PSU Bank Employees may get good news of Wage Revision

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We have been receiving a number of anxious queries from our affiliates/members regarding the news item about conclusion of bipartite talks. We wish to make it abundantly clear that there has not been any progress in the bipartite talks. As such, the news item is totally baseless and should not be given any cognizance.

Sunil Kumar, Chairman, AIBOC

Debasis Ghosh, President, AIBOC

Soumya Datta, General Secretary, AIBOC

IDBI Bank Q1 loss widens, asset quality improves

IDBI Bank on Wednesday said its loss for the June quarter widened to Rs 3,801 crore from Rs 2.410 crore a year ago, along with a decline in interest income.

The lender said its net interest income was at Rs 1,458 crore for the first quarter of fiscal year 2020 as against Rs 1,639 crore last year. The banks’ net interest margin was at 2.13 per cent compared with 2.17 per cent.

IDBI Banks’ gross NPA ratio improved to 29.12 per cent as on June 30 against 30.78 per cent as on June 30, 2018.

Net NPA ratio improved to 8.02 per cent from against 18.76 per cent as on June 30, 2018 and 10.11 per cent as on March 31, 2019.

Net NPAs reduced to Rs 10,963 crore from Rs. 29,981 crore last year.

Provision Coverage Ratio (PCR-including technical write-offs) improved to 87.79 per cent from 64.45 per cent.

Recovery from technically write off accounts improved to Rs 79 crore in against Rs 69 crore. First Time NPAs reduced by 55 per cent from Rs 7,799 crore in Q1-2019 to Rs 3,486 crore.

Quarterly Financial Results of Public & Private sector banks for Q1FY20


NEFT to be available 24x7 from December 2019: RBI

In a move that gives a big thrust to online fund transfers, the Reserve Bank of India (RBI) today announced that the National Electronic Funds Transfer (NEFT) systems would be available on a 24x7 basis from December 2019.

At present, the NEFT payment system operated by the Reserve Bank as a retail payment system is available to customers from 8am to 7pm on all working days of the week (except 2nd and 4th Saturdays, and all Sundays of the month).

The Chief digital officer of a private bank, requesting anonymity, said, “These days 70-80 per cent of the bank’s customer transactions are taking place digitally. So, this is a positive step from the central bank to boost digital banking transactions as mentioned in the Payment System Vision 2021 document.”

In June, during the second monetary policy meeting, the Reserve Bank of India (RBI) announced the removal of charges levied by the Central Bank for transactions processed in the Real Time Gross Settlement System (RTGS) and National Electronic Funds Transfer (NEFT) systems. It became effective from July 1.

However, there was a misconception among customers that, effective July 1, there will be no charges on RTGS and NEFT based money transfers online. It boils down to there being two major cost components. First is what the RBI used to charge banks for the online transfer facility and the second being banks' own costs while offering the option to customers. RBI had waived the first component. It is up to the banks to decide if they wish to remove or retain the second cost component.


Uco Bank Q1 result, net loss narrows

State-owned UCO Bank on Thursday reported narrowing of its net loss to Rs 601.45 crore for the first quarter ended June 30, as bad loan provisioning declines. 

The bank had posted a net loss of Rs 633.88 crore in the corresponding April-June period of the previous financial year. 

Its total income in the June 2019 quarter rose to Rs 4,446.61 crore as against Rs 4,360.88 crore in the year-ago quarter, the bank said in a regulatory filing. 

The bank’s asset quality witnessed slight improvement, with the gross non-performing assets (NPAs) standing at 24.85% of the gross advances as at the end of June 2019, as against 25.71% a year ago. 

Net NPAs stood at 8.98%, down from 12.74%. In terms of absolute value, the gross NPA was Rs 29,431.60 crore, compared with Rs 29,786.41 crore in the year-ago period. Net NPAs were Rs 8,781.97 crore by the end of the first quarter this fiscal, as against Rs 12,558 crore a year ago. 

Thus, there was a decline in provisions for bad loans for the quarter at Rs 1,374.97 crore, against Rs 2,038.33 crore in the corresponding period a year ago. The overall provisions and contingencies stood at Rs 1,802.89 crore, compared with Rs 1,781.28 crore a year ago.

City Union Bank Q1 net profit rises 15%

Private sector lender City Union Bank (CUB) has reported a 15 per cent increase in its net profit at ₹186 crore for the quarter ended June 30, 2019 as against ₹162 crore in a year-ago period.

Its operating profit grew 17 per cent at ₹351 crore as against ₹299 crore on the back of higher net interest income, which grew 11 per cent at ₹417 crore (₹375 crore ).

The other operating income rose 26 per cent at ₹163 crore (₹129 crore).

However, asset quality saw some set back with its gross NPA increasing to 3.34 per cent as of June this fiscal from 3.02 per cent in the previous year’s quarter. The net NPA increased to 1.89 per cent from 1.70 per cent during the same period.

Advances grew 14 per cent to ₹32,229 crore (₹28,215 crore as of June 2018), while total deposits went up by 16 per cent to ₹39,077 crore (₹33,597 crore).

CASA (current account savings account) increased by 14 per cent to ₹9161 crore from ₹8,038 crore and the CASA ratio stood at 23 per cent of total deposits.

The provision coverage ratio stood at 65 per cent as on June 30, 2019. The bank’s return on assets stood at 1.63 per cent during the first quarter of this fiscal.

Punjab & Sind Bank Q1 result, net loss narrows

Punjab & Sind Bank on Wednesday said its first quarter net loss narrowed on the back of lower provisioning and higher other income.
The bank posted a net loss of Rs.30 crore for the three months ended 30 June compared to a loss of Rs.398 crore in the year-ago period.
Provisions during the quarter decreased 67.37% to Rs.334.5 crore as against Rs.1,025 crore in the year-ago quarter. In the January-March quarter, the bank had set aside Rs.433.76 crore in provisions.
Other income, which includes core fee income, increased 10.39% to Rs.167 crore in the quarter as compared to Rs.151.25 crore a year ago.
Net interest income, or the difference between interest earned on loans and that paid on deposits, decreased 20.14% to Rs.567.59 crore from Rs.710.73 crore in the corresponding period last year.
Gross non-performing assets (NPAs), as a percentage of total advances, were at 12.88% in the June quarter compared with 11.83% in the March quarter and 10.55% in the year-ago June quarter.
Post-provision, the net NPA ratio was at 7.77% as against 7.22% in the January-March quarter and 5.92% in the year-ago quarter.

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