State-run lender Canara Bank reported 52.1 per cent decline in net profit at Rs 228.9 crore in the first quarter ended June as it parked a higher share towards contingencies for bad loans.
The Bengaluru-headquartered bank's net profit in same quarter of the previous fiscal stood at Rs 478.84 crore, Canara Bank said in a regulatory filing to BSE.
The bank's provisions and contingencies rose to Rs 1,492.92 crore in the April-June quarter from Rs 1,359.73 crore in the same period a year ago.
Total income during the quarter under review declined to Rs 11,786.3 crore, from Rs 12,252.64 crore a year ago.
Bank's asset quality deteriorated further as gross non-performing assets (NPAs) or bad loans stood at 9.71 per cent of gross advances in the first quarter of 2016-17 against 3.98 per cent in the same period of FY2015-16.
Public sector lender Vijaya Bank has reported 13.4 per cent increase in net profit at Rs 161.66 crore for the first quarter ended June 30, 2016-17.
The bank had reported net profit of Rs 142.59 crore in the April-June quarter of the previous fiscal 2015-16.
Total earnings of the bank rose marginally to Rs 3,295.05 crore during the first quarter, as against Rs 3,289.05 in the year-ago period, Vijaya Bank said in a regulatory filing.
However, bank's asset quality worsened, as its gross non-performing assets (NPAs) rose to 7.31 per cent of the gross advances as of June, sharply up from 3.39 per cent a year ago.
Likewise, net NPAs or bad loans stood at 5.42 per cent of the net advances at the end of June, almost double from 2.45 per cent year ago.
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