Dena Bank’s loss widened to ₹575 crore loss in the fourth quarter of the year ended March 31, 2017 compared with a ₹326 loss in the same period of the previous year. For the full year 2016-17 too, the bank posted a loss of ₹863.63 crore as compared with a loss of ₹935.32 crore for FY16.
“[The] main reasons for [the] loss during the year are the increase in NPAs, which leads to a decrease in Interest on Advances by ₹786.27 crore and also increase in provisions from ₹1,860.62 crore in FY16 to ₹2,253.84 crore in FY17,” the bank said while explaining the loss for the full financial year. For the fourth quarter, the provision for bad loans was at ₹878 crore as compared with ₹1,094 crore.
Its gross NPAs, as a percentage of gross advances, increased to 16.3% as on December 31, from 9.9% a year earlier while net NPA moved to 10.6% from 6.3%. Its capital adequacy ratio was 11.39%. Its return on assets was negative for the second consecutive year.
Vijaya Bank
Vijaya Bank reported a three-fold jump in its net profit to ₹204 crore for the fourth quarter ended March 31, 2017 due to lower provisioning and a rise in other income. The total income for the quarter rose 8.56% to ₹3,504.73 crore, according to a BSE filing. Net interest income increased 27%.
For the full year ended March, the bank’s net profit almost doubled to ₹750.48 crore. Total income also increased to ₹14,030.72 crore from ₹12,957.44 crore. Provisions and contingencies dropped 33.85% to ₹432.06 crore. The shares of Vijaya Bank rose 4.36% to ₹92.25.
Meanwhile, Syndicate Bank reported a net profit of ₹104 crore for the fourth quarter, against a loss ₹2,158 crore in the same period the previous year due to lower provisions and higher other income.
