Bank of Maharashtra Q1 Result, Loss at Rs 397 cr

Bank of Maharashtra on Friday reported a net loss of Rs.397.40 crore for the June quarter against a net profit of Rs.59.44 crore a year ago.
Four other banks—namely Dena Bank, Central Bank of India, Bank of India, and Allahabad Bank—also reported a net loss on Friday.
Net interest income, or the core income a bank earns by giving loans, declined sharply to Rs.864.49 crore for the June quarter from Rs.1,023.2 crore a year ago.
Gross non-performing assets (NPAs) rose to Rs.13,039.63 crore in the first fiscal quarter from Rs.7,574.86 crore a year ago.
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Oriental Bank of Commerce Q1 Result, Profit falls 61% to Rs100 crore

Oriental Bank of Commerce Bank on Friday reported a 60.94% decrease in its first quarter net profit.
Net profit declined to Rs.100.69 crore in the quarter ended 30 June from Rs.257.84 crore a year ago on account of higher provisions and lower operating profit.
Provisions increased to Rs.750.40 crore for the June quarter compared to Rs.577.65 crore last year, while operating profit declined from Rs.1,044.49 crore last June to Rs.917.09 crore this June.
Out of total provisions, the bank provided outstanding provision of Rs.36.04 crore for a loan availed by the government of Punjab under the food credit program in the first quarter for which the outstanding amount was Rs.740 crore as on 30 June.

The provision coverage ratio for the bank stood at 49.33% for the June quarter.
According to a Bloomberg poll of six analysts, the bank was expected to post a net profit of Rs.91.56 crore for the June quarter.
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Allahabad Bank Q1 Result, Posts Rs 564.96 crore loss

Allahabad Bank on Friday reported a Rs.564.96 crore net loss for the quarter ended June against a Rs.146.86 crore net profit a year ago.
The bank made provisions of Rs.1,330.78 crore for the quarter compared with Rs.854.79 crore a year ago. Its operating profit declined to Rs.967.44 crore in the April-June period from Rs.1,241.50 a year ago. Loan provision coverage ratio stood at 46.03% as on 30 June.
According to a Bloomberg poll of four analysts, the bank was expected to post a net loss of Rs.15.27 crore for the June quarter.
Net interest income decreased to Rs.1,393.2 crore for the June quarter compared with Rs.1,587.11 crore a year ago.
Gross non-performing assets (NPAs) rose to Rs.19,208.62 crore from Rs.7,987.44 crore a year ago.
As a percentage of total loans, gross NPAs stood at 12.33% at the end of the quarter, compared with 9.76% in the previous quarter and 5.29% in the year-ago quarter. Net NPAs stood at 8.69% for fiscal first quarter compared with 3.67% last year.
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Dena Bank Q1 result, Net loss at Rs 279 crore

Dena Bank on Friday reported a net loss of Rs.279.35 crore in the June quarter against a net profit of Rs.15.16 crore a year ago as it set aside more money to cover bad loans.
Operating profit increased to Rs.270.44 crore in the three months from Rs.226.30 crore in the same period last year.
Provisions increased to Rs.666.85 crore in the fiscal year first quarter from Rs.324.75 crore a year ago. The provision coverage ratio was 52.13%.
Out of total provisions, the bank set aside Rs.19.03 crore for a loan availed by the government of Punjab under its food credit programme. The outstanding loan amount stood at Rs.397.21 crore as of 30 June.
Net interest income decreased slightly to Rs.620.88 crore in the quarter from Rs.628.19 crore a year ago.
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State Bank of India Q1 Result, Profit drops 31.72 per cent at Rs 2520.96 cr


State Bank of India reported 31.7 per cent year-on-year (YoY) drop in the standalone net profit for the quarter ended June 30 to Rs 2,520 crore was higher than ETNow estimate of Rs 2,475 crore. The largest public sector bank had reported a net profit of Rs 3,692.43 crore in the corresponding quarter of last financial year. 


Net interest income (NII): Net interest income (NII) or the difference between revenue earned from the bank's assets and the expenses associated with paying out liabilities rose 6.4 per cent on a year-on-year basis (YoY) to Rs 14,612 crore for the quarter ended June 30. SBI reported NII of Rs 13,732 crore in the year-ago period. 

Provisions: Net profit slipped after provisions for the quarter ended June 30 rose on a YoY basis. Total provisions for the quarter were recorded at Rs 7,410 crore, compared with Rs 4,000 crore on a YoY basis. 


Provisions for bad loans stood at Rs 6,340 crore, which were higher than Rs 3,360 crore in the previous quarter, the bank said. Fresh slippages for the quarter stood at Rs 87,904 crore while the provision coverage ratio stood at 61.57 per cent. 



Gross NPA: The bank said it non-performing assets (GNPAs) stood at 6.94 per cent in the first quarter, compared with 6.5 per cent in the fourth quarter of FY16. 
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Central Bank of India Q1 Result, report loss of Rs 600 cr

Central Bank of India on Friday reported a net loss of Rs.600 crore for its first quarter compared to a net profit of Rs.203.60 crore a year ago as the bank had to set aside more money against bad loans. Provisions more than doubled to Rs.1,543.86 crore compared to Rs.580.75 crore a year ago.

Gross non-performing assets (NPAs) almost doubled from a year ago to Rs.25,107.47 crore at the end of June. As a percentage of total loans, gross NPAs were at 13.52% at the end of the June quarter compared with 11.95% three months ago.
Net interest income, or the core income a bank earns by giving loans, decreased to Rs.1,658.94 crore compared toRs.1,844.14 crore a year ago.
Capital adequacy ratio stood at 9.91% for the quarter, according to Basel III norms.
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Bank of India Q1 Result,posts loss of Rs 741 crore

Bank of India on Friday reported a net loss of Rs.741.36 crore in the June quarter against a profit of Rs.129.72 a year ago.
As a result, Bank of India’s provisions increased toRs.2,770.19 crore this quarter compared to Rs.5,470.36 crore last quarter and Rs.1,514.73 crore a year ago.
Provision coverage ratio stood at 53.06% for the quarter ended in June.
“The bank was required to make phased prudential provisions on corporate debt restructuring cases at 2.50% per quarter. However, the bank has made additional provision of Rs.110.33 crore representing the remaining balance of next three quarters,” Bank of India said in its notes to the profit and loss account.
According to a Bloomberg poll of 14 analysts, the bank had been expected to post a net loss of Rs.387.8 crore for the June quarter.
Net interest income, or the core income a bank earns by giving loans, decreased marginally to Rs.2,802.17 crore this quarter compared to Rs.2,912.68 crore a year ago.
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