IBPS Probationary Officer/ Management Trainee (PO/MT) VIII Notification 2018 out

The Institute of Banking Personnel Selection (IBPS) has published the Official Notification of IBPS PO VIII CWE 2018 (Preliminary and Main) for the recruitment of Probationary Officer/ Management Trainee posts for the year 2018. The online application link will be activated from 14th August 2018 to 4th September 2018. Preliminary Online Exam will be held during the Month of October 2018 (13.10.2018, 14.10.2018, 20.10.2018 and 21.10.2018). Main Online Exam will be held on 18.11.2018. Check below for more details.

Name of the Posts(s) : Probationary Officer/ Management Trainee (PO/MT) VIII 

Educational Qualification (as on 04.09.2018) :

• A Degree (Graduation) in any discipline from a University recognised by the Govt. Of India or any equivalent qualification recognized as such by the Central Government. The candidate must possess valid Mark-sheet / Degree Certificate that he/ she is a graduate on the day he / she registers and indicate the percentage of marks obtained in Graduation while registering online.

Age (as on 01.08.2018)

• Minimum : 20 Years
• Maximum : 30 Years 

Application Fee :

• Rs. 100/- for SC/ST/PWD candidates.
• Rs. 600 /- for all others

Selection Process:  The IBPS PO VIII Recruitment Process is based on Two Phase Exams. They are

• Preliminary (Phase I) Exam and
• Main (Phase II) Exam

How to Apply: Interested Candidates may Apply Online Through official Website.

Important Dates :

• Starting Date of Online Registrations : 14th August 2018
• Last Date of Online Registrations : 4th September 2018
• Download of call letters for Online examination – Preliminary : September 2018
• Online Examination – Preliminary : 13.10.2018, 14.10.2018, 20.10.2018 and 21.10.2018
• Result of Online exam – Preliminary : October/ November 2018
• Download of Call letter for Online exam – Main : November 2018
• Online Examination – Main : 18.11.2018
• Declaration of Result – Main : December 2018
• Download of call letters for interview : January 2019
• Conduct of interview : January / February 2019
• Provisional Allotment : April 2019

Apply Online: Click Here

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IBPS Recruitment for Divisional Head-TSS, Banker Faculty Research Associate, Deputy Manager (Accounts) & Law Officer Posts 2018

The Institute of Banking Personnel Selection (IBPS) has published Advertisement for below mentioned Posts 2018. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts:

• Divisional Head-TSS
• Banker Faculty 
• Research Associate
• Deputy Manager (Accounts) 
• Law Officer 

Click here to Apply Online for the Post of Research Associate, Deputy Manager (Accounts) & Law Officer

Click here to View Advertisement for the post of Research Associate, Deputy Manager (Accounts) & Law Officer

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Invites Application for the post of Divisional Head-TSS (On Contract)

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Invites Application for the post of Banker Faculty (On Contract)

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UCO Bank narrows loss in Q1FY9

State-owned UCO Bank on Friday reported a net loss of Rs.633.88 crore for the first quarter ended June 2018. This first quarter loss, however, has narrowed both on annual and sequential basis.

During April-June period of 2017-18, its net loss stood at Rs.663.02 crore. While in the March quarter of FY2017-18, loss was Rs.2,134.36 crore. However, total income in April-June 2018 increased to Rs.4,360.88 crore from Rs.4,237.04 crore in the same period a year ago, the bank said in a regulatory filing.

Bank’s asset quality worsened with the gross non-performing assets (NPAs) hitting 25.71% of gross advances as on 30 June 2018 as against 19.87% by end-June 2017.

In absolute value, the gross bad loans or NPAs stood at ₹29,786.41 crore by the end of the first quarter of this fiscal, up from Rs.25,054.21 crore. Net NPAs were 12.74 per cent (Rs.12,558 crore) as against 10.63% (Rs.12,010.95 crore). Thus the provisions for bad loans were raised substantially to Rs.2,038.33 crore for the June quarter of FY’19 from Rs.1,204.25 crore a year ago.

UCO Bank said provision coverage ratio for non-performing loans is 65.15 per cent. The bank said it was required to make additional provisions with respect to accounts under provisions of Insolvency and Bankruptcy Code.

“Accordingly, the bank has made additional provision of ₹627.79 crore in respect of all NCLT admitted borrower accounts,” UCO Bank said.

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Union Bank of India Q1 profit rises 11% despite higher provisions

Public sector lender Union Bank of India has reported a 11.2 percent growth year-on-year in first quarter profit to Rs 129.5 crore, driven by tax credit and net interest income. Profit in same period last fiscal was Rs 116.5 crore.

Net interest income during the quarter grew by 17.1 percent to Rs 2,626.2 crore compared to Rs 2,242.6 crore in year-ago with loan growth at 5 percent.

Asset quality weakened for the quarter with gross non-performing assets as a percentage of gross advances rising to 16 percent versus 15.7 percent and net NPA increasing to 8.7 percent versus 8.4 percent sequentially.

In absolute terms, gross NPA increased 3.2 percent quarter-on-quarter to Rs 50,972.6 crore and net NPA 4.9 percent to Rs 25,508.4 crore for quarter ended June 2018. Provisions and contingencies fell sharply by 60.7 percent sequentially to Rs 2,229 crore, but increased 30.8 percent YoY in Q1.

Other income (non-interest income) dropped 14.6 percent YoY to Rs 1,207.95 crore while operating profit increased 1.56 percent to Rs 2,088.78 crore in June quarter. Tax credit for the quarter stood at Rs 269.83 crore against tax expenses of Rs 236.30 crore in same period last fiscal.

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SBI posts third consecutive loss on surging NPAs

State Bank of India (SBI) on Friday reported a loss for a third consecutive quarter as non-performing assets (NPAs) continued to mount and provisions soared. The bank would have reported higher loss if there was no tax write back. Net loss for the June quarter (Q1) stood at ₹ 4,875.85 crore against a profit of ₹ 2,005.53 crore a year ago. According to 17 Bloomberg analysts, the bank was expected to post a profit of ₹ 237.80 crore.

SBI received a tax write back of ₹ 2,379.28 crore in Q1 FY19 against tax paid of ₹ 939.05 crore in Q1 FY18.

Provisions and contingencies surged 115.33% to ₹ 19,228.26 crore in Q1 from ₹ 8,929.48 crore a year ago. On a quarter-on-quarter basis, they declined 31.56% from ₹ 28,096.07 crore.

Gross NPAs rose 13.17% to ₹ 2.13 trillion at the end of the June quarter from ₹ 1.88 trillion a year ago. As a percentage of total loans, SBI’s gross NPAs stood at 10.69% as compared to 10.91% in the previous quarter and 9.97% in the year-ago quarter. Net NPAs were at 5.29% in the June quarter compared to 5.73% in the March quarter and 5.97% in the June quarter last year.

Net interest income (NII), or the core income a bank earns by giving loans, was up 23.8% to ₹ 21, 798.36 crore versus ₹ 17,606.07 crore last year. Other income was at ₹ 6,679.49 crore, down 16.57% from ₹ 8,005.66 crore a year ago.

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United Bank of India reports fifth quarterly loss, restricts NPA

State-run lender United Bank of India has reported net loss for the fifth consecutive quarter even as it managed to restrict fresh generation of sticky loans by two-third.

The bank said its loss for the quarter to June was Rs 389 crore compared with Rs 212 crore loss in the year ago period, on account of high sticky loans and spike in mark-to-market treasury losses.

The ratio of gross non-performing assets slipped to 22.73% from 17.17% a year back, raising the provisioning requirement 13% to Rs 856 crore.

It has also provided Rs 252 crore towards mark-to-market treasury losses in the June quarter. Its operating profit fell 33% at Rs 282 crore over Rs 243 crore in the year ago quarter due to fall in treasury income which offset the doubling of net interest income.

Nonetheless, UBI has shown improvement in asset quality sequentially. Gross NPA ratio improved 137 bps from 24.1% at the end of March. This helped the lender, which has been under Reserve Bank of India’s prompt corrective action mechanism, cut losses in the June quarter compared to March quarter’s loss of Rs 413 crore.

The bank said it will continue its thrust on containing of fresh slippages and NPA reduction through resolution of large NPA accounts. It managed to restrict fresh slippage to Rs 547 crore in June quarter against Rs 1669 crore generation in the year ago period.

It has created a stressed asset management vertical under the finance ministry’s direction

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Punjab & Sind Bank reports net loss in Q1

State-owned Punjab & Sind Bank on Wednesday reported a net loss of Rs 398 crore in first quarter ended June as provisioning for bad loans increased significantly.It had reported a net profit of Rs 25.37 crore in the same period a year ago. In the preceding quarter ended March 2018, it had a net loss of Rs 524.62 crore, a dip in losses when compared sequentially.

For the entire 2017-18, the bank had posted a net loss of Rs 743.80 crore due to high proportion of bad loans.The bank in a regulatory filing said that the total income in April-June period of 2018-19 stood at Rs 2,336 crore, higher than Rs 2,062.57 crore in the same period of 2017-18.

For the June quarter, bank's provisioning for bad loans (or non-performing assets) shot up to Rs 795.38 crore as against Rs 259.20 crore set aside for the same period of the fiscal ended March 2018.

However, the bank brought down the proportion of soar assets with the gross NPAs falling to 10.55 percent of gross advances as on June 30, 2018 from 11.33 percent in year ago corresponding quarter.In value terms, gross NPAs stood at Rs 7,363.41 crore by end June this year as against Rs 6,693.36 crore. Net NPAs were 5.92 per cent (Rs 3,928.81 crore) as against 7.94 per cent (Rs 4,511.40 crore).

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Indian Bank Q1 profit down 44%

Chennai based Indian Bank reported a net profit of Rs 209.31 crore for the quarter ended June 30. This was a fall of almost 44% over the corresponding quarter last year. 

The bank is among the better performing PSU banks in the current scenario when most of them are grappling with high NPAs. It was one of the only two out of 21 PSU banks to book a profit in the preceding quarter. 

The net interest income, which is the total interest earned less interest expended on deposits, saw a rise of almost 24% to Rs 1807 crore. 

The gross non-performing assets, or total bad loans on the bank’s books, stood at Rs 11,827 crore, up from Rs 9653 crore at the end of the same quarter last year. However, the share of gross NPA to total lending remained stable at 7.2% due to a more than 20% increase in total lending. This is the second lowest gross NPA share amongst PSU banks after Vijaya Bank. 

Total deposits grew by 9.77%. up from Rs 1.9 lakh crore to Rs 2.1 lakh crore. 

The bank set aside Rs 1029.6 crore as provisions of which Rs 456.6 crore were for NPAs. Another Rs 362.75 crore were provided for mark to market (MTM) losses, leaving MTM losses to the tune of Rs 636.1 crore to be provided for in the subsequent two quarters. This is in accordance with RBI’s special dispensation to allow banks to spread provisions for MTM losses over four quarters starting the quarter ended 31 March.

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City Union Bank Q1 profit rises 15% on lower provisions

Private sector lender City Union Bank has reported a 15.2 percent year-on-year in net profit to Rs 161.6 crore, driven by lower provisions and stable asset quality.

Profit in the year-ago period was Rs 140.3 crore.

Net interest income, the difference between interest earned and interest expended, grew by 9.5 percent to Rs 374.8 crore compared to Rs 342.4 crore in same quarter last fiscal.

Asset quality was stable for the quarter ended June 2018. Gross non-performing assets as a percentage of gross advances were lower at 3.02 percent for the quarter against 3.03 percent in previous quarter while net NPA was unchanged at 1.70 percent sequentially.

Provisions for bad loans dropped 33.4 percent year-on-year to Rs 77.7 crore in Q1FY19 and also declined 9.85 percent on sequential basis.

Other income or non-interest income during the quarter fell 4.6 percent to Rs 129.11 crore but operating profit increased 0.8 percent to Rs 299.4 crore compared to year-ago.

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