Bank of India(BOI) invites investors’ ire as asset quality worsens

If there is an example of how merciless investors can be at times, the over 11% fall in Bank of India’s stock on Monday is proof enough. And why shouldn’t they be? The sixth largest lender by assets reported the third largest quarterly loss among public sector banks for the fourth quarter of fiscal year 2017.

Although its bad loan ratios show an improvement, asset quality has worsened in the March quarter. Gross bad loans were 13.22% of loan book, down marginally compared to the previous quarter and net bad loan ratio also fell to 6.9%.

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Bad loans of SBI’s associate banks weigh on fourth quarter results

State Bank of India’s (SBI’s) strong performance in the fourth quarter has failed to cheer investors because of the large stock of bad loans of its associate banks that the bank inherited after their merger with it.

Shares of SBI, India’s largest lender, closed at Rs294.40 each at close on BSE, 4.46% lower than their previous close.

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Quarterly Results of Banks for Q4 2017

Public Sector Banks :

Allahabad Bank

Andhra Bank

Bank of Baroda

Bank of India

Bank of Maharashtra

Canara Bank

Central Bank of India

Corporation Bank

Dena Bank

IDBI Bank

Indian Bank

Indian Overseas Bank

Oriental Bank of Commerce

Punjab & Sind Bank

Punjab National Bank

State Bank of India

Syndicate Bank

UCO Bank

Union Bank of India

United Bank of India

Vijaya Bank

Private Sector Banks : 

Axis Bank

Bandhan Bank

DCB Bank

Dhanlaxmi Bank

Federal Bank

HDFC Bank

ICICI Bank

IDFC Bank

IndusInd Bank

Jammu & Kashmir Bank

Karnataka Bank

Kotak Mahindra Bank

Karur Vysya Bank

Lakshmi Vilas Bank

RBL Bank

South Indian Bank

Yes Bank

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Bank of India(BOI) Q4 result,net loss narrows to Rs1,045.54 crore

Bank of India(BOI) on Monday said that it reported a net loss of Rs1,045.54 crore for the March quarter on the back of lower provisions and higher other income. The losses have narrowed down compared to last year when the loss reported was Rs3,587.11 crore for the same period.

According to 12 analysts of Bloomberg, the bank was expected to post a loss of Rs45.90 crore.

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Corporation Bank Q4 result, profit at Rs159.98 crore

Corporation Bank on Saturday said it posted a profit in March quarter against a loss last year same quarter due to lower provisions and higher other income.

Net profit for the quarter stood at Rs159.98 crore against a loss of Rs510.97 crore from a year ago. The bank got tax write-back of Rs53.44 crore against Rs724.32 crore last year. Provisions declined 51.64% to Rs948.01 crore from Rs1,960.21 crore on year on year basis.

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State Bank of India(SBI) Q4 result, profit rises 122.7% to Rs2,814 crore

Largest bank in India State Bank of India(SBI) on Friday said its net profit for the March quarter jumped 122.7% from a year ago due to higher net interest income and lower provisions.

Net profit for the quarter rose to Rs2,814.82 crore from Rs1,263.81 crore a year ago. According to estimates of 20 Bloomberg analysts, the bank expected to post a net profit of Rs2,791 crore.

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United Bank of India Q4 result, posts profit at Rs 74 cr

State-owned United Bank of India today reported a profit of Rs 73.56 crore for the quarter ended March as provision for bad loans declined. In contrast, the bank had reported a loss of Rs 413.04 crore in the same period a year ago.

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Bank of Baroda (BoB) Q4 result, posts profit of Rs 155 crore

State-run Bank of Baroda(BoB) on Thursday reported a profit of Rs154.72 crore for the March quarter as provisions for bad loans witnessed significant decline. The bank had reported a huge loss of Rs3,230.14 crore in the same period a year ago.

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