-7,000 crore in the coming months,” said SBI chairperson Arundhati Bhattacharya.
Andhra Bank Q2 result, net slumps 80% on higher NPA provisioning
Increased provisioning for bad loans pulled down net profit of public sector Andhra Bank by 80 percent to Rs 51.42 crore for the quarter ended September 30.
Andhra Bank had a net profit of Rs 251.26 crore in the same quarter of previous fiscal. Provisioning for bad loans increased to Rs 956.81 crore, up 82 percent from Rs 524.86 crore in the second quarter of the last fiscal, Andhra Bank said in a BSE filing.
Gross non-performing assets (NPAs) jumped to 11.49 percent at the end of September 2016, from 5.71 percent in the corresponding month last fiscal. Net NPA rose to 6.99 percent at the end of September 2016, from 2.95 percent at the end of September 2015.
Total income increased to Rs 5,042 crore at the end of second quarter from Rs 4,744 crore at the end of same period last year.
Bank of India Q2 result, Profit at Rs127 crore
State-owned Bank of India has reported a net profit of Rs126.84 crore for the second quarter ended September.
The bank had reported a net loss of Rs1,126.24 crore in July-September of 2015-16 on account of higher provision for bad loans as per RBI’s asset quality review guidelines. It had sold 18% in its joint venture Star Union Dai-ichi Life Insurance to the foreign partner.
“During the quarter, the bank has earned profit before tax amounting to Rs495 crore (Rs323.69 crore net of taxes) from sale of 18% stake in Star Union Dai-ichi Life Insurance Company Ltd (joint venture of the bank),” it said.
Total income stood at Rs11,469.11 crore for the quarter ended September 2016 whereas the figure was Rs11,317.97 crore for the same quarter of the previous fiscal, it said in a regulatory filing. A decrease in reserves towards bad loans in the form of provisions as well as contingencies at Rs2,296.22 crore for the quarter under review against Rs3,237.39 crore a year ago helped.
However, asset quality remained an issue as gross non-performing assets (NPAs) rose to 13.45% of gross advances at the end of September 2016, from 7.55% a year earlier. Net NPAs or bad loans were 7.56% of net advances for the period under review, up from 4.31% a year ago.
In absolute terms, gross NPAs stood at Rs52,261.95 crore as on September 2016, from the earlier Rs29,293.67 crore. Net NPAs were at Rs27,467.05 crore as against the previous Rs16,466.48 crore. The provision coverage ratio of the bank at the end of the second quarter stood at 55.23%, from 55.08% in the year-ago period.
Indian Bank Q2 profit rises 18% at Rs405 crore
Indian Bank on Wednesday reported 18.48% rise in net profit at Rs405.13 crore for the September quarter helped by sharp fall in provision for taxes.
The bank had registered a net profit of Rs341.92 crore in the corresponding quarter of the previous financial year. Its total income increased marginally to Rs4,579.01 crore during the second quarter of 2016-17, as against Rs4,551.26 crore in the same period a year ago, the state-owned bank said in a regulatory filing.
For the quarter under review, Indian Bank’s provision for bad loans and contingencies jumped by over three-fold to Rs478.27 crore as against Rs137.07 crore, a year ago.
Its provision for taxes in the second quarter of the current fiscal declined by 46.08% to Rs122.79 crore as against Rs229.12 reported in the same period a year ago.
Gross NPAs rose to 7.28% of gross advances as on 30 September 2016, up from 4.61% a year earlier. Net NPAs soared to 4.62% of net loans, from 2.60%, a year ago.
UCO Bank Q2 result, net loss at Rs 384.83 crore
UCO Bank today reported a net loss of Rs 384.83 crore for the quarter ended September 30, 2016, on account of higher provisions for bad loans.
The Bank had registered a net profit of Rs 156.2 crore in the July-September period of previous fiscal 2015-16.
Total income of the bank decreased by 6.90 percent to Rs 4,941.41 crore during the quarter under review, from Rs 5,308.08 crore over the same period of 2014-15.
For quarter under review, UCO Bank's provision for bad loans and contingencies jumped by 62.96 percent to Rs 1,488.34 crore as against Rs 913.27 crore a year ago.
Asset quality slipped further during the period with gross non-performing assets (NPAs) rising to 16.51 percent of gross advances as of September 2015, up from 8.51 percent a year ago. Net NPAs or bad loans too increased to 8.83 percent during the second quarter, up from 5.15 percent a year ago.
OBC Q2 result, net profit dips 49% to Rs 153 cr
State-owned Oriental Bank of Commerce (OBC) today reported 49.1 per cent dip in net profit to Rs 153.27 crore for second quarter ended September 30, 2016-17, on higher provisioning for bad loans. The bank's net profit stood at Rs 301.31 crore in the July-September quarter of 2015-16.
"Total income has decreased from to Rs 5,278.71 crore for the quarter ended September 30, 2016 as against Rs 5,454.13 crore in the same quarter of previous fiscal," the bank said in a regulatory filing.
Provisioning, a bulk of which is reserved to cover bad loans and contingencies, was raised to Rs 774.54 crore during the quarter, from Rs 589.42 crore parked aside by the bank in the same period of 2015-16.
The lender's asset quality slipped further with gross non-performing assets (NPAs) rising to 12.36 per cent of the gross advances as on September 2016 from 5.70 per cent a year ago.
Net NPAs or bad loans as a percentage of net advances as on September 2016, rose to 8.93 per cent as against 3.55 per cent. In absolute terms, gross NPAs amounted to Rs 18,382.53 crore from Rs 8,557.96 crore. Net NPAs were Rs 12,748.16 crore, up from Rs 5,189.10 crore.
United Bank Q2 result, profit down 30%
United Bank of India (UBI) on Monday reported a 30% fall in its net profit for the September quarter due to higher provisions against the bad loans and lower net interest income.
The bank reported a net profit of Rs.43.53 crore in the quarter, down from Rs.61.86 crore a year ago.
Net interest income (NII), or the core income a bank earns by giving loans, fell 41.07% to Rs.376.40 crore in the September quarter from Rs.638.72 crore a year ago.
Non-interest income increased 76.7% to Rs.661.20 crore from Rs.374.19 crore a year ago. The bank reported a tax writeback of Rs.7.97 crore against tax expenses of Rs.58.69 crore a year ago. Employee costs fell 26.6% to Rs.384 crore.
Gross non-performing assets (NPAs) at United Bank rose 10.07% to Rs.11,134.47 crore at the end of the September quarter from Rs.10,116.13 crore in the June quarter. On a year-on-year basis, gross NPAs jumped 82.17%. As a percentage of total loans, gross NPAs stood at 16.26% at the end of the September quarter as compared to 14.29% in the previous quarter and 8.9% in the year-ago quarter.
ICICI Bank Q2 result, net profit up
ICICI Bank Ltd, India’s biggest private-sector lender by assets, reported a 2.4% rise in second-quarter net profit on Monday, due to lower tax expenses while its provisions surged more than seven times.
Standalone net profit rose to Rs3,102 crore ($465 million) for the three months to 30 September from Rs3,030 crore a year earlier, well above the Rs2,565 crore average of 26 analyst estimates, according to Thomson Reuters data.
Bad loans as a percentage of outstanding loans rose to 6.82% at the end of September from 5.87% at the end of June.
Indian banks were saddled with $138 billion of stressed loans as of the end of June. While state-owned lenders account for bulk, ICICI has the highest proportion among private sector banks.
The amount of bad loans has surged this year after an asset quality review ordered by the Reserve Bank of India uncovered more than previously calculated.
The central bank has set a March 2017 deadline for the sector to fully disclose and make provisions for those.
ICICI’s provisions, which include charges for bad loans, jumped to Rs7,083 crore in the September quarter from Rs2,515 crore three months earlier and more than seven times higher than a year earlier.
Bank of Maharashtra Q2 result, posts loss at Rs337.15 crore on higher provisions
Bank of Maharashtra on Saturday reported a net loss of Rs.337.15 crore for the September quarter due to higher provisions against the bad loans. This was the third consecutive quarter when the bank reported a loss.
The bank reported a net loss of Rs.337.15 crore in the quarter against a net profit of Rs.72.03 crore from a year ago.
Net interest income (NII), or the core income a bank earns by giving loans, fell 12.8% to Rs.844.64 crore in the September quarter from Rs.969.12 crore a year ago.
Other income increased 15.03% to Rs.283.48 crore fromRs.246.45 crore in the year-ago period.
Gross non-performing assets (NPAs) at the bank rose 10.69% to Rs.14,433.90 crore at the end of the September quarter fromRs.13,039.63 crore in the June quarter. On a year-on-year basis, gross NPAs jumped 80.73% from Rs.7,986.34 crore. As a percentage of total loans, gross NPAs stood at 14.08% at the end of the September quarter as compared to 12.64% in the previous quarter and 7.98% in the year-ago period.
Provisions and contingencies fell 15.86% to Rs.708.86 crore in the quarter from Rs.842.50 crore a quarter ago. On a year-on-year basis, provisions jumped 69.19% from Rs.418.98 crore. Net NPAs were at 9.94% in the September quarter compared to 8.73% in the previous quarter and 5.59% in the year-ago period.
Total deposit rose 2.83% from a year ago to Rs.1.30 trillion while total advances rose 0.32% to Rs.9,768 crore.
Dena Bank Q2 result, Posts net loss Rs 44.32 crore
Dena Bank on Saturday reported a net loss in the September quarter due to higher provisions against the bad loans. However, the loss was restricted due to higher other income and a tax write back.
This was the fourth consecutive quarter when the bank reported a net loss. The bank reported a net loss of Rs 44.32 crore in the quarter from a net profit of Rs 38.76 crore a year ago.
Other income increased 38.79% to Rs306.77 crore from Rs221.03 crore a quarter ago. On year on year basis, other income jumped 60% from Rs191.76 crore. The bank reported a tax write back of Rs107.59 crore against Rs39.45 crore a year ago.
Net interest income (NII), or the core income a bank earns by giving loans, rose marginally 2.2% to Rs671.49 crore in the September quarter from Rs656.90 crore last year. A quarter ago, the bank reported 8.15% rise in NII from Rs620.88 crore.
Gross non-performing assets (NPAs) at Dena Bank rose 12.33% to Rs10824.50 crore at the end of the September quarter from Rs9636.32 crore in the June quarter. On a year-on-year basis, gross NPAs jumped 104.91% from Rs5282.62 crore. As a percentage of total loans, gross NPAs stood at 13.79% at the end of the September quarter as compared to 11.88% in the previous quarter and 6.84% in the year-ago quarter.
Allahabad Bank Q2 result, profit down 63% Rs 65 cr
Allahabad Bank 's net profit fell over 63 per cent to Rs 65.03 crore for the September quarter as the lender parked aside a significant amount to meet bad loans and contingencies, while income decreased.
The Kolkata-headquartered bank had registered a net profit of Rs 177.10 crore in the July-September quarter of the previo
As per RBI's guidelines on cleaning-up bad assets, lenders have been keeping aside higher amounts towards non-performing assets (NPAs) or bad loans, which is mainly responsible for majority of the public sector banks reporting lower profits or losses.
"In compliance with RBI directives on asset quality review (AQR), Bank has made incremental quarterly provision of Rs 41.46 crore (Rs 87.80 crore in the half year at 5 per cent of the outstanding amount) in CDR restructured standard accounts for the quarter ended September 30, 2016," it said. For quarter under review, Allahabad Bank's provision for bad loans and contingencies was up at Rs 814.40 crore, as against Rs 703.10 crore a year ago.
Gross NPAs rose to 12.28 per cent of gross advances as on September 30, 2016, up from 5.26 per cent a year earlier. Net NPAs soared to 8.59 per cent of net loans, from 3.61 per cent year ago. In absolute terms, gross NPAs were at Rs 19,094.53 crore against Rs 7,985.75 crore. While, net NPAs were at Rs 12,800.45 crore, up from Rs 5,359.90 crore.
PNB Q2 result, Profit down 11% at Rs549 crore as bad loans rise
State-owned lender Punjab National Bank on Saturday reported a net profit of Rs549 crore in the second quarter of the current fiscal, a fall of 11% from the Rs621 crore profit recorded in the corresponding year ago period.
Asset quality pressures persisted in the quarter with gross non performing assets (NPA) zooming to 13.63% from 6.36% in the year ago period. Net NPAs also rose to 9.10% in the September ended quarter as against 3.99%.
However, both on terms of absolute numbers and percentages, the asset quality of the bank has improved when compared to the immediate preceding quarter. The bank had reported a gross NPA of 13.75% and a net NPA of 9.16% in the quarter ended June.
Indian banks have reported huge losses and surge in bad debts in the last couple of quarters after the Reserve Bank of India (RBI) asked banks to recognize more loans as non performing and set aside more funds as provisions after an asset quality review. State run banks that have reported their results so far this quarter continue to face asset quality pressures that is impacting their profitability.
Total provisions made by the bank in the September ended quarter rose to Rs2,533 crore from Rs1,882 crore in the same period last year. Of this, provision for NPAs also rose to Rs2,217 crore from Rs2,031 crore.
Net interest income also declined 10% to Rs3,880 crore from Rs4,322 crore. Other income, however, rose 76% to Rs2,388 crore from Rs1,357 crore.
Central Bank of India Q2 result, Posts Rs642 crore loss as bad loans rise
Central Bank of India on Friday reported a net loss of Rs641.82 crore for the quarter ended 30 September because of higher provisions against bad loans and a drop in net interest income.
The state-owned lender had reported a net profit worth Rs112.87 crore in the same quarter a year ago.
The loss would have been bigger but for a Rs164.5 crore writeback on tax provisions. In the same quarter last year, Central Bank of India had provided Rs89.29 crore for tax.
Provisions against bad loans rose sharply to Rs1,161.21 crore from Rs645.44 crore last year. Gross non-performing assets (NPAs) rose 2.4% from the preceding quarter to Rs25,718 crore.
Gross NPAs made up 13.7% of the loan book, up from 13.52% in the June quarter. Net NPAs were stable sequentially at 8.17% of the loan book.
Net Income Income (NII), or the difference between interest earned on loans and those paid on deposits, came in at Rs1,693.4 crore, down 11.5% from a year ago. Non-interest income rose to Rs776.64 crore from Rs473.25 crore a year ago.
Union Bank of India Q2 result, Profit dips 73% at Rs176 crore
Public sector lender Union Bank of India on Friday said its net profit fell by 73.2% to Rs176.67 crore for the second quarter ended 30 September, 2016, due to higher provisions for bad loans. The bank had reported a net profit of Rs658.16 crore for the same quarter in the previous fiscal.
“Total income has increased to Rs9,347.58 crore for the quarter ended 30 September, 2016, from Rs9,100.90 crore for the same quarter a year ago,” it said in a regulatory filing.
Bank’s provisions for bad loans and contingencies spiked over three-times to Rs1,620.29 crore for the quarter from Rs432.51 crore in the year-ago period. The shares of Union Bank of India closed at Rs134.35, 1.97% down on BSE on Friday.
The gross non-performing assets (NPAs) increased to 10.73% of the gross loans as on September 2016, from 6.12% year ago. Value-wise, gross NPAs were Rs29,862.05 crore, up from Rs15,541.17 crore.
Net NPAs or bad loans were 6.39% of the net advances as on 30 September as against 3.39% year ago. In absolute terms, net NPAs stood at Rs16,947.89 crore as on September 2016, compared with Rs8,334.86 crore from a year earlier.
State Bank of Hyderabad Q2 result, Posts net loss of Rs776.64 crore
State Bank of Hyderabad reported a net loss of Rs776.64 crore for the quarter ended 30 September, due to higher provisions against bad loans. The bank reported a net profit of Rs375.31 crore in the same quarter a year earlier.
Provisions and contingencies surged 755% to Rs2,074.94 crore in the July-September quarter from Rs242.70 crore a year earlier. The loss during the second quarter was restricted due to a tax write-back of Rs197.12 crore against tax expenses of Rs189.87 crore a year ago.
This is one of the biggest losses reported by an associate bank of the State Bank of India (SBI). In the April-June period, State Bank of Travancore had reported a loss of Rs743 crore due to deteriorating asset quality concerns.
The drop in profitability of associate banks might be a result of the impending merger with State Bank of India, which has been approved by all of them. In August, the respective boards of SBI, State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Travancore, State Bank of Hyderabad and Bharatiya Mahila Bank had all approved the mega merger, which will create a large banking conglomerate in India. According to a Mint analysis, this will put SBI in the ranks of the top 50 lenders in the world.
The associate banks reported large losses as a direct result of the asset quality review (AQR) conducted by RBI in the October-December period last year, SBI management had stated earlier.
Karur Vysya Bank Q2 result, Profit declines 11%
Karur Vysya Bank Limited (KVB) saw second quarter profit fall 11.2% to Rs 126.31 crore from last year as expenses at the private lender rose.
Despite the bank's total income increasing 2.6% to Rs 1,611 crore, expenses shot up by 6.3% to Rs 1,291.3 crore. Karur Vysya saw its bad loans increase for the second quarter, but set aside less money to cover its losses.
Gross non-performing assets (NPAs) as a percentage of advances rose to 2.29% from 1.79%; and the bank decreased its Q2 provision against loan losses 5.4% to Rs 119.2 crore from Rs 126 crore in the year-ago.
The bank's Basel II capital adequacy ratio (CAR) also reduced to 11.48% from 13.10% last year. Return on assets - which indicates a bank's profitability measured against its assets - fell to 0.86% from 1.03%.In its financial statement, Karur Vysya said it has made provisions for Rs 35.52 crore; which is 15% of the food credit availed by the state government of Punjab on March 31, 2016. During the half year, excess provision of Rs 9.43 crore was written back.
Securities amounting to Rs 106.76 crore were shifted to held for maturity (HTM) category from available for sale (AFS). And Rs 406.31 crore was shifted to AFS from HTM, resulting in a depreciation of Rs 0.93 crore.
The bank also sold bad loans to asset recovery companies of which Rs 126.38 crore was charged for this fiscal; amounting to Rs 63.19 crore for the current quarter. The balance carried over was Rs 311.45 crore, said the bank.
Karur Vysya also set aside Rs 41.83 crore to cover frauds this fiscal; amounting to Rs 15.55 crore for the current quarter).
