Page 8 - Npas
IDBI Bank's net profit soars 318% YoY to Rs 603 cr in June quarter
Net interest income of the lender jumped 41% YoY to Rs 2,506 crore but sequentially it was down 23%
 "IDBI Bank's net profit soars 318% YoY to Rs 603 cr in June quarter")
Karnataka Bank Q1 net down 46% to Rs 106 cr as treasury income dips
Mulls QIP for equity capital raise
 "Karnataka Bank Q1 net down 46% to Rs 106 cr as treasury income dips")
Banks' NPAs decline to Rs 8.34 trillion at March-end 2021: Minister
Scheduled commercial banks were carrying NPAs worth Rs 8.96 trn on their balance sheet at the end of March 2020
 "Banks' NPAs decline to Rs 8.34 trillion at March-end 2021: Minister")
Kotak Mahindra Bank Q1 consolidated net profit falls 2.5% to Rs 1,806 cr
The drop is largely on account of Kotak Mahindra Life Insurance posting a net loss of Rs 243 cr on shareholders' account due to higher death claims following the second Covid wave
 "Kotak Mahindra Bank Q1 consolidated net profit falls 2.5% to Rs 1,806 cr")
Axis Bank Q1 net up 94% YoY at Rs 2,160 cr on sharp dip in provisions
Non-interest income up 39% to Rs 3,588 cr, with fee income growing at 62% to Rs 2,668 cr
 "Axis Bank Q1 net up 94% YoY at Rs 2,160 cr on sharp dip in provisions")
M&M Finance suffers huge Q1 loss at Rs 1,529 cr on sharp rise in provisions
Makes expected credit loss provision of Rs 2,124 cr
 "M&M Finance suffers huge Q1 loss at Rs 1,529 cr on sharp rise in provisions")
Yes Bank Q1 net up 355% YoY at Rs 207 cr on surge in non-interest income
Sequentially, the bank had booked a loss of Rs 3,788 crore in the quarter ended March 2021 (Q4FY21)
 "Yes Bank Q1 net up 355% YoY at Rs 207 cr on surge in non-interest income")
South Indian Bank Q1 net profit plunges 87% to Rs 10.31 cr, NPAs rise
South Indian Bank (SIB) on Thursday reported an 87.4 per cent year-on-year decline in net profit to Rs 10.31 crore for the June quarter as interest income fell while proportion of bad assets soared.
 "South Indian Bank Q1 net profit plunges 87% to Rs 10.31 cr, NPAs rise")
HDFC Bank's weak Q1 performance may keep Bank Nifty under pressure
The private bank bellwether reported its lowest NII growth in a decade
 "HDFC Bank's weak Q1 performance may keep Bank Nifty under pressure")
Recovery of bad loans impacted due to Covid pandemic, says B K Karad
The recovery as a percentage of gross non-performing assets moderated to 12.8 per cent in 2020-21 from 15.8 per cent in the previous fiscal year against the backdrop of the pandemic
 "Recovery of bad loans impacted due to Covid pandemic, says B K Karad")
LIC's NPAs in debt portfolio reduce, persistency ratio improves in FY21
In FY21, gross NPAs of LIC reduced by 39 basis points (bps) to 7.78 per cent from 8.17 per cent a year ago.
 "LIC's NPAs in debt portfolio reduce, persistency ratio improves in FY21")
HDFC Bank writes off Rs 3,100-crore NPAs in the April-June quarter
Offloads Rs 1,800 crore of bad loans
Reduction in NPAs for PSBs due to write-offs at Rs 1,31,894 cr in FY21: RTI
Reduction in non-performing assets (NPAs) due to write-offs for public sector banks (PSBs) stood at Rs 1,31,894 crore during fiscal 2020-21, according to an RTI response.
 "Reduction in NPAs for PSBs due to write-offs at Rs 1,31,894 cr in FY21: RTI")
SBI to sell two NPA accounts next month to recover dues of Rs 60 cr
SBI has invited bids for two NPA accounts with outstanding dues of nearly Rs 60 crore. "In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/ banks/ NBFCs/ FIs, on the terms and conditions indicated there against," SBI said in a sale notice. The bank has put up for sale the accounts of N S Engineering Projects, with loan outstanding of Rs 36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes Rs 22.72 crore to SBI. The reserve price for these non-performing assets (NPAs) for the purpose of sale has been fixed at Rs 17.19 crore and Rs 10.50 crore, respectively. The e-auction for these two accounts will take place on July 7, 2021. The interested asset reconstruction companies (ARCs)/ banks/ non-banking financial companies (NBFCs) / financial institutions (FIs) can conduct due diligence of these assets with immediate effect, after submitting expression of interest and executing a non-disclosure ..
 "SBI to sell two NPA accounts next month to recover dues of Rs 60 cr")
How banks were able to prove doomsday predictions wrong in a pandemic year
There were five factors that helped banks contain bad loans in a pandemic year
 "How banks were able to prove doomsday predictions wrong in a pandemic year")
Investors lap up Bajaj Finance despite NPA warning; stock up 10% in 2 days
The management of Bajaj Finance in a mid-quarter update indicated some adverse impact of Covid-19-related fresh lockdowns on business during the April-June quarter (Q1FY22)
 "Investors lap up Bajaj Finance despite NPA warning; stock up 10% in 2 days")
Hit by Covid-19 pandemic, textile NPAs rose to 16.9% in December
According to the CRIF report, the total amount of credit availed by the sector as of December 2020 stood at Rs 1.62 trillion
 "Hit by Covid-19 pandemic, textile NPAs rose to 16.9% in December")
Do not politicise GST Council: Finance Minister Nirmala Sitharaman
The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman
 "Do not politicise GST Council: Finance Minister Nirmala Sitharaman")
BoI posts Q4 profit of Rs 250 cr versus Rs 3,571 cr loss a year ago
Full year (FY21) profit at Rs 2,160 crore, as against loss of Rs 2,957 crore in FY20
 "BoI posts Q4 profit of Rs 250 cr versus Rs 3,571 cr loss a year ago")
Banks want RBI to relax NPA norms for lockdown-stressed MSME sector
Bankers request extension of NPA classification norms to 180 days from 90 days currently
 "Banks want RBI to relax NPA norms for lockdown-stressed MSME sector")
