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PSBs disappoint majorly in Dec quarter

Many banks cut lending to customers perceived as risky

Sheetal Agarwal  |  Mumbai 

Public sector banks (PSBs) have put up a dismal show in the quarter ended December 2015. Seven of the 18 PSBs that have announced numbers have posted a net loss, including Bank of India (BoI), Indian Overseas Bank and Dena Bank, among others. Of the rest, six - State Bank of India (SBI), Punjab National Bank (PNB), Union Bank, Indian Bank, United Bank and State Bank of Mysore - have seen a sharp fall (between 59 to 93 per cent) in their net profit on a year-on-year basis (y-o-y). A sharp rise in provisioning (largely for bad loans) for most of these banks is the key reason behind ...

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PSBs disappoint majorly in Dec quarter

Many banks cut lending to customers perceived as risky

Many banks cut lending to customers perceived as risky Public sector banks (PSBs) have put up a dismal show in the quarter ended December 2015. Seven of the 18 PSBs that have announced numbers have posted a net loss, including Bank of India (BoI), Indian Overseas Bank and Dena Bank, among others. Of the rest, six - State Bank of India (SBI), Punjab National Bank (PNB), Union Bank, Indian Bank, United Bank and State Bank of Mysore - have seen a sharp fall (between 59 to 93 per cent) in their net profit on a year-on-year basis (y-o-y). A sharp rise in provisioning (largely for bad loans) for most of these banks is the key reason behind ... image
Business Standard
177 22

PSBs disappoint majorly in Dec quarter

Many banks cut lending to customers perceived as risky

Public sector banks (PSBs) have put up a dismal show in the quarter ended December 2015. Seven of the 18 PSBs that have announced numbers have posted a net loss, including Bank of India (BoI), Indian Overseas Bank and Dena Bank, among others. Of the rest, six - State Bank of India (SBI), Punjab National Bank (PNB), Union Bank, Indian Bank, United Bank and State Bank of Mysore - have seen a sharp fall (between 59 to 93 per cent) in their net profit on a year-on-year basis (y-o-y). A sharp rise in provisioning (largely for bad loans) for most of these banks is the key reason behind ...

image
Business Standard
177 22

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