Canara Bank posts net loss of Rs 4859.77 cr in Q4


Net loss during the quarter was Rs 3,509.63 crore against a profit of Rs 111.16 crore in the corresponding quarter previous year.

Net NPA at the end of March at Rs14,082.07 crore was 13.1% of total assets compared with Rs10,703.39 crore and 8.94% a year ago.

Net loss was Rs 48.60 billion ($722.57 million) for the three months ended March 31, compared with a profit of Rs 2.14 billion a year ago, the state-run bank said in a statement.

Total income during the quarter stood at Rs 2,862.14 crore against Rs 2,598.06 crore in the same period of 2016-17, the bank said in a regulatory filing. While ICICI Bank's gross NPA ratio has risen from 3.26 percent in September 2015 to almost 10 percent in March 2018, for Axis Bank, this figure rose from 1.38 percent to 6.7 percent now.

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Provisions for non-performing assets nearly tripled to 87.63 billion rupees.

Its net non-performing assets were at Rs 28,542.4 crore at the end of this quarter under review, as against Rs 21,648.98 crore as on March 31, 2017.

Other income nudged up 2.5 per cent yoy to Rs 323 crore.

Uco Bank recorded a gross NPA ratio of 24.64 per cent during the quarter against 17.12 per cent in the year ago period. Bad loans provisions rose to Rs 1,772 crore from Rs 386 on a sequential basis. The board of United Bank of India, another city-based bank, has approved the raising of Rs 1500 crore in multiple tranches through various modes. He is heading the manufacturing operations of the company's cement business.