Bank of Baroda Q3 net down to Rs 111.78 cr

SBI December quarter net profit is seen at Rs2,059.4 crore according to a Bloomberg poll of 16 analysts

That coupled with lower trading income due to rising bond yields resulted in a net loss of 24.16 billion rupees for the three months ending December 31, compared with a restated net profit of 18.20 billion rupees a year earlier.

The bank saw its non-interest income decline by 29.75 per cent, from Rs 11,507 crore to Rs 8,084 crore, as net interest income plunged due to mark-to-market losses from its treasury operations.

Syndicate Bank today reported a net loss of Rs 869.77 crore for the December quarter of the current fiscal on higher provisioning for bad loans.

Among other parameters, the net interest margin improved to 2.72 per cent during the quarter from 2.31 per cent in the year-ago quarter.

"Going forward there is a lot of optimism", Kumar said, adding SBI aimed to limit the rise in bad loans and provisioning costs at 2 percent in 2018/19.

On a standalone basis, the bank reported a wider loss at Rs 2,416 crore.

Congress MP Renuka Chowdhury moves privilege motion against Kiren Rijiju
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Kumar exuded confidence that up to 3 of these accounts will be resolved before the close of the current fiscal, while the rest in the first list of 12 will happen in the June quarter.

Total deposits of the bank stood at Rs 5.73 lakh crore as on December 31, 2017 against Rs 5.89 lakh crore at the end of December 2016.

Bad loans at Indian banks have almost doubled in the past four years as an economic slowdown took its toll on the ability of companies to repay debt, exacerbated in the case of some banks which analysts said had expanded lending too fast. The Rs 20,000 crore infusion will reduce government stake by up to 4 percentage points, he said.

The overall capital adequacy ratio was at 12.68 per cent with the core tier-I at 10.30 per cent.

It said the growth in advances was fuelled on account of retail loan growth of 33.37 per cent and within retail loan, home loan grew by 44.33 per cent.

The bank's stock closed 0.31 per cent down at Rs 65.20 on BSE.

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