IDBI Bank reports major loss of Rs 3200 crore for Q4
07:28, May 20, 2017
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Aided by robust income growth and lower non-performing assets (NPAs), State Bank of India's (SBI) net profit more than doubled to Rs 2,814.82 crore for the quarter ended March, 2017 as compared with Rs 1,263.81 crore a year ago. The bank has fixed 6 June 2017 as the date for payment of the dividend.
Gross non-performing assets (GNPA) also surged to Rs 1,08,172 crore by end of the Q3. Its chairman, Arundhati Bhattacharya, called it a "difficult but satisfying quarter" as SBI has now become one of the top global 50 banks. "The accretion of NPAs seems to be slowing", Bhattacharya said.
Shares in SBI were trading 2.5 per cent higher after the results in a Mumbai market that was down 0.1 per cent.
Net Profit of United Bank of India (UBI) at Rs.73.56 crore in Q4 FY17 showing increase of 14.76 pc over previous quarter from net loss of Rs.4l3 crores as of Q4 FYl6.
However, net NPA declined to 3.71 per cent as against 3.81 per cent a year ago. SBI has done well on a solo basis and the bank has made a decision to absorb the maximum pain arising out of the merger as a result of which the current quarter would be stressful. "The rules were eased as it was found numerous smaller banks, or perhaps one or two of the bigger banks, were dragging their feet", she explained. Total income was up marginally at Rs 5,105 crore.
Under Basel III, the Bank's Capital Adequacy Ratio stood at 11.14 pc with the Tier 1 capital at 8.94% as on 31st March, 2017. However, the post-merger watch-list stood at Rs 32,427 crore as on April 1.
Total interest income increased by 10.36 per cent from Rs 42,942 crore in the fourth quarter of 2015-16 to Rs 47,393 crore in same period of 2016-17.
The company's loan losses and provisions for Q4FY17, however, jumped 86% y-o-y to Rs 290 crore from Rs 156 crore.
Chennai: Private sector Karur Vysya Bank has recorded a 57.6 per cent rise in its net profit for the fourth quarter ending March 31,2017 at Rs 217.56 crore.
"In respect to merger of associates, we have ensured that we have taken maximum amount of pain so that going forward we can give much better results".
With Qalibaf dropping out , there are now five candidates contesting, though others may choose to drop out in the coming days. Mohammad Taghi Karroubi said the family was confident that the interior ministry would let his father vote on Friday.
More than $300,000 of the fund went to pay for events hosted by Brown or in honor of her, the Justice Department said. Brown was convicted on several charges, including conspiracy, mail fraud, and filing multiple false tax returns.
Wednesday was a must-win for Washington , because 83% of teams in a 2-2 situation, who won Game 5 would go on to win the series. In the post game interview, Wall said he drew his motivation from the Celtics decision to wear all black before Game 6.
He explained: "We did a rota over the night feeds, and then she was like, I want to do them because she used to wake up anyway. I just want to spend every moment with him but she ( Cheryl ) is so great, she does everything on her own.
Eight years ago the Democratic Party was pushing a health care bill of its own, promising a new era for health care in America. The stark reality is that Obamacare is on a trajectory to collapse and is now failing the people of Illinois' 18th district.
The malware spread quickly on Friday, with medical staff in the United Kingdom reportedly seeing computers go down "one by one". Microsoft and its peers shouldn't count on the NSA to hand over information about vulnerabilities; spies will be spies.
Aston Martin has signed Brady to a multi-year endorsement deal for a new upcoming model that will cost upwards of $200,000. Aston Martin only sells some 4,000 cars per year with a mere 1,000 of those being sold in the United States.
The Senators did what they've done repeatedly during their surprising run to the NHL's final four: they found a way. I just said that we're gonna look at everything and try to get better so I'm not really thinking that [way].
Undoubtedly Kane has made his mark on White Hart Lane, even though the majority of his career looks to be at the new stadium . Spurs will play home games at Wembley next season and return to the new and improved ground in 2018/2019.
Asus Brings AR and VR ZenFone to Verizon
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Swanson hits tiebreaking HR, Braves beat Blue Jays 9-5
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The BC Liberals win a minority government
But the mood became more tense as the evening progressed, and faces became more serious as the NDP began to catch up. So nuts, in fact, that it's a little hard to tell who's actually running the province right now.
Heat land No. 14 pick in draft lottery
With Kobe Bryant out of the picture and a new general manager in the fold, LA is a franchise in transition. And you never know when the next team is looking to rebuild and ship off a star player.
Europol Admits Cyber-attack was Unmatched
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How lawmakers get their health care
Harris also expressed worry about the potential changes to Medicaid, especially when it comes to elderly patients. The poll found the requirement was supported by 86 percent of Republicans and 94 percent of Democrats.
Blue Jays place LHP Liriano on DL because of sore shoulder
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