BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Wednesday, October 26, 2016

PSU Canara bank profit down 30% in half yearly where as PVT lender HDFC profit up 20%

Pulled down by provisioning for rising bad loans, Canara Bank today reported 32.5 per cent drop in net profit to Rs 356.9 crore for the second quarter ended September 30 of the current financial year.
The public sector bank had earned a net profit of Rs 528.8 crore in the same quarter previous fiscal.
Total income also declined to Rs 12,187.1 crore during the quarter from Rs 12,477.9 crore earned in the year-ago period, Canara Bank said in a regulatory filing on stock exchanges.
The bank's asset quality slipped with gross non-performing assets (NPAs) or bad loans more than doubled to 9.81 per cent of gross advances during the reported quarter, from 4.27 per cent a year ago.
Net NPAs also increased to 6.69 per cent of net advances as against 2.9 per cent in the same quarter last year.
As a result, provisions and contingencies rose to Rs 1,585.37 crore during the period from Rs 1,212.31 crore a year ago. Out of the total, provisioning for bad loans rose to 1,558.37 during the quarter as compared to Rs 979.17 crore in the same period a year ago.

HDFC Bank Q2 net profit up 20% at Rs. 3,455 cr

Private sector HDFC Bank today reported 20.4 per cent jump in net profit at Rs.3,455.3 crore for the quarter ended September 30.
The bank had earned Rs. 2,869.5 crore profit in the same quarter of the last financial year.
The banks total income for the July—September quarter of the current fiscal was Rs. 19,970.9 crore, up from Rs. 17,324.3 crore in the year—ago period.
NPAs up
Gross non—performing assets (NPAs) rose to 1.02 per cent of gross advances from 0.9 per cent a year ago. The net NPAs also increased to 0.3 per cent from 0.2 per cent.
As a result, provisions and contingencies for the quarter increased to Rs. 749 crore consisting of specific loan loss provisions Rs. 640.7 crore and general and other provisions Rs. 108.3 crore as against Rs. 681.3 crore in the same quarter a year ago.
Net interest income (interest earned less interest expended) for the quarter grew by 19.6 per cent to Rs.7,993.6 crore driven by average assets growth of 19.7 per cent and a net interest margin for the quarter of 4.2 per cent, HDFC Bank said in a statement.
The bank’s total capital adequacy ratio (CAR) as per Basel III guidelines, was at 15.4 per cent as against 15.5 per cent at the end of second quarter of the previous fiscal.
Half-year results
For the half year ended September, the bank’s profit rose by 20.3 per cent to Rs. 6,694.2 crore as compared to Rs. 5,565.1 crore in the same period of 2015—16 fiscal.
Total income of also improved to Rs. 39,293.5 crore as against Rs. 33,827.3 crore in the corresponding period of last fiscal.
HDFC Bank shares were trading down by 0.67 per cent or Rs. 8.50 at Rs. 1,256.90 on the BSE at about 1.30 pm.

No comments:

Court says Salary Reduction and Designation Downgrade without prior notice violates principles of natural justice

The Patna High Court, through a single-judge bench led by Justice Satyavrat Verma, nullified the Bihar Education Department’s Pay Verificati...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">