IDBI falls 2% post widening of losses in Q4

The gross non-performing assets of the Punjab National Bank fell 0.8% to Rs55,370.45 crore at the end of the fourth quarter from Rs55,818.33 crore a year ago

The gross non-performing assets of the Punjab National Bank fell 0.8% to Rs55,370.45 crore at the end of the fourth quarter from Rs55,818.33 crore a year ago

State Bank of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter.

The SBI board has declared a dividend of Rs 2.60 per share (260 per cent) for the financial year ended March 31, 2017.

However, the total income during the year under review rose to Rs 31,758.97 crore from Rs 31,453.46 crore reported in the financial year ended March 31, 2016.

Its gross non-performing assets (NPA) ratio improved on a sequential basis to 6.90% in end March, compared to 7.23% in December.

SBI's net interest income - the difference between interest earned and interest expended - grew 17.34% y-o-y to Rs 18,071 crore and the NIM - a key measure of profitability - fell 16 basis points (bps) y-o-y to 3.11%.

SBI's GNPAs for the quarter increased by 3.8 per cent QoQ in Q4FY17 to Rs 112342 crore.

Net bad loans fell marginally to 3.71% of total loans from 3.81% a year earlier.

The SBI's net profit was Rs 1,264 crore in the same period in 2016. "Despite high credit costs and weak margins, the bank will still generate near-term RoE (return on equity) of 10-11%", said Edelweiss Securities Ltd in a 19 May report.

It further said that in absolute terms the gross NPAs increased to Rs 1,12,343 crore on March 2017 from Rs 98,173 crore in the same period past year. "In respect of the merger of associates, we have ensured that we have taken the maximum amount of hit so that going forward we can give a much better result", SBI chairperson Arundhati Bhattacharya said.

According to her, the biggest thing that was done just after the quarter was merger of its five associates and Bhartiya Mahila Bank with it.

"Provisions and Contingencies" of the Bank for the quarter was at Rs.42.48 crore during Q 4 FY17 against Rs.608.96 crore in Q3 FY17 on account of application of deferred tax.

Adding that slippages are slowing down, she said the lender refreshed the watch list this year as compared to last year's list.

Deposits of the bank stood at Rs 20,44,751 crore while advances were at Rs 16,27,273 crore.

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