SBI and a number of other Public Sector Banks (PSBs) declared their results for June’16 quarter last Friday. The results was a big sigh of relief as it provided much needed succor after heavy losses in March’16 quarter. A sample of PSBs including the top three, reported profit of Rs 3,100 crore, a sharp reversal from … Continue reading Public Sector Banks – Performance revisited..
Government’s decision to recapitalize banks is a prudent move which would reduce considerable stress from the banking sector. Public Sector Banks (PSBs) have been reeling under the load of growing NPAs which has caused significant erosion in their equity base and aversion to lending. While it would help the weaker banks to enhance their capital adequacy … Continue reading Bank Recapitalization – Precursor to consolidation..?!
The week’s highlight was the news from banking sector. While SBI initiates process for merger of its associate banks, PNB shocks with more than Rs 5,000 crore loss in Q4’ 16. Other than PNB, four other PSBs, IDBI Bank, Syndicate Bank, Corporation Bank and UBI declared their results this week. All four have reported significant … Continue reading Weekly Round Up – Week 20
PNB results have come as a shocker with bank reporting loss of more than Rs 5,000 crore in March’16 quarter and about Rs 4,000 crore for the full year. Indeed, all public sector banks which have reported their results have reported losses/ large decline in profits during the quarter. So what exactly is happening in … Continue reading Punjab National Bank -Why this provisioning..?