 "PSBs dip on disappointing Q4 results; Bank of Baroda down over 5%")
Public sector banks (PSBs) were trading lower by up to 7% on the bourses after reporting a disappointing set of numbers for the quarter ended March 31, 2016 (Q4F16).
Bank of Baroda (BOB), Union Bank of India, Central Bank of India, Dena Bank, Allahabad Bank, Bank of India (BOI), Uco Bank, Syndicate Bank, Indian Overseas Bank and State Bank of India (SBI) declined over 2% each on the National Stock Exchange (NSE).
At 09:43 am, Nifty PSU Bank index was down 2.6% as compared to a marginal 0.04% gain in the benchmark Nifty 50 index.
Around 16 PSBs so far announced their results, have reported an aggregate net loss of Rs 5,834 crore for Q4FY16 as bad loans mount. These banks had posted a combined net profit of Rs 3,090 crore in Q4FY15.
BOB, the largest loser among the PSU banks, was down 7% at Rs 145. The bank had reported a loss of Rs 3,230 crore in the quarter under review compared with Rs 598 crore profit in the same period a year ago.
However, the management feels the worst seems to be coming to end. The Bank saw another quarter of loss led by high provisioning in Q4FY16.
Allahabad Bank, Bank of Maharashtra, Central Bank of India, Dena Bank and Uco Bank have also reported net loss during the quarter against profit in the previous year quarter.
Bank of Baroda (BOB), Union Bank of India, Central Bank of India, Dena Bank, Allahabad Bank, Bank of India (BOI), Uco Bank, Syndicate Bank, Indian Overseas Bank and State Bank of India (SBI) declined over 2% each on the National Stock Exchange (NSE).
At 09:43 am, Nifty PSU Bank index was down 2.6% as compared to a marginal 0.04% gain in the benchmark Nifty 50 index.
Around 16 PSBs so far announced their results, have reported an aggregate net loss of Rs 5,834 crore for Q4FY16 as bad loans mount. These banks had posted a combined net profit of Rs 3,090 crore in Q4FY15.
BOB, the largest loser among the PSU banks, was down 7% at Rs 145. The bank had reported a loss of Rs 3,230 crore in the quarter under review compared with Rs 598 crore profit in the same period a year ago.
However, the management feels the worst seems to be coming to end. The Bank saw another quarter of loss led by high provisioning in Q4FY16.
Allahabad Bank, Bank of Maharashtra, Central Bank of India, Dena Bank and Uco Bank have also reported net loss during the quarter against profit in the previous year quarter.
| Net profit/loss | Provisions & Contingencies | Price on NSE in Rs | |||||
| Bank | 03/2015 | 03/2016 | 03/2015 | 03/2016 | 13/05/2016 | LTP* | % chg |
| Allahabad Bank | 202.63 | -581.13 | 631.11 | 2487.15 | 52.55 | 51.30 | -2.38 |
| Andhra Bank | 185.24 | 51.60 | 632.96 | 1022.59 | 50.65 | 49.95 | -1.38 |
| Bank of Baroda | 598.35 | -3230.14 | 1817.50 | 6857.66 | 155.10 | 144.90 | -6.58 |
| Bank of Maha | 112.72 | -119.84 | 431.91 | 679.51 | 29.00 | 28.90 | -0.34 |
| Central Bank | 174.29 | -898.04 | 617.17 | 2286.66 | 78.35 | 75.20 | -4.02 |
| Dena Bank | 55.82 | -326.38 | 478.02 | 900.94 | 30.70 | 29.80 | -2.93 |
| Indian Bank | 206.16 | 84.49 | 562.57 | 813.58 | 91.00 | 90.30 | -0.77 |
| Oriental Bank | -178.44 | 21.62 | 1106.57 | 1026.11 | 83.15 | 82.75 | -0.48 |
| Pun. & Sind Bank | -70.24 | 98.12 | 262.19 | 267.12 | 37.80 | 37.90 | 0.26 |
| St Bk of Travancore | 191.97 | 62.14 | 141.71 | 449.69 | 367.10 | 366.30 | -0.22 |
| St Bk of Bikaner | 280.25 | 193.22 | 221.01 | 323.65 | 487.30 | 494.00 | 1.37 |
| St Bk of Mysore | 135.97 | 104.86 | 184.49 | 263.42 | 382.20 | 383.85 | 0.43 |
| UCO Bank | 209.28 | -1715.16 | 968.38 | 2344.88 | 33.95 | 33.25 | -2.06 |
| Union Bank (I) | 443.77 | 96.12 | 1009.94 | 1564.67 | 116.00 | 110.50 | -4.74 |
| Vijaya Bank | 96.80 | 71.31 | 305.50 | 653.27 | 31.15 | 30.85 | -0.96 |
| Figures in Rs crore | |||||||
| LTP - Last traded price at 09:57 am. | |||||||
| Source : CapitalinePlus | |||||||
