Public Sector Banks :
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Quarterly Financial Results of Public & Private sector banks for Q4FY20
Private Sector Banks :
Private Sector Banks :
Central Bank of India net loss narrows to ₹1,529 crore in Q4
Public sector lender Central Bank of India's net loss narrowed in the March quarter to ₹1,529 crore owing to a substantial decrease in provisioning and higher net interest income (NII).
The bank had posted a net loss of ₹2,477.41 crore in the same period a year ago. In the December quarter, the bank had made a profit of ₹155.32 crore.
The bank had set aside provisions of ₹2,178.33 crore during the quarter under review, of which provisions for bad loans stood at ₹1,583.25 crore. Its total provisions were down 53.98% from ₹4,733.82 crore parked aside for the year-ago period.
Total income during the quarter under review was at ₹6,723.73 crore as against ₹6,620.51 crore in the year-ago period, Central Bank of India said in a regulatory filing.
The bank's net interest income (NII) was at ₹1,925.81 crore, up 20.18% from ₹1,602.46 crore in Q4 of FY19. Other income fell 30.52% to ₹794.68 crore for the quarter ended 31 March, against ₹1,143.69 crore for the same quarter last year.
Its gross non-performing assets (NPAs) of the bank stood at 18.92% of gross advances as at March-end, down from 19.29% in the year-ago period. The bank's net NPAs were at 7.63%, down from 7.73%.
Central Bank of India's total deposits were up 4.64% to ₹3.14 trillion for the year ended 31 March against ₹3 trillion a year ago. Its advances grew 3.12% to ₹1.51 trillion as on 31 March 2020, over ₹1.47 trillion for the same period last year.
Indian Overseas Bank(IOB) posts net profit in Q4
IOB's net profit was at Rs 144 crore in the quarter to March compared with Rs 199 crore net loss in the year ago period.
"Making profit will not be a one-off thing. This is going to be sustainable," IOB chief executive Karnam Sekar said after the release of the bank's quarterly earnings. He said that provision coverage ratio was at 87 percent at the end of the reporting period March from 71 percent a year back, and therefore future provision requirement would come down.
Sekar is slated to hang up his boots at the end of June while State Bank of India's deputy managing director Partha Pratim Sengupta's is tipped to succeed him.
The bank's operating profit marginally rose to Rs 1144 crore compared with Rs 1132 crore in period under review while steep fall in provisioning to Rs 1060 crore from 4502 crore helped the bank to be back in black.
Its gross advances shrunk to Rs 1.35 lakh crore at the end of March against Rs 1,52 lakh crore a year back, The CEO said that its lending very selectively and not taking fresh exposures in stressed sectors.
"The situation continues lo be uncertain and the bank ls closely monitoring the situation," the bank said in its regulatory filing to stock exchanges.
Its gross NPA ratio improved to 14.78 percent as on March, down from 17.12 percent a quarter back while the net ratio improved further to 5.44 percent from 5.81 percent in the same period.
IOB has restructured 19043 MSME accounts and treated them as standard assets aggregating to Rs 694 crore as on Morch 31. It has also made an adhoc provision of Rs 460 crore towards revision of wages which is due since November 2017.
Uco bank posts net profit in Q4
The Kolkata-headquartered lender had posted net loss of ₹1,552.03 crore during January-March quarter of 2018-19.
Sequentially also, there was a net loss of ₹960.17 crore in third quarter of 2019-20.
Income during the March quarter increased to 4,511.21 crore, from ₹4,148.52 crore in same period of preceding fiscal, UCO Bank said in a regulatory filing.
Bank's provisioning for bad loans and contingencies fell to ₹1,199.82 crore during the quarter as against ₹2,242.58 crore in the year-ago period.
For the full FY20, the bank trimmed on its net loss to ₹2,436.83 crore, compared to ₹4,321.08 crore loss in FY19. Income for the year increased to ₹18,005.55 crore as against ₹15,844.14 crore.
On asset front, the lender improved its gross non-performing assets (NPAs) to 16.77 per cent of the gross advances as on March 31, 2020, compared to 25 per cent in March 2019.
In absolute value, bank's gross NPAs stood at ₹19,281.95 crore as against ₹29,888.33 crore.
Net NPAs came down to 5.45 per cent ( ₹5,510.65 crore) from 9.72 per cent ( ₹9,645.92 crore).
UCO Bank said that in terms of the Supreme Court order and necessary guidelines issued by Reserve Bank of India (RBI), it has kept Delhi Airport Metro Express Pvt Ltd "DAMEPL" as standard account.
The bank said it has not treated a loan amount of ₹194.14 crore as NPA against DAMEPL. However, provision of ₹48.54 crore has been made, as required.
On divergence in asset classification and provisioning in terms of Risk Assessment Report (RAR) of the RBI for the year ended March 31, 2019, the bank said there was a gap of ₹1,217.42 crore in gross NPA reported by it, which was assessed by the RBI.
Bank has made full provision against the said divergence, it added. Thus, counting on the divergence, the bank said its net loss for FY19 widened to ₹5,225.53 crore as against ₹4,321.09 crore reported earlier.
The non-performing loan provisioning coverage ratio is 85.46 per cent as on March 31, 2020 as against 74.93 per cent a year earlier.
The bank has reported two loan accounts under Borrowal Fraud category to the RBI in the first quarter of 2020-21, and amount outstanding was ₹581.59 crore as on March 31, 2020, it said.
"The accounts were already under NPA category and provision amounting to ₹282.64 crore is held in the account as at March 31, 2020.
"Bank has made additional provision of ₹74.73 crore (25 per cent of remaining provision) as on March 31, 2020 and the remaining amount of ₹224.22 crore has been charged to Reserves and deferred for adjustment in subsequent quarters," UCO Bank said.
Bank of India Q4 Result : Posts net loss of 3571 cr
Bank of India slumped 8.93% to Rs 50 after reporting net loss of Rs 3,571.41 crore in Q4 March 2020 compared with net profit of Rs 251.79 crore in Q4 March 2019.
Total income fell 0.63% to Rs 12,215.78 crore in Q4 March 2020 over Q4 March 2019. Pre-tax loss stood at Rs 5489.36 crore in Q4 March 2020 compared with pre-tax profit of Rs 405.75 crore in Q4 March 2019. The Q4 earnings was announced during market hours today, 25 June 2020.
The net profit was impacted by higher provisioning. Provisions and contingencies surged 329.10% to Rs 8,141.92 crore in Q4 March 2020 as against Rs 1,897.43 crore in Q4 March 2019. Provision coverage ratio stood at 83.75% as on 31 March 2020.
Gross non-performing assets (NPAs) stood at Rs 61,549.93 crore as on 31 March 2020 as against Rs 61,730.54 crore as on 31 December 2019 and Rs 60,661.12 crore as on 31 March 2019. The ratio of gross NPAs to gross advances stood at 14.78% as on 31 March 2020 as against 16.30% as on 31 December 2019 and 15.84% as on 31 March 2019. The ratio of net NPAs to net advances stood at 3.88% as on 31 March 2020 as against 5.97% as on 31 December 2019 and 5.61% as on 31 March 2019.
The CASA level increased from Rs 1,81,765 crore in March 2019 to Rs. 1,97,751 crore in March 2020, i.e. with a growth of 8.79%. The CASA ratio stood at 41.50% in March 2020.
The bank said that the COVID-19 crisis has resulted in significant volatility and decline in the global and local economic activities. The situation continues to be uncertain and the bank is evaluating the situation on ongoing basis. The major challenge for the bank would arise from volatility in cash flows. Despite these events and condition, there would not be any significant impact on banks results in future and on the going concern assumption.
Bank of India provides a wide range of banking products and financial services to corporate and retail customers. The Government of India holds 89.1% stake in Bank of India as on 31 March 2020.
Indian Bank Q4 results: Posts net loss of Rs 218 crore
Public sector lender Indian Bank has slipped into the red in the fourth quarter with Rs 218 crore net loss on account of higher provisions. It had made profits in the previous three quarters while suffered Rs 190 crore loss in the year ago period.
Its operating profit rose 37 per cent at Rs 1,703 crore compared with Rs 1,245 crore in the year ago period. Total income rose 14 per cent at Rs 6,334 crore over Rs 5,538 crore with net interest income growing at the same rate at Rs 2,003 crore.
The year-on-year loss widened due to 34 per cent higher provisions and contingencies which was seen at Rs 1,921 crore, the bank said.
The bank has shown improvement in asset quality with gross non-performing assets ratio falling to 6.9 per cent at the end of March from 7.11 per cent, while the net ratio was at 3.1 per cent from 3.75 per cent.
Its total business grew 8 per cent to Rs.4.66 lakh crore, contributed by 19 per cent credit growth to Rs.2.06 lakh crore and 7 per cent deposits growth to Rs 2.60 lakh crore. Growth in advances was led by the retail sector which grew 16 per cent and well supported by agriculture and the MSME sector with a growth of
14 per cent and 13 per cent respectively.
Allahabad Bank was merged with Indian Bank effective from April.
"The amalgamated entity would leverage on the combined strengths of both the banks to post impressive growth in FY21," Indian Bank chief executive Padmaja Chunduru said.
Union Bank of India Q4 net loss narrows
State-owned Union Bank of India on Tuesday reported narrowing of its standalone net loss to Rs 2,503.18 crore in the fourth quarter ended March 2020.
The bank had posted a net loss of Rs 3,369.23 crore during the same quarter of the previous financial year. Sequentially, there was a net profit of Rs 574.58 crore in the third quarter of 2019-20.
Standalone income during the March 2020 quarter rose to Rs 11,306.99 crore from Rs 9,621.01 crore a year ago, the bank said in a regulatory filing.
Its provisioning for bad loans and contingencies in April-March 2020 fell to Rs 3,501.69 crore, compared with Rs 5,766.15 crore in the year-ago period.
For the full financial year 2019-20, Union Bank posted a standalone net loss of Rs 2,897.78 crore, down as compared with a loss of Rs 2,947.45 crore a year ago.
Income during the year, however, rose to Rs 42,491.91 crore from Rs 38,540.61 crore in the previous financial year.
On the asset front, the bank witnessed improvement with the gross non-performing assets (NPAs) coming down to 14.15 per cent of the gross advances as on March 31, 2020, from 14.98 per cent by the end of March 2019.
In absolute value, gross NPAs or bad loans stood at Rs 49,085.30 crore by the end of 2019-20, against Rs 48,729.15 crore a year ago.
Net NPAs fell to 5.49 per cent (Rs 17,303.14 crore) from 6.85 per cent (Rs 20,332.42 crore).
The amalgamation of Andhra Bank and Corporation Bank with Union Bank of lndia was effective April 1, 2020.
"Accordingly, the bank, as a prudential measure, has made harmonisation provisioning in its books of accounts for the position as on March 31, 2020, with regard to impact of divergence in asset classification across Union Bank of India, Andhra Bank and Corporation Bank as per extant norms," it said.
The lender added that it has made an additional harmonisation provision for the quarter and year ended March 31, 2020, amounting to Rs 2,509.98 crore and the same is disclosed as exceptional items in the financial results.
With the amalgamation of Andhra Bank and Corporation Bank, Union Bank has become the fifth-largest public sector bank in the country and has an enhanced business mix having a total business of Rs 15 lakh crore and 120 million customer base.
Its gross advances stood at around Rs 6.50 lakh crore as on March 31, 2020.
Canara Bank Q4 result, net loss widens
The bank had registered a net loss of Rs 551.53 crore during the corresponding January-March 2019 quarter.
However, income on a standalone basis during January-March rose to Rs 14,222.39 crore, compared with Rs 14,000.43 crore in the year-ago period, Canara Bank said in a regulatory filing.
The lender made a huge provisioning of Rs 5,375.38 crore for the March 2020 quarter, even as it was lower than the Rs 5,523.50 crore parked aside for corresponding period of 2018-19.
For the full year 2019-20, there was a loss of Rs 2,235.72 crore during 2019-20. The public sector bank had posted a net profit of Rs 347.02 crore in 2018-19.
On asset quality, gross non-performing assets (NPAs) continued to remain at an elevated level of 8.21 per cent at the end of March 2020, slightly better than 8.83 per cent by the end of March 2019.
In value terms, the gross NPAs or bad loans of the bank stood at Rs 37,041.15 crore as on March 31, 2020, vis-a-vis Rs 39,224.12 crore in the year-ago period.
Net NPAs were, however, trimmed substantially to 4.22 per cent (Rs 18,250.95 crore) from 5.37 per cent (Rs 22,955.11 crore).
Provision coverage ratio as on March 31, 2020, stood at 75.86 per cent, compared with 70.97 per cent as on December 31, 2019, and 68.13 per cent as on March 31, 2019, it said.
The amalgamation of Syndicate Bank into Canara Bank was effected on April 1, 2020. In this connection, the Reserve Bank of India, with a view to obviating future build-up of stresses in the bank, advised Canara Bank to ensure a harmonisation provision as on March 31, 2020, with respect to the impact of divergence in asset classification across both the banks, it said.
Accordingly, based on the harmonisation process carried out by Canara Bank, the bank made the changes in asset classification and provisioning as per extant norms as at the year-end.
"The harmonisation process as above has resulted in increase in gross NPA by Rs 532.63 crore and increase in NPA provision by Rs 340 crore during the year ended on March 31, 2020," Canara Bank said.
Further, the Bengaluru-headquartered lender said it has availed option for deferment of provision in respect of frauds reported for Rs 2,349.59 crore requiring additional provision of Rs 1,989.26 crore in terms of option available as per the RBI circular.
Accordingly, an amount of Rs 497.31 crore has been charged to profit and loss account and an amount of Rs 1,491.95 crore have been charged to reserves and deferred for adjustment in subsequent quarters, it added.
On COVID-19, it said that due to lockdown impact on economy, the situation continues to be uncertain and the bank is evaluating the situation on an ongoing basis.
"The major identified challenges for the bank would arise from eroding cash flows and extended capital cycles. The bank is gearing itself on all the fronts to meet these challenges. The management believes that no adjustments are required in the financial results as it does not significantly impact the current financial year," it said.
Despite these events and conditions, there would not be any significant impact on the bank's results in future and going concern assumptions as at presently made, it added
