IDBI Bank reports major loss of Rs 3200 crore for Q4

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".


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