Page 5 - Banking Finance September 2021
P. 5
BANK UPDATE
Banking News
Banking News
Banking News
Banking News
Banking News
UCO Bank net profit loans. The public sector lender had Tier-II is 3.02 per cent, it said. The bank
logged a net profit of Rs 406.24 crore said it plans to raise Rs 9,000 crore
jumps up four-fold in the same quarter of the previous fi- through a mix of debt and equity to
State-owned UCO Bank posted over nancial year. During the June quarter enhance capital base to fund its busi-
four-fold jump in its net profit to Rs last year, Canara Bank had amalgam- ness growth during the current fiscal.
101.81 crore for the first quarter ated Syndicate Bank into itself with
ended June 30, as bad loans fell signifi- effect from April 1, 2020. 14% increase in net profit
cantly.
Total income in the April-June increased of CSB Bank
The bank had reported a net profit of marginally to Rs 21,210.06 crore, from
Rs 21.46 crore in the same quarter of Rs 20,685.91 crore in the year-ago Fairfax-backed CSB Bank has reported
the previous fiscal. period, Canara Bank said in a regula- a 14 per cent increase in net profit to
Rs 61 crore during the first quarter of
Sequentially, the net profit rose 27 per tory filing. The bank's gross non-per- the 2021-22 financial year, as com-
cent from Rs 80.03 crore in the March forming assets (NPAs) declined slightly pared to Rs 53.56 crore during the
2021 quarter. at 8.50 per cent of the gross advances year-ago period.
as on June 30, 2021 as against 8.84 per
The total income during Q1 FY22 in- cent at June-end last year. Net NPA Sequentially, too, the Kerala-based
creased to Rs 4,539.08 crore, against ratio too fell to 3.46 per cent, from bank reported improved numbers,
Rs 4,436.57 crore in Q1 FY21, UCO 3.95 per cent in the same quarter a posting a rise of 42 per cent. It had
Bank said in a regulatory filing.
year ago. reported a profit of Rs 42.89 crore
However, it was down from Rs during the March quarter. The total
As a result, provisions and contingen-
4,936.75 crore in the preceding March income of the bank during the period
cies for the first quarter came down to
quarter. was also up by 15 per cent to Rs
Rs 3,728.52 crore as compared to Rs
Interest income during the quarter fell 3,826.34 crore in the year-ago period. 571.53 crore, as against Rs 496.88
2.5 per cent to Rs 3,569.57 crore, Of this, provisions for NPAs significantly crore during the first quarter of the
while income from other sources rose reduced to Rs 2,334.88 crore, as 2020-21 financial year.
25.3 per cent to Rs 969.51 crore. against Rs 3,549.99 crore a year ago. The gross non-performing assets
(NPAs) increased to 4.88 per cent of
Canara Bank's reports in- The Provision Coverage Ratio (PCR) im- the gross advances as of June 30, 2021
proved to 81.18 per cent as at June
crease in profit 2021, from 78.95 per cent as at June as against 3.51 per cent by end of June
Canara Bank reported nearly three- 2020, the bank said in a statement. last year.
fold jump in standalone net profit at Rs Capital adequacy ratio of the bank
1,177.47 crore for the quarter ended stood at 13.36 per cent as at June 2021. NPAs of banks decline
June 30, helped by reduction in bad Out of which Tier-I is 10.34 per cent and Non-performing assets (NPAs) or bad
BANKING FINANCE | SEPTEMBER | 2021 | 5